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F, `'� 745 <br />BOOK 9® �,ur. <br />The foregoing resolution was offered by Commissioner Eggert _ _ <br />and seconded by Commissioner T i p p in , and, being put to a vote, the <br />vote was as follows: <br />Chairman Richard N. Bird Aye <br />Vice Chairman John W. Tippin Aye <br />Commissioner Fran B. Adams Aye <br />Commissioner Carolyn K. Eggert Aye <br />Commissioner Kenneth R. Macht Aye <br />The Chairman thereupon declared the resolution duly passed and <br />adopted this 12 day of October, ' 1993 . <br />INDIAN RIVER COUNTY, FLORIDA <br />BOARD OF COUNTY COMMISSIONERS <br />By <br />Ric and N. Bird, C 'rman <br />RESOLUTION NO. 93- 1 7 7 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, <br />CERTIFYING THE DEFAULT OF COPELAND LANDING, <br />INC. UNDER THE TERMS OF CONTRACT NO. <br />PRD -90-10-09 AND AUTHORIZING DRAFT ON FIRST <br />UNION NATIONAL BANK OF FLORIDA STANDBY <br />LETTER OF CREDIT REFERENCE NO. X510105 (ISSUING <br />BANK: CHEMICAL BANK NEW YORK, LETTER OF <br />CREDIT NO. N-392164) EFFECTIVE SEPTEMBER 20, <br />1992, CONFIRMED OCTOBER 1, 1992 WITH AMENDMENTS <br />DATED OCTOBER 26, 1992 AND NOVEMBER 25, 1992. <br />WHEREAS, County Development Regulations require development <br />plat improvements to be in place before a plat is recorded; and <br />WHEREAS, a plat may be recorded prior to construction of <br />required improvements if the developer contracts with the County to complete <br />those required improvements within one year of final plat approval and posts <br />adequate security to guaranty that contractual agreement; and <br />WHEREAS, COPELAND LANDING, INC., a Florida corporation, <br />entered into a contract on behalf of the development known as Copelands <br />Landing Riverside, P.R.D. which contract was numbered PRD -90-10-09; and <br />28 <br />