Okaloosa County BOCC — July 7, 2015 — Addendum to Irrevocable Standby Letter of Credit No. 201101 (New)

B A N K ADDENDUM TO IRREVOCABLE STANDBY LETTER OF CREDIT NO. 201101 Number: 201101 Date: June 24, 2015 BENEFICIARY: Okaloosa County Board of County Commissioners Okaloosa County Courthouse Crestview, FL 32536 APPLICANT: Willow Creek Plantation at Crestview, LLC 11828 La Grange Ave Los Angeles, CA 90025 This is an addendum to that Irrevocable Letter of credit No. 201101 in favor of Willow Creek Plantation at Crestview, LLC, for the sum of Two Hundred Seven Thousand Five Hundred Seventy Three Dollars and Thirty Cents ($207,573.30) dated January 20, 2011 is amended as follows: 1. ltis a condition of this Letter of Credit that it shall be extended for an additional twelve months from the stated expiration as outlined in Letter of Credit Number 201101, and any amendments 2. New Expiration date is July 20, 2016 All other terms and conditions remain unchanged. This Agreement will be governed by federal law applicable to Lender and, to the extent no preempted by federal law, the laws of the State of Florida without regard to its conflicts of law provisions, and except to the extent such laws are inconsistent with the 2007 Revision of the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce, ICC Publication No. 600. This agreement has been accepted by Lender in the State of Florida. Summit Bank, N.A. s@p&/@ Q VQ\ Philippe Miceliflfkal@a\Market President {850} 362-1220 office | {850} 362-1221 fax | 32 NW Beal Parkway, Fort Walton Beach, Florida 32548 wwiw.sumimitbankna.com