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~,~~g~~;;!g~!~~~~O .FO IFN D'I.A TNH ER IVEBRo ACRODU NTOYF, FLCOORUINDTAY,
<br />••..•..•••. THE DEFAULT OF COPELAND LANDING,
<br />UtlIDE·R THE·· TERMS OF CONTRACT NO •
<br />. PRD-lll0-1 AND AUTHORIZING DRAFT ON
<br />INTERNATIONAL MIAMI LETTER OF
<br />NO. EM29888092 DATED JULY 29, 1992 WITH
<br />,AMENDMENT NO.1 DATED DECEMBER 1, 1992 (ISSUING
<br />.. BANK- CAISSE CENTRALE DES JARDINS, MONTREAL,
<br />REF.: LCS 4788/189; DATED JULY 15, 1992).
<br />WHEREAS, County Development Regulations require~,~~g~~;;!g~!~~~~O .FO IFN D'I.A TNH ER IVEBRo ACRODU NTOYF, FLCOORUINDTAY,
<br />••..•..•••. THE DEFAULT OF COPELAND LANDING,
<br />UtlIDE·R THE·· TERMS OF CONTRACT NO •
<br />. PRD-lll0-1 AND AUTHORIZING DRAFT ON
<br />INTERNATIONAL MIAMI LETTER OF
<br />NO. EM29888092 DATED JULY 29, 1992 WITH
<br />,AMENDMENT NO.1 DATED DECEMBER 1, 1992 (ISSUING
<br />.. BANK- CAISSE CENTRALE DES JARDINS, MONTREAL,
<br />REF.: LCS 4788/189; DATED JULY 15, 1992)..
<br />WHEREAS, County Development Regulations require development . .. , . ,
<br />p~tlmprovements 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 />WHEREAS, the contract was secured by a NationsBank
<br />International Miami Irrevocable Letter of Credit No. EM29888092 (Issuing
<br />Bank Ref.: LCS 4788/189) in the amount of $55,000.00 with issue date of
<br />July 29, 1992 with Amendment No. 1 dated December 1, 1992, lowering the
<br />amount to $49,500.00 and extending the expiration date to November 8, 1993,
<br />naming Indian River County Board of County Commissioners as beneficiary
<br />with Caisse Centrale Des Jardins, Montreal, Canada 8S issuing bank
<br />(Irrevocable LeUer of Credit No. LCS 4788/189); and
<br />WHEREAS, COPELAND LANDING, INC. has failed to perform its
<br />.. obligations under the "Contract for Construction of Required Improvements
<br />PRD-90-10-09" •
<br />NOW, THEREFORE, BE IT RESOLVED by the Board of County
<br />1. The above statements are ratified in their entirety.
<br />2. WE HEREBY CERTIFY THAT COPELAND LANDING, INC. HAS
<br />UNDER THE TERMS OF THE COPELANDS LANDING RIVERSIDE,
<br />. C~NTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
<br />N()~'PRD-91l-10';09 BETWEEN COPELAND LANDING, INC. AND INDIAN RIVER·
<br />" .. ; '-"""', ... -..
<br />1
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