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v Windsor Plat 25 P . D. <br /> / C) <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> NO . PD -03 -01 -06 (2002100039 -34925 ) <br /> THIS MODIFICATION , made and entered into this 12th day of <br /> October 2004 , by and between WINDSOR PROPERTIES , a Florida <br /> general 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 Improvements No . PD-03-01 -06 (2002100039 - 34925 ) , attached as <br /> Exhibit "A " , guaranteeing the completion of certain required improvements and <br /> posted Wachovia Bank , National Association Irrevocable Standby Letter of <br /> Credit No . SM203748W in the amount of $443 , 083 . 59 as security for the <br /> completion of those required improvements ; and <br /> WHEREAS , the required improvements are not all completed ; and <br /> WHEREAS , Indian River County Code Section 913 . 10 ( 1 ) ( B ) allows up to <br /> one year from date of final plat approval for the required improvements to be <br /> completed ; and <br /> WHEREAS , the final plat for Windsor Plat 25 P . D . was approved by the <br /> Board of County Commissioners of Indian River County on June 24 , 2003 ; and <br /> WHEREAS , Indian River County Code Section 913 . 10 ( 1 ) ( E ) states that <br /> for good cause shown , the Board of County Commissioners may in its discretion <br /> grant one or more extensions of time for performance of any contract for <br /> required improvements , provided the surety supporting such contract remains <br /> valid ; and <br /> WHEREAS , the Developer wishes to extend the contract date in which to <br /> complete the remaining required improvements and has substituted $443 , 083 . 59 <br /> cash and has entered into a Cash Deposit and Escrow Agreement , attached as <br /> Exhibit " B " in support of the contract and modification , <br /> NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL <br /> COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as <br /> follows : <br />