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ASSIGNMENT OF <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED <br /> 4 <br /> IMPROVEMENTS <br /> No . PD - 04 - 0742 - CFC (200402019648349 ) <br /> WHEREAS , on September 6 , 2005 , Regent Group , LLC , a Florida limited liability <br /> company entered into Contract for Construction of Required Improvements No . PD -04-07 - 12- <br /> CFC (2004020196-48349) , copy attached, with Indian River County in connection with <br /> property platted as Quail Creek PD ; and <br /> WHEREAS , Regent Group , LLC wishes to transfer and assign its interest in the <br /> property to SLM Investments , LLC , a Florida limited liability company, and SLM <br /> Investments , LLC wishes to assume the obligations under said Contract for Construction of <br /> Required Improvements ; and <br /> WHEREAS , under paragraph 9 of said Contract for Construction of Required <br /> Improvements, the agreement shall not be assigned without the express written approval of the <br /> County, <br /> NOW, THEREFORE , the parties agree to the assignment of Contract for <br /> Construction of Required Improvements No . PD -04-07 - 12 -CFC (2004020196 -48349) <br /> provided , however, that the Harbor Federal Savings Bank Irrevocable Letter of Credit No . 446 <br /> in the amount of $ 1 , 645 , 348 . 88 currently in place to guarantee completion of the required <br /> improvements be replaced with a letter of credit for the same amount by SLM Investments , <br /> LLC . <br /> ASSIGNOR: ASSIGNEE : <br /> REGENT GROUP , LLC . SLM INVESTM TS , <br /> By: By: <br /> Ra and E . Gent, Man ger tanley Marky <br /> Managing M b <br /> CONSENT TO ASSIGNMENT <br /> INDIAN RIVER COUNTY, FLORIDA <br /> BCC approved : December 13 , 2005 . By: <br /> Thomas S . Lowther, Chairman <br /> Attest : Jeffrey K. Barton <br /> APPRMW AS TO FORM Clerk of Court <br /> AW LgQAL &UFF1C4ENGV <br /> �( L./ �✓L�� By <br /> sy <br /> WILLIAM (L Cdi l.iNS t Deputy Clerk <br /> "Uj4TV AMRNW <br />