FDIC Letter 06/08/2010
FDIC
Federal Deposit Insurance Corporation
7777 Baymeadows Way West
Jacksonville FL 32256
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
RECEIPT NO. 70090960 0001 2265 1664
June 8, 2010
To:
Board of County Commissioners of Monroe County Florida
Airport Operations and Maintenance Fund
Airport Business Office
3491 S. Roosevelt Blvd
Key West, Florida 33040
Subject:
10149 Orion Bank
Naples, FL - In Receivership
November 13, 2009
Closing Date:
Repudiation of Automatic Teller Machine Lease Agreement executed
by Orion Bank and Board of County Commissioners of Monroe
County Florida
Dear Sir or Madam:
The above-captioned depository institution (the "Institution") was closed on the Closing
Date referenced above and the Federal Deposit Insurance Corporation was appointed as receiver
of the Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged
with the duty of winding up the affairs of the Institution. In order to achieve this goal, the
Receiver is given the right under 12 U.S.C. Section 1821(e) to repudiate undertakings entered
into by the Institution where it finds such undertakings to be burdensome and where such
repudiation will promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you may be a party to the following contract(s):
Automatic Teller Machine Lease Agreement, Key West International Airport,
executed by Orion Bank and Board of County Commissioners of Monroe County
Florida, dated March 17, 2004 and renewed on June 29, 2009
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The Receiver has determined that the above-described contract(s) is (are) burdensome
and that the disaffirmance of said contract(s) will promote the orderly administration of the
Institution's affairs. The purpose of this letter is to inform you that the Receiver has elected to
disaffirm the above-referenced contract(s) to the full extent, if [, I I r '~i' I
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enforceable obligation of the Institution or the Receiver. This disaffirmance shall only affect an
obligation of the Institution or the Receiver, and is not disaffirmance on behalf of other parties, if
any, to the contract.
You may determine that the Receiver's decision to disaffirm your contract(s) gives you a
claim against the receivership estate. If so, you must file a Proof of Claim form with the
Receiver no later than ninety days from the date of this letter. A Proof of Claim form may
be obtained by contacting the Claims Agent by phone at (904) 256-3925.
Under federal law, with certain limited exceptions, failure to file a claim within 90 days
from the date of this letter will result in disallowance by the Receiver, the disallowance will
be final, and further rights or remedies with regard to claims will be barred.
If you file a claim, you must do ALL of the following:
· Complete the Proof of Claim Form
· Sig:n the Proof of Claim Form
· Provide supporting documentation regarding your claim.
Please submit the properly completed Proof of Claim Form and the supporting documentation to
the Receiver on or before ninety days from the date of this letter. You must return the properly
completed Proof of Claim Form, along with the supporting documentation, to the following
address:
FDIC as Receiver of
Orion Bank
7777 Baysmeadow Way West
Jacksonville, Florida 32256
Attention: Claims Agent
After your claim is filed, the Receiver has up to 180 days to review and determine whether to
allow or disallow your claim. Pursuant to 12 U.S.C. 1821(d)(6), if the Receiver notifies you of
the disallowance of your claim, you have the right to file a lawsuit on your claim (or continue
any lawsuit commenced before the appointment of the Receiver). Or, if you do not receive a .
notice of disallowance before the end of the I80-day period, your claim will be deemed
disallowed and you may file a lawsuit on the deemed-disallowed claim. A lawsuit based on a
disallowed (or deemed-disallowed) claim must be filed within 60 days after the date of the notice
of disallowance by the Receiver OR within 60 days after the end of the 180-day period,
whichever is earlier. You must file your lawsuit either in the United States District (or
Territorial) Court for the District where the Failed Institution's principal place of business was
located or in the United States District Court for the District of Columbia.
IF YOU DO NOT FILE A LAWSUIT (or continue any lawsuit commenced before the
appointment of the Receiver) BEFORE THE END OF THE 60-DA Y PERIOD, THE
DISALLOWANCE OF YOUR CLAIM WILL BECOME FINAL AND YOU WILL HAVE NO
FURTHER RIGHTS OR REMEDIES WITH RESPECT TO YOUR CLAIM. 12 V.S.C. Section
1821(d)(6)(B).
If you have any questions concerning any of the matters discussed above, you may
contact the Receiver at the address provided or phone (904) 256-3925.
Federal Deposit Insurance Corporation
As Receiver for Orion Bank
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Post Closing Asset Manager
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BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
MEETING DATE: 6/16/10
BULK ITEM: YES
DIVISION: COUNTY ADMINISTRATOR
DEPARTMENT: AIRPORTS
STAFF CONTACT PERSON: Peter Horton
Phone: 809-5200
AGENDA ITEM WORDING: Approval to terminate lease agreement with Orion Bank for the Automatic Teller Machine at
the Key West International Airport.
ITEM BACKGROUND: When Orion bank went into receivership with FDIC, Iberia bank did not purchase the ATM located
at the Key West Airport. Iberia Bank shut down the ATM on May, 5, 2010.
PREVIOUS RELEVANT BOCC ACTION: Approval of lease agreement with Orion Bank 3/17/04, approval of lease
extension agreement 8/19/09.
CONTRACnAGREEMENTCHANGES: N~
STAFF RECOMMENDATION: Approval
TOTAL COST: N/A INDIRECT COST: N/A
DIFFERENTIAL OF LOCAL PREFERENCE: N/A
COST TO COUNTY: None
COST TO AIRPORT': None
COST TO PFC: None
BUDGETED: N/A
SOURCE OF FUNDS: N/A
REVENUE PRODUC:ING: N/A
AMOUNT PER MONTH !YEAR: N/A
APPROVED BY: County Attorney N/A
OMS/Purchasing N/A
Risk Management N/A
DOCUMENTATION: Included X
Not Required
AGENDA ITEM #
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DISPOSITION:
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APB
revised 7/09
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IIII';KI. \Ii \\1\
200 W Congress St
Lafavette, LA 70501
5/4/2010
Airport Operations Office
Key West International Airport
3491 S Roosevelt Blvd
Key West, Fl 33040
To Whom this MaV Concern:
On November 13, 2009, Orion Bank went into receivership with the FDIC. IBERIABANK acquired some of the Orion
branch offices from the FDIC. The ATM located at 3491 South Roosevelt in Key West FL was not purchased by
IBERIABANK. Please accept this letter as notice of the closure of the ATM located at 3491 South Roosevelt Blvd.
. The cash will be removed and unJt will be shut down on May 5, 2010 at 10:00 am.
If you have any questions please feel free to contact me at 337.521.4027.
Th~."kSf
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Daphne Hebert
Senior Vice President
Facility Director
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