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<br />BrNEi-i:•I.,"'^v .:..,_. APPLICANT
<br />:FJ?IAF' R! 'FR Cr UNI r C,HO JLV0 DEACH V. INC
<br />I;OARP ar CIVNTY ;I:•:I1F !,„r, r' '_5670 C;C'ETPORATF WnY
<br />TC140--ITI-t `.7 PE r-1 WFST PALM BEACH, Fl -34U7
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<br />EN TL EMf� �:
<br />3Y rj!:DE .Jr (0113 +LIEF, 0'-- �.F1 W INC . I - tri I UNION NATIONAL BANE-. HEREBY
<br />E!',r`VL151dL5 -,N IRlJ' %'G(: ,11l.p. I ):.ITER i?f` CREDIT NO SM4144:j:1C: IN YOUR FAVIR; Ti THF
<br />�rR7f 1Tv ` tilt 1-;30, ',2"?:? 14 EF I'LC I I •,'f AF; [_IF [JC: TOBER 10. 2000 AND EXP IR INC A I 'TIFw
<br />9T-r--,Ct THE CLfY3F CIT 6'l',-;1fNFSS IJN .1AIRIARY 31. 2002
<br />THIS-, LE1 `c_H LII C*R? -1?IT T!' F'1."1.'[DEP 1C) YiJU AS REQUIRED UNDER TF1- CC)NIFZAC.T ”-UF+
<br />rUNSTfi -:'.°''ON OF RT-TWEEN C+HU VERO BEACH V, INC i.TJI) [NDIi,)•,
<br />F?1WIaR cul.., -ay. fiFL.Al TN:: 11' ''.P I-i[•PFF V I ANIS t?LITIAIVIsiam — PHASr ii—r, vmc ri
<br />CONTRACT 'S 'NUT9BENI_I) 51i—+t1-:) +_!7r C['?' V0010101)
<br />FIR5TL1Ntr"11N NATION �L DA1,4%-•iIALL MAIII. 1-UNDS AVAILABLE UNDER THIS CREDIT TO YOU
<br />1•I0T EXCL DING IN THL AGGF*. 'ATI TI -IF AMOUNT OF THIS CREDIT AGAINSTYOUR SIGHT
<br />DRAFT TO !JS MENTIONING 1I115 LETThR Or CREDIT NO SM4144:32C, ACCOMPANIED rY A
<br />REwOLVTIL,14 OF THF BOARD (IT CUUNTY (OMFII55IONFRS TO THE EFFECT THAT GHO VERU
<br />UEACH V, INC HAS DEF"AULTE.I', UNDER T1 -IE TERM5 OF THE ArCRI MENTIONED CONTRACT FOR
<br />CONSTRUCT'ION OF REEQUIRIEII IMPROVEMENTS, AND THAT THE AMOUNT OF THE DRAFT
<br />RTPRF'aEIvT' THE AMOUNT REOUTFtrl) BY THE COUNTY TO FULFILL THE PERFORMANCE OF SAID
<br />`;DNTRACT FOR IHE C014STRLJCT ION OF RtOUTRED IMPROVEMENTS DRAFTS PRESENTED FOR
<br />PAYMENT UNDER THE CREDIT F;14ALL BE MARKED, "DRAWN ON IRREVOCABLE LETTER OF
<br />CREDIT' NL' SMa1443:IC Op- F -IR 3T UNION NATIONAL BANK. 6 -
<br />'HIS HIL L T. T I T2 OF CIiEI?I T TSE `?: f f+R TH T N FULL THE tERMa OF OUR UNIJERTAFC ING ANT?
<br />3UC`-p UNL:• ,JTAKING =JIALL ;3lll T1l AN'r WAY UE MOI)II•IED, AMENDET) OR AMPLIFIEL)
<br />13' REFERI'NCE TO :,NY D0001 -1I1,'1' OR IN'.;TFIUMENT REFERRED TO HERLIN OR IN WHICH
<br />THE'S LETIF:R 13F cREIIIT RL-Li,IF9 AND API',' I.UCH REFERENCE SFIj',LT_ NOT SE DEEMED
<br />.0 INCQRPORAIE HLREIN U'r EiE-.FIRFNGE AN',' VOCUMENT OR INSIRUMETNT
<br />WE HERE?.- AGREE WISH YOtl lliAT PRAF)+5, DRAWN UNDER AND IN COMPLIANCE W11H lHE
<br />"FRMS A" -'I) CONDTTEOIdL' OF IHIS C:RED1 F '114ALL BE DULY )ILINORLD IF PRESENTED T('1GL.THER
<br />WITH DOC'AiENT(S) AS SPECIFIED ABL)VF- AFlD THE ORIGINAL OF THIS CREDIT, AT 00P
<br />")FT -ICE ON OR BErORE THE AFDVF 7-TATT`11 EXPIRY DATE
<br />C-0(:UM1-:Nt,: MAY BE PRESENT[ I1 •%I [ I THI H CIF OUR FOLLOWING LUCAI fONS",
<br />111TLkNATiONAL. DIVI'SION URP4 UR - INTERNATIONAL DIVISION
<br />8739 RESFARCH DRLVF•. 200 S. BISCAYNE HOUL.EVARD
<br />CHARLOTTE. NC 20.1.1.,-2-0742 MIAMI, FL 33131
<br />EXCEPT A'. OTHERWISE EKPRESS1. Y 57AIF D HEREIN. THIS LETTER OF CREDIT i5 5uciE.CT
<br />TO THE 11NIFORM ClkiTDM'S AN11, PRACT iCi F()R DOCUMENTARY CRLDITS, ESl'AEILISHE.D BY
<br />THE INTFF%,NA'TIONAL CHAME11-P 134- COMMLi CL, AS IN EFFECT ON THE DATE or ISSUANCA
<br />CIF THIS t-RFDTT
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