Okaloosa County BOCC — November 4, 2012 — Assignment of Lease Neal to Robbins CCB document — reading text

Mead Law Firm 24 Walter Martin Road NE, Suite 201 Fort Walton Beach, Florida 32548 Telephone: (850) 243-3135 Facsimile: (850) 244-4849 Michael Wm Mead Please reply to: Michael W. Mead, Jr. Post Office Box 1329 John S. Mead Fort Walton Beach, FL 32549-1329 December 10, 2012 Greg Donovan Airports Director 1701 State Road 85 North Eglin AFB, FL 32542-1498 Re: Assignment of Lease from James Neal to Phil Robbins/Armada Systems to CCB Community Bank Dear Mr. Donovan: Please accept this correspondence as the written request for Okaloosa County approval of the execution an Assignment of Lease executed by James Neal to Phil Robbins/Armada Systems, and a mortgage executed by Mr. Robbins in favor of CCB Community Bank, upon the leasehold property and improvements more particularly described as follows: Block 4, Lot 1, Destin Airport, together with ail improvements thereon. The promissory note and leasehold mortgage related to this request will be in the original principal amount of $100,000.00 and for a period of 5 years. Additional, CCB Community Bank would request Okaloosa County to agree to provide written notice of any default occurring under the subject lease which would result in termination thereof and further grant CCB Community Bank the right, but not the obligation, to cure the specified default within a reasonable time after delivery of such notice. CCB Community Bank would also request Okaloosa County acknowledge CCB Community Bank’s right to take possession of the leasehold interest in the event of borrower’s default, (which possession shall include all of lessee’s rights to renew and extend said leasehold interest) and/or the right, if necessary to foreclose upon such interest through appropriate judicial proceedings. If the mortgage upon the leasehold interest and the representations and agreements set forth herein are agreeable to Okaloosa County, please have the appropriate official acknowledge the same by his or her signature in the space provided below. Should this not be agreeable or additional information is needed, please contact me at 850-243-3135. Respectfully, MEAD LAW FIRM, P.A. Michael Wm. Mead Attorney at Law MWMrral This request outlined herein is acknowledged and agreed to by: CCB Community Bank Zo By: "Derek Lott Title City President Date: (Z-/0-(@ Board of County Commissioners DON R. AMUNDS Chairman Phil Robbins/Armada Systems By: Phi] Robbins Title /, Date: /2°/0- [2.