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rr,- -1 <br />APR2 61994 BOOK 92 FACT 276 , <br />ON MOTION by Commissioner Adams, SECONDED by <br />Commissioner Eggert, the Board unanimously adopted <br />Resolutions 94-58, 94-59, and 94-60, certifying the <br />default of Copeland Landing, Inc. and authorizing <br />draft on letters of credit from Nationsbank <br />International Miami, First Union National Bank of <br />Florida (N-392164), and First Union National Bank of <br />Florida (N-383821), respectively. <br />4/94(N ESO\oopela= cl)LEGAL(WGIII /zilarn) <br />(mosquito lmpouz clr ant) <br />RESOLUTION NO. 94- 5 <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 <br />NATIONSBANK INTERNATIONAL MIAMI LETTER OF <br />CREDIT NO. EM29888092 DATED JULY 29, 1992 WITH <br />AMENDMENT NO. 1 DATED DECEMBER 1, 1992 AND <br />AMENDMENT NO. 2 DATED OCTOBER 14, 1993 (ISSUING <br />BANK - CAISSE CENTRALE DES JARDINS, MONTREAL, <br />REF.: LCS 4788/185; DATED. JULY 15, 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 />24 <br />