Okaloosa County BOCC — December 31, 2012 — Irrevocable Standby Letter of Credit No. 226 (New)

” NOV. 28.2012 5:31PM CCB_COMMUNITY_BANK NO. 834 PL 2 _CCB_ IRREVOCABLE STANDBY LETTER OF CREDIT CommuNirY BANK ovember 28, RE: DEVIN N JONES AND KHADER A DAOUD Beneficiary: OKALOOSA COUNTY BOARD OF COMMISIONERS 1804 Lewis Tuner Blvd. Ft. Walton Beach, FL 32547 At the request of Mossy Oak Plantation, Phase 4, located on Hwy 4, Baker, FL, we hereby extend the issue of our irrevocable standby letter of credit reference number #226 that became effective December 14, 2010 and has hereby been extended until December 14, 2013 This credit is for an amount or amounts not to exceed in the aggregate amount of ONE HUNDRED TWENTY SEVEN THOUSAND AND 00/100 DOLLARS ($127,000.00) USD $127,000.00 and subject to the following: The purpose of this irrevocable letter or credit is to serve as a defect security bond to Okaloosa County to assure the viability of the roadways, storm water drainage, retention areas, and all county maintenance areas completed by Developer on September 30, 2010. We hereby agree that all drafts drawn under and in compliance with the terms of this credit will by duly honored on deliver of documents as specified if presented at our counters on or before the new expiration date indicated above. When presenting your draft(s) and documents or when communicating with us, please make reference to our number shown above. Demand for payment must be in writing and must include a signed affidavit from the county engineer stating violations evidencing noncompliance with count specifications and ordinances. Drafts drawn under this credit must be endorsed, must contain the clause “drawn under CCB Letter of Credit No. 226, dated December 14, 2010” and must be accompanied by proof of default and the original of this credit. All documents to be presented CC8, 1290 N. Ferdon Blvd., Crestview, FL 324536. This letter of credit is subject to the International standby practices (ISP(*) which was effective January 1, 1999. Michael Andrews, executive Vice President 225 East Three Notch Street 2O. Box 400 Andalusia, AL 36420 (334) 222-2561 wwwbankech.com