Okaloosa County BOCC — November 3, 2015 — Irrevocable Standby LOC No. 244

_CCB CoMmuNITY BANK IRREVOCABLE STANDBY LETTER OF CREDIT July 15, 2013 RE: DEVIN N JONES AND KHADER A DAom Beneficiary: OKALOOSA COUNTY BOARD OF COMMISIONERS 1804 {ewis Tuner Bivd. Ft, Walton Beach, FL 32547 At the request of Mossy Qak Plantation, Phase lI, focated on Hwy 4, Baker, FL, we hereby issue our irrevacable standby letter of ¢redit reference number #244 that became effective July 15, 2013 and explrl}.gluiy 15, 2015. This credit is for an amount or amounts not to exceed in the aggregate amount of SEVENTY-FOUR THOUSAND AND 00/100 DOLLARSQ(Aqn,OOO.OO) USD $74,000.00 and subject to the following: The purpose of this irrevocable letter or credit is to serve as aflfl;ct security bond to Okaloosa County to assure the viability of the roadways, storm water drainage, retention areas, and ali county maintenance areas completed by Developer on July 15, 2015. We hereby agree !halflrahs drawn under and in compliance with the terms of this credit will be duly honared 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 county specifications and ordinances. Drafts drawn under this credit must be endorsed, must contain the clause “drawn under CCB Letter of Credit No. 244, dated july 15, 2013” and must be accompanied by proof of default and the original of this credit. All documents to be presented to CCB, 1250 N. Ferdon Blvd., Crestview, FL 32536. This letter of credit is subject to the international standby practices {ISP(*} which was effective January 1, 1999 Kkévin T, Duffy, Vice President 225 Bast Three Noteh Steect POLBon 00 Andalusia, AL 304200 13345 222 2501 wawlbanha baoom CCB __ CommuniTy BANK 1 AMMENDMENT to IRREVOCABLE STANDBY LETTER OF CREDIT #244 QOctober 30,2013 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 I, located on Hwy 4, Baker, FL, we hereby amend our irrevocable standby letter of credit reference number #244 in the amount of SEVENTY-FOUR THOUSAND AND 00/100 DOLLARS ($74,000.00) USD; the facility became effective July 15, 2013 and is set to expire July 15, 2015, The expiration date will be extended to November 5, 2015, (o Alan Wood, Florida President / 1290 N. Ferdon Bivd. Crestview, FL 32536-1751 (850) 682-0484 www.bankccb,com