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MODIFICATION TO CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS NO . PD -00 -09 -17 -SC (99070081 ) THIS MODIFICATION , made and entered into this 4th day of March 2003 , by and between Pointe West of Vero Beach , Ltd . , a Florida limited partnership , hereinafter referred to as " Developer" , and INDIAN RIVER COUNTY , a political subdivision of the State of Florida , by and through its Board of County Commissioners , hereinafter referred to as " County" . WITNESSETH : WHEREAS , Developer entered into a Contract for Construction of Required Sidewalk Improvements No . PD-00 -09 - 17-SC (99070081 ) guaranteeing the completion of certain required sidewalk improvements on or before March 1 , 2003 ; and WHEREAS , certain of the required improvements are not completed as outlined in Exhibit "A" attached hereto , and WHEREAS , the Indian River County Code requires the developer to construct required sidewalk improvements , within two years from the date of final plat approval , but with approval can be extended an additional two years ; and WHEREAS , the final plat for Pointe West Central Village , Phase 11 P . D . was approved by the Board of County Commissioners of Indian River County on March 13 , 2001 ; and WHEREAS , Developer wishes to extend the contract date in which to complete the remaining required sidewalk improvements to March 1 , 2005 which is within the additional 2-year code allowance ; and WHEREAS , the Developer wishes to substitute the security now in place from an irrevocable letter of credit to cash , as well as reduce the security to cover the remaining sidewalk improvements to be constructed , NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows : 1 . The date for completion of the remaining required sidewalk improvements as outlined in the Contract for Construction of Required Sidewalk Improvements No . PD =00 -09 -17 -SC (99070081 ) is extended to March 1 , 2005 .