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