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7.S. Resolution No. 2002-118 Declaring Default by Arbor Trace <br />Development, Inc. in its Obligation to Complete Required <br />Improvements to Arbor Trace, Phase II, P.D. <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Acting Vice Chairman Ginn, the Board unanimously adopted <br />Resolution No. 2002-118 declaring default by Arbor Trace <br />Development, Inc. in its obligation to complete required <br />improvements to Arbor Trace, Phase II P.D. and authorizing <br />staff to make sight draft against Wachovia Bank, National <br />Association, Irrevocable Standby Letter of Credit No. <br />S422166W dated August 1, 2002. <br />MODIFICATION AND COPY OF CONTRACT FOR CONSTRUCTION <br />OF REQUIRED SIDEWALK IMPROVEMENTS ARE ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />7.T. Majestic Oaks - Final Plat Approval Requested by Majestic Oaks <br />Development Corporation - Contract for Construction of Required <br />Sidewalk Improvements <br />ON MOTION by Commissioner Adams, SECONDFD BY <br />Acting Vice Chairman Ginn, the Board unanimously granted <br />final plat approval for Majestic Oaks, and authorized the <br />Chairman to sign the Contract for Construction of Required <br />Sidewalk Improvements and accept posted security, as <br />recommended in the memorandum. <br />December 17, 2002 <br />12 <br />• <br />