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ISSUING BANK. I 1 NUMBER Barnett Bank of Central Florida, NA (IRREVOCABLE 1007_LC_073960 Attn. International Operations 'STANDBY P.O. Box 675000 'LETTER OF CREDIT I Orlando, Florida 32867-5000 USA PLACE AND DATE OF ISSUE. Orlando, Florida 32867-5000 USA 12/06/19 APPLICANT. RICHARD HEBERT AND/OR COMMEND'S LANDING 3200 73RD STREET VEND EACH, FL 32967 U.S.A. • BENEFICIARY. INDIAN RIVER COUNTY BOARD OF COUNTY COtIQSSI0HER.S 1860 25!0 STRICT, VENO BEACH, FIARmA 32960 U.S.A. + PANIZAL DIUMI/NS PERKITIED, AMOUNT, I18D72,000.00 UP TO AN AGGREGATE THEREOF CREDIT AVAILABLE WITH. Barnett sank of Central Florida, N.A. Orlando, Florida U.S.A. BY* PAYMENT Against documents detailed herein and your drafts at sight drawn on Barnett Bank of Central Florida, NA DOCUMENTS REQUIRED, BENEFICIARY'S CERTIFICATION PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICIAL OF THE MIDIAS RIVER BOARD OF COUNTY COMMISSIONERS AS FOLLOWS. "WE ICY CERTIFY THAT COPELAND'S LANDING HAS DEFAULTED UNDER THE TERMS OF THE COPEIAIID'S LANDING SUBDIVISION PHASE 1 CONTRACT SD -87-0506 FOR IIIPROVDNENTS BETWEEN COPELMID'S LIMING AND INDIAN RIVER COUNTY. THE AMOUNT OF THIS DRAWING - REPRESENTS THE AMOUNT REQUIRED BY THE COUNTY TO FULFILL THE PERFORMANCE OF SAID CONTRACT FOR THE REQUIRED IHPROVEHENTS." THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING. SUCH UNDERTAKING SHALL NOT IN ANY MAY BE MODIFIED, AMENDED, OR AMPLIFIED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT, OR CONTRACT REFERRED TO WHEREIN, OR IN WHICH THIS LETTER OF CRT•DIT IS REFERRED TO, OR DEEMED WHICH TC ITHISPLETTTEROF HEREIN BY RELANOT TES, AND ANY SUCH REFERENCE RR REFERENCE ANY DOCUMENT, INSTRUMENT OR CONTRACT. ALL DRAFTS MUST BE MARDED, "DRAWN UNDER SARNETF BANK OF CENTRAL FLORIDA, N.A. LETTER OF CREDIT NO. 073960 DATED 12/06/90." THE ORIGINAL LEITER OF CREDIT MUST Continued on page 2.