3/7/2016 2:03:51 PM
10/1/2015 3:33:38 AM
Official Document Type
Agenda Item Number
Pointe West of Vero Beach LTD
Modification required sidewalk and buffer improvements
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^ ate West North Village Phase V PDr <br /> A TRUE COPY A 0 0 <br /> CERTIFICATION ON LAST PAGE <br /> J . K . BARTON , CLERK <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK AND BUFFER <br /> IMPROVEMENTS <br /> NO . PD =99 = 10 = 15 (V) SIDE/BUFFER ( 99070081 = 55883 ) <br /> THIS MODIFICATION , made and entered into this 1, day of May , <br /> 2009 , by and between Pointe West of Vero Beach , Ltd . , a Florida limited <br /> partnership , hereinafter referred to as " Developer" , and INDIAN RIVER <br /> COUNTY , a political subdivision of the State of Florida , by and through its Board <br /> of County Commissioners , hereinafter referred to as " County" . <br /> WITNESSETH : <br /> WHEREAS , Developer entered into a Contract for Construction of <br /> required Sidewalk and Buffer Improvements No . PD - 99 - 10 - 15 ( V) SIDE/ BUFFER <br /> ( 99070081 - 55883 ) guaranteeing the completion of certain required sidewalk <br /> and buffer improvements on or before February 26 , 2009 and posted Wachovia <br /> Bank Irrevocable Standby Letter of Credit Number SM224515W in the amount of <br /> $ 105 , 937 . 50 as security to guarantee completion ; and <br /> WHEREAS , the buffer improvements and a portion of sidewalk <br /> improvements have been completed ; and <br /> WHEREAS , the developer has <br /> ( X ) requested an additional two-year extension to February 26 , 2011 to <br /> complete the remaining required sidewalk improvements ; <br /> ( X ) requested a substitution of security <br /> (X ) requested a reduction in the amount of security necessary to <br /> complete the remaining sidewalks ; and <br /> ( X ) provided an updated cost estimate attached as Exhibit "A" ; <br /> NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL <br /> COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as <br /> follows : <br /> 1 . The date for completion of the required sidewalk improvements as <br /> outlined in the Contract for Construction of Required Sidewalk and Buffer <br /> Improvements No . PD - 99- 10 - 15 ( V ) SIDE/BUFFER ( 99070081 - 55883 ) is extended <br /> to February 26 , 2011 . <br />
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