Okaloosa County BOCC — April 1, 2014 — Letter of Credit

Whitney Bank ~ International Department (MO320)- : 228 St. Charles Avenue ee ice “=""New Orleans, LA 70130-2615 2. ee eln(504)-586-7301-—______2 3 . EBA Fax: (604) 299-5059 : ~ SWIFT: WHITUS44 Irrévoeable ; Standby Letter of Credit No.: $B72258L. Issue Date: January 09, 2014 Beneficiary:. Board of County Commissioners Okaloosa County, Florida 1759 South Ferdon Boulevard : Crestview, Florida 32536. Zountingsiedtnt USD 250,000.00 Not Exceeding Expiry Date: January 08, 2016 Expiry Place: New Orleans, LA To Whom It May Concern: We hereby issue our Irrevocable Letter of Credit in your favor for the account of Nature Lake of NW Florida, LLC, for a sum not to exceed two hundred fifty thousand dollars ($250,000) available by your drafts at sight drawn on Whitney Bank for maintenance and upkeep of roads and stormwater management systems for the Nature Lake Subdivision as described, permitted and constructed pursuant - to the provisions of the Development Agreement for Nature Lake, in Okaloosa County, Florida. This letter of credit satisfies the requirements of Section3.4 and 4.6 of that agreement. : Draft(s 5) drawn under this credit must be marked "Drawn under Whitney Bank Irrevocable Standby Letter. of pregit No. $B72258L dated January 9, 2014." Partial drawings are not permitted. Demand for: payment must be in writing and must include a signed affidavit from the county engineer stating violations, existing in relation to the subdivision's completed roadway and stormwater management .- « ORIGINAL /$B72258L. = : Page 1 of 2 THE BACK OF THIS DOCUMENT LISTS VARIOUS SECURITY FEATURES al THAT WILL PROTECT AGAINST COPY COUNTERFEIT AND ALTERATION. Whitney Bank hued KA St International Department (MO320) 228 St. Charles Avenue New Orleans, LA 70130-2615 Tel: (504) 586-7301 Fax: (504) 299-5059 SWIFT: WHITUS44 Irrevocable Standby Letter of Credit No. SB72258L Amendment no. 1 Dated March 06, 2014 Beneficiary: Applicant: - Board of County commissioners John H. Carmouche on behalf of Okaloosa County, Florida Nature Lake of NW Florida, LLC | 1759 South Ferdon Boulevard 300 Highland Crossing i Crestview, Florida 32536, United States Baton Rouge, LA 70810 United States i. We amend our Standby Letter of Credit subject to the following terms and conditions. This it amendment forms an integral part of the original instrument. All other terms and conditions remain unchanged. Amended Terms: Expiry date has been amended to: April 01, 2016 Unless otherwise instructed herein, all correspondence and inquiries regarding this transaction should be directed to our Customer Service Center at the above address, telephone: 1-504-586-7301. Please indicate our reference number in all your correspondence or telephone inquiries. Regards, Ca iL. buiole ([fithorized Signature(s) 0) SB72258L Page 1 of 1 DUPEM-SARE LY) FUHM NU, BEUTS Desa Zz Be ES PAL _ ey Ra P| THE BACK OF THIS DOCUMENT LISTS JRITY FEATURES THAT WILL PROTECT AC SOUNTERFEIT AND ALTERATION. fa