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Wells Fargo Bank, N.A. <br />U.S, Trade Services <br />Standby tetters of Credit <br />794. Davis Street, and Floor <br />MACAo283-023, <br />San Leandro, CA 945n-6922 <br />Phone: i(800) 776-3862 Option 2 <br />E Mail: sble-new@wellsfargo.'com <br />Irrevocable Standby Letter Of Credit. <br />Number : IS000074150U <br />Issue bate: February 20, 2019 <br />BENEFICIARY APPLICANT <br />INDIAN. RIVER COUNTY <br />BOARD OF COUNTY COMMISSIONERS <br />1801 27TH STREET <br />VERO BEACH, FLORIDA 32960 <br />Lt I i ER OF CREDIT ISSUE AMOUNT <br />PULTEGROUP, INC. O/B/O DIVOSTA HOMES, L.P. <br />4400 PGA BLVD, SUITE 700 <br />PALM BEACH GARDENS, FLORIDA 33410 <br />USD 3,044,188.14 EXPIRY DATE MAY 19,'2020 <br />LADIES AND -GENTLEMEN: <br />:BY ORDER OF PULTEGROUP, INC: O/B/O, DIVOSTA HOMES, LP, WELLS FARGO BANK, N.A. HEREBY <br />ESTABLISHES AN IRREVOCABLE LETTER OF CREDIT. NO. IS000074150U IN YOUR FAVOR IN THE AMOUNT OF <br />$3,044,188.14 EFFECTIVE AS OF FEBRUARY 20, 2015, AND EXPIRING AT OUR OFFICE AT THE CLOSE OF <br />BUSINESS ON MAY 19,.2020. <br />WE. HAVE BEEN INFORMED THAT THIS LEITER OF CREDIT IS PROVIDED TO YOU AS REQUIRED UNDER THE <br />CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS' BETWEEN DIVOSTA HOMES, LP. AND <br />INDIAN RIVER COUNTY, RELATING TO LAKES AT WATERWAY VILLAGE PD — PODS M, N, 0, P WHICH <br />CONTRACT IS NUMBERED PD -17-09=06 (2004010124-82753). <br />WELLS FARGO BANK, N.A. SHALL MAKE FUNDS AVAILABLE.UNDER THIS CREDIT TO YOU NOT EXCEEDING IN <br />THE AGGREGATE THE AMOUNT OF THIS CREDIT AGAINSTYOURSIGHT DRAFT TO US MENTIONING THIS <br />LETTER OF CREDIT NO. IS000074150U, ACCOMPANIED BY A LETTER FROM THE COUNTY ADMINISTRATOR <br />OR HIS DESIGNEE, WITH APPROVAL SIGNATURESOF THE COUNTY ATTORNEY OR HIS DESIGNEE, AND THE <br />DIRECTOR OF OFFICE OF MANAGEMENT AND BUDGET OR HER DESIGNEE, STATING THAT DIVOSTA HOMES, <br />L.P. HAS DEFAULTED UNDERTHETERMS OF THE AFOREMENTIONED CONTRACT FOR.CONSTRUCTION OF <br />REQUIRED IMPROVEMENTS, AND THAT THE AMOUNT OF THE DRAFT REPRESENTS THE AMOUNT REQUIRED <br />BY THE COUNTY TO FULFILL THE PERFORMANCE OF SAID CONTRACT FOR THE CONSTRUCTION OF <br />REQUIRED IMPROVEMENTS. DRAFTS. PRESENTED FOR PAYMENT UNDERTHE CREDIT SHALL BE MARKED, <br />"DRAWN ON IRREVOCABLE LETTER OF CREDIT NO. 150000741150U OF WELLS FARGO BANK, N.A." <br />THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING. SUCH UNDERTAKING <br />SHALL NOT IN ANY WAY BE MODIFIED, AMENDED, OR AMPLIFIED BY REFERENCE TO ANY DOCUMENT, <br />INSTRUMENT, OR CONTRACT REFERRED TO HEREIN OR IN WHICH THIS LETTER OF CREDIT I5 REFERRED TO <br />OR TQ WHICH THIS LETTER OF CREDIT RELATES AND ANY SUCH REFERENCE SHALL NOT BE DEEMED TO <br />INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT, INSTRUMENT, OR CONTRACT. Together we'll go far <br />Page 1 of 2 <br />Each page of this document is an integral part <br />of this Irrevocable Standby Letter of Credit Number I5000074150U <br />