Labels:book | reckoner OCR: The Certification earlier drafted for Hastings was not executed by him until June 16. 1988 more than one month after Central Bank had already agreed with the developer to delay an independent review. 154 The Certification, which Central says if relied Hodn to satisfy ith concerns about the appraisal, sop not represent that the methodology requirod by the Indenture SEM used, but rather that the result was the samc the end of 1988 the risks bond purchascrs earlier fagged by Central's appraiser Ed Elmer had imna terialized In April 1989. the holders $26 million of Stetson Hills 1986 and 1988 bonds received letters from Central Bank (J.A. 20 disclosing, for the first time that i1 Deeember 1988 the developer had failed t supply the promised year-cnd appraisal ot the 1988 bond collat eral That d ...
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