Laserfiche WebLink
RESOLUTION N0.2012- ii9 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, DECLARING DEFAULT BY RANGE <br />ROAD MINE, LLC IN ITS OBLIGATION TO FULFILL <br />THE PERFORMANCE OF COMPLIANCE WITH AND <br />RESTORATION OF SITE PLAN APPROVAL FOR <br />PHASE 2 OF ITS SAND MINE (HAMMOND SAND <br />MINE), AND AUTHORIZING STAFF TO MAKE <br />SIGHT DRAFT AGAINST NORTHERN TRUST, N.A. <br />IRREVOCABLE STANDBY LETTER OF CREDIT <br />NO. SLC500481 DATED OCTOBER 16, 2008, AS <br />AMENDED. <br />WHEREAS, Range Road .Mine, LLC posted Northern Trust, N.A. <br />Irrevocable Standby Letter of Credit No. SLC500481, with amendments, in the <br />combined amount of $31,300.00 to fulfill the performance of compliance <br />($18,000.00) with the conditions of site plan approval for Phase 2 (Site Plan No. <br />SP -MA -04-08-51/2004030073-40839) and restoration ($13,300.00) of the Phase <br />2 site. <br />WHEREAS, Indian River County, as the beneficiary of the irrevocable <br />standby letter of credit, received a Termination Notice/Notice of Non -Renewal of <br />the irrevocable letter of credit, with the final expiration date of the Northern Trust, <br />N.A. Irrevocable Standby Letter of Credit, as amended, being December 9, <br />2012; and <br />WHEREAS, under the terms of the amended Northern Trust N.A. <br />Irrevocable Standby Letter of Credit No. SLC500481, in the event the bank <br />provides proper notice to the County of its intent not to renew the irrevocable <br />1 <br />