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24 03 11 : 13a Lundberg - Young S61 569 0714 p . 2 <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> N0 . SD-01 -10"24-CFC (99080039 ) <br /> THIS MODIFICATION , made and entered into this 44A/ day of <br /> 2003 , by and between Malnstmet At Vero (Beach , Inc . , a <br /> Florida corporation , 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 , the final plat of Sabal Trace , Phase 1 , a Subdivision was <br /> approved by the Board of County Commissioners on December 11 , 2001 , and <br /> as a condition of final plat approval , the Board of County Commissioners <br /> approved a Contract for Construction of Required Improvements No . SD-01 - 10- <br /> 24"CFC (99080039 ) wherein the Developer , Mainstreet At Vero Beach , Inc . , <br /> guaranteed by performance bond the paving of streets in unplatted Phases 2 <br /> and 3 , over water and sewer lines which service Sabal Trace , Phase 1 , to be <br /> completed by December 11 , 2002 ; and <br /> WHEREAS, Developer has not completed those improvements , and is in <br /> default under the terms of the Contract for Construction of Required <br /> Improvements No . SD-01 - 10"24 -CFC (99080039 ) : and <br /> WHEREAS , County does not deem it advisable to make a claim against <br /> the performance bond because Developer has recently made application for a <br /> Replat of Sabal Trace in which the paving would be completed via the platting <br /> process of the Replat of Sabal Trace , and <br /> WHEREAS. County is requiring a modification to the existing Contract for <br /> Constructlon of Required Improvements No . SD"01 - 10-24-CFC (99080039 ) to <br /> extend the completion date of the paving before County issues the necessary <br /> permits to Developer to begin work over the unpaved area where the water and <br /> sewer lines lay ; and <br /> WHEREAS . Developer wishes to extend the contract date in which to <br /> complete the required paving improvements to December 11 , 2004; and <br /> WHEREAS , County is willing to extend the completion date ; and <br /> WHEREAS, the surety company that issued the performance bond has <br /> consented to the extension of time to complete ; and. <br /> WHEREAS , County has been provided with documentation of the <br /> continuation of the performance bond , <br />