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IRREVOCABLE LETTER OF CREDIT <br />LETTER OF CREDIT NO. 2544726682 <br />January 17, 2017 <br />BENEFICIARY: <br />APPLICANT: <br />Board of Public Works <br />Cleveland Woods Development Co., LLC <br />Attn: Linda Martin <br />2010 Went Avenue <br />City of South Bend <br />Mishawaka, IN 46545 <br />1316 County City Building <br />South Bend, IN 46601 <br />We are amending our Irrevocable Letter of Credit No. 25447266, dated February 8, 2006, in your <br />favor in the amount of USD 61,870.00 (Sixty -One Thousand, Eight Hundred Seventy US Dollars Only) <br />for the account of Cleveland Woods Development Co., LLC, 2010 Went Avenue, Mishawaka, Indiana <br />46545, to an amended expiration date of January 31, 2018. <br />Funds are available by your draft at sight drawn on MutualBank and accompanied by the following <br />documents: <br />Beneficiary's signed statement reading as follows: <br />"Cleveland Woods Development Co., LLC has failed to complete the required Sanitary Sewer and <br />Municipal Water in Femwood — Phase III." <br />Partial drawings are permitted. <br />This letter of credit will expire January 31, 2018. <br />We hereby agree with you that all draft(s) drawn under and in compliance with the terms of this letter <br />of credit will be fully honored upon presentation, as specified herein. <br />All drafts drawn under this letter of credit must be endorsed hereon and must bear the clause: "Drawn <br />under MutualBank Letter of Credit No. 2544726682, dated January 17, 2017 " and must be presented <br />at 4100 Edison Lakes Parkway, Suite 300, Attn: Business Banking Dept., Mishawaka, Indiana, 46545 <br />on or before January 31, 2018. <br />All draft(s) drawn under this letter of credit must be presented with original letter of credit and any <br />and all amendments. <br />Except as otherwise expressly stated herein, this credit is subject to the Uniform Customs and Practice <br />for Documentary Credits, 1993 Revision, ICC Publication No. 500. <br />Sincerely, <br />7Je/ffffRemble <br />Vice President <br />ames Martindale <br />Vice President <br />FIZOVED <br />o"ard of Public Works <br />FEB 14 'tOt <br />