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BOARD OF COUNTY COMMISSIONERS <br />1840 25th Street, Vero Beach, Florida 32960 <br />Telephone: (407) 567-8000 <br />May 19, 1993 <br />GHA Grand Harbor, Ltd. <br />2121 Grand Harbor Blvd. <br />Vero Beach, Florida 32967 <br />Industri & Skipsbanken A/S <br />c/o Steel Hector & Davis <br />1900 Phillips Point West <br />777 South Flagler Drive <br />West Palm Beach, Florida 33401-6198 <br />Re: Agreement for Construction of Golf Course Tunnel <br />Beneath Indian River Boulevard <br />Gentlemen: <br />Suncom Telephone: 224-1011 <br />Regarding the above -referenced Agreement, please accept this letter as the <br />County's written permission for GHA Grand Harbor, Ltd. to collectively <br />assign its interest in the License attached as Exhibit B to the above <br />referenced Agreement to Industri & Skipsbanken A/S or any other lender <br />upon the golf course property serviced by the tunnel. The permission <br />granted herein shall permit the License to be transferred to such lender in <br />the event of a foreclosure (or any transfer in lien thereof) of the <br />mortgage encumbering the golf course property, and for the subsequent <br />transfer of the License with any transfer of title to the golf course <br />property. <br />Sincerely, <br />INDIAN RIVER COUNTY <br />Richard N. Bird <br />Chairman <br />15 <br />MAY 1 1993 BOOK 89 FAUF 555 <br />