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BROWN & BUNCH <br /> ATTORNEYS AND COUNSELORS AT I �;{� 1997 <br /> CHARLES CORDON BROWN 4900 NOrtllPark "' CH ' OFFICE <br /> 'LL1AM W.BUNCH,111 101 NOR JMBIA STREET <br /> LAAM D.BERNARD 4900 Falls of Neuse Road, Suite 21 r H CAROLINA 27514 <br /> ANN txvlN (Street Zip Code 27609) (919)9C 8-n 11 <br /> ...ARTHA LEANN NEASE Post Office BOX 19409 _ 19)968-1444 <br /> JOHN C.SCHAFER — <br /> WILLIAM H.WEATHERSPOON,JR. Raleigh,North Carolina 27619-9409 DURHAM OFFICE <br /> SCOTT D.ZIMMERMAN (919)878-8060 3100 TOWER BOULEVARD <br /> Facsimile: (919)878-8062 UNIVERSITY TOWER-FIFTH FLOOR <br /> DURHAM,NORTH CAROLINA 27707 <br /> (919)490-9700 <br /> FACSIMILE(919)419-9736 <br /> March 14, 1997 <br /> Ms. Beverly A. Blythe, Clerk <br /> Orange County Board of Commissioners <br /> Post Office Box 8181 <br /> Hillsborough, N.C.27278 <br /> Re: Randolph Dudley Fox; Letter of Credit <br /> Dear Ms. Blythe: <br /> Pursuant to your letter to Randy Fox dated February 4, 1997, please find enclosed two <br /> (2) copies of the Resolution of the Orange County Board of Commissioners dated December 17, <br /> 1996 and executed by Mr. Fox. <br /> As the Revocation of Declaration of Development Restrictions and Requirements prepared <br /> by Geoff Gledhill was recorded in the Orange County Registry on February 20, 1997 in Book <br /> 1554, Page 500, we understand that the letter of credit issued by Wachovia Bank of North <br /> Carolina may now by terminated upon Wachovia's receipt of a certification from the Board of <br /> Commissioners consistent with the requirements of the letter of credit. Please find a copy of the <br /> letter of credit enclosed herewith for your reference. As soon as possible, please submit such a <br /> certification to the attention. of John M. Hansen, Vice President, Wachovia Bank of North <br /> Carolina,Wachovia Capital Management, 100 N.Main Street,Winston-Salem,N.C.27150-7111, <br /> with a copy to me. <br /> _11s /Z_s <br /> 4'O1e <br /> w, <br /> il <br />