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1 . The amount required to guarantee the completion of the remaining <br /> required improvements is reduced to $439 , 652 . 35 . <br /> 2 . The security (a Bank of America , N . A . Irrevocable Standby Letter of <br /> Credit) in the amount of $439 , 652 . 35 has been in place since July 7 , 2006 and <br /> has an expiration date of April 12 , 2007 . <br /> 3 . All other terms set out in the Contract for Construction of Required <br /> Improvements No. SD-03-07- 18-CFC/PL6 (2001050202-46473 ) , as modified , <br /> remain in full force and effect. <br /> IN WITNESS WHEREOF , the parties hereto have set their hands and <br /> seals on the day and year first above written . <br /> INDIAN RIVER ASSOCIATES II , LLLP , <br /> a Florida limited liability limited <br /> partnership <br /> By: INDIAN RIVER II CORPORATION , <br /> a Florida corporation <br /> By.7ENERALPARTNER <br /> / 1 L2kyj C <br /> N . 'a � <br /> Vice President <br /> INDIAN RIVER COUNTY, FLORIDA <br /> by and through its Board of County <br /> Commissioners <br /> ByO, cop_ <br /> Arthur R. Neu rger, Chair a <br /> approved : July 11 , 2006 <br /> ATTEST : J . K . Barton , Clerk of Court <br /> By: <br /> Deput CIEM/ J . tale <br /> APPROVED AS TO FORM AND ,- <br /> LEGAL SdUFFICI�fyC fYl <br /> By I r l �9 f !t <br /> William G . Collins II <br /> County Attorney <br /> 2 <br /> F:\Attorney\Nancy\DOCS\PLAN\MODIFICATON2 K falcon trace 6.doc <br />