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r -n <br />P.0. 60X 4809A _ANTA.000ROIA 70102.4119 <br />CADI[ ADDR ESS <br />CI <br />ISSUE <br />2 � •`' ^^^�,����'��I,,,IJJJIJJJ1I"' ISSUE DATE: DECEMBER 4, 1986 <br />—-u- u L/C NO.: A065730 -G-86 <br />APPLICANT <br />INDIAN RIVER COUNTY RIVERWALK ASSOCIATES, A GEORGIA <br />BOARD OF COUNTY COMMISSIONERS GENERAL PARTNERSHIP <br />1840 25TH STREET P.O. BOX 1738 <br />9 VERO BEACH, FLA. 32960 ATLANTA, GA. 30371 <br />ATTN: SCOTT HAWKINS <br />AMOUNT <br />$316,753.96 (THREE HUNDRED <br />SIXTEEN THOUSAND SEVEN HUNDRED <br />FIFTY THREE AND 96/100 USDLS). <br />K GENTLEMEN: <br />0 <br />W <br />�$ WE HEREBY ESTABLISH OUR IRREVOCABLE LETTER OF CREDIT IN YOUR FAVOR, <br />?d <br />DRAFT(S) TO BE MARKED "DRAWN UNDER THE CITIZENS AND SOUTHERN <br />W NATIONAL BANK, ATLANTA, LETTER OF CREDIT NUMBER A065730 -G-86". <br />DATE,AND PLACE OF EXPIRY: MARCH 3, 1988, AT OUR OFFICE, <br />INTERNATIONAL DEPT., 35 BROAD STREET, ATLANTA, GEORGIA. <br />WW <br />c CREDIT AVAILABLE WITH: THE CITIZENS AND SOUTHERN NATIONAL BANK <br />i6 BY: PAYMENT AGAINST PRESENTATION OF THE <br />10 DOCUMENT DETAILED HEREIN AND YOUR DRAFT(S) <br />AT SIGHT DRAWN ON THE CITIZENS & SOUTHERN <br />NATIONAL BANK. <br />.o DOCUMENT REQUIRED: <br />4� <br />�r <br />z <br />A SIGNED STATEMENT FROM THE BOARD OF COUNTY COMMISSIONERS TO THE <br />:= EFFECT THAT: "RIVERWALK ASSOCIATES HAS DEFAULTED UNDER THE TERMS OF A <br />W CONTRACT FOR REQUIRED IMPROVEMENTS, AND THAT THE AMOUNT OF THE DRAFT <br />W REPRESENTS THE AMOUNT REQUIRED BY THE COUNTY TO FULFILL THE <br />=a PERFORMANCE OF SAID CONTRACT FOR THE REQUIRED IMPROVEMENTS." <br />o� <br />THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING. <br />SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED, OR <br />AMPLIFIED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT, OR CONTRACT <br />REFERRED TO HEREIN OR IN WHICH THIS LETTER OF CREDIT IS REFERRED TO OR <br />TO WHICH THIS LETTER OF CREDIT RELATES AND ANY SUCH REFERENCE SHALL <br />NOT BE DEEMED TO INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT, <br />INSTRUMENT, OR CONTRACT. <br />WE HEREBY AGREE THAT ALL DRAFTS DRAWN UNDER AND IN COMPLIANCE <br />WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED BY US ON <br />DELIVERY OF DOCUMENTS AS SPECIFIED IF PRESENTED AT THIS <br />m OFFICE ON OR BEFORE THE ABOVE EXPIRY DATE <br />n <br />w CORD"T PAGE 2 THE CITIZENS & SOUTHERN NATIONAL BANK <br />4 <br />iO B Y i LG - <br />0 llU AARA <br />n <br />LETTER �OF CREDIT MANAGER <br />