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9/30/2015 10:41:41 PM
Official Document Type
Agenda Item Number
Stoneybrook Farms Group LLC
Third Modification to contract Completion of required 8th St. turn lane
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A TRUE COPY <br /> CERTIFICATION ON LAST PAGE <br /> J .K. BARTON, CLERK <br /> WHEREAS, staff has approved said engineer's updated certified cost <br /> estimate and has no objection to an extension to August 27 , 2007 so long as the <br /> AmSouth Bank Irrevocable Letter of Credit #79531596 is further amended or <br /> acceptable alternate security provided to extend the expiration date to 90 days <br /> beyond the August 27 , 2007 date ( November 27 , 2007 ) , <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 8th Street turn lane <br /> improvements is extended to August 27 , 2007 . <br /> 2 . Indian River County is to receive no later than 5 : 00 p . m . on April 9 , <br /> 2007 , an Amendment No . 3 to AmSouth Bank Irrevocable Letter of Credit <br /> #79531596 extending the expiration date 90 days beyond the August 27 , 2007 <br /> extension date (November 27 , 2007), or acceptable alternate security, otherwise <br /> this Third Modification shall be null and void and staff will proceed to call the <br /> AmSouth Bank Irrevocable Letter of Credit #79531596 on April 10 , 2007 . <br /> 3 . Only 30 certificates of occupancy will be issued for residences <br /> within Stoney Brook Farm until the 8th Street turn lane has been constructed and <br /> inspected to the satisfaction of the County. A 3-year maintenance bond for the <br /> turn lane improvements must be in place with the County before the 31St <br /> certificate of occupancy will be issued . <br /> 4 . All other terms set out in the Contract for Construction of Required <br /> Improvements No. SD-04-05- 17-CFC (2003110240-46697) , and Second <br /> Modification , attached as Exhibits "B" and "C" respectively, remain in full force <br /> 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 /> STONEYBROOK FARMS GROUP , <br /> L. L.C . , a Florida limited liability <br /> Signed in the presence of: company <br /> DEVELOPER <br /> Sign : L ran r ��m : Ih�n ( U C , <br /> Print: By: <br /> Chad Kelly, Man er <br /> Sign : U <br /> Print: <br /> 2 <br /> F:lAttomey\Nancy\DOCS\PLAN\MODIFICATION 3d TO K for cons stoneybrook farms.doc <br />
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