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i <br /> Lost Lake Subdivision <br /> A TRUE COPY <br /> CERTIFICATION ON LAST PAGE <br /> J . R . SMITH , CLERK C7 <br /> 8 .0 . <br /> SECOND MODIFICATION TO <br /> SUBSTITUTE CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br /> IMPROVEMENTS <br /> NO. SD=05 -08 -39 -CFCSUBSIDE (2003080256 =53385) <br /> 7r � <br /> THIS MODIFICATION , made and entered into this day of October, <br /> 2012 , by and between HIERS PROPERTIES , L . L. C . , a Florida limited liability <br /> company, hereinafter referred to as "Successor Developer ' , and INDIAN RIVER <br /> COUNTY, a political subdivision of the State of Florida , by and through its <br /> Board of County Commissioners , hereinafter referred to as "County" . <br /> WITNESSETH : <br /> WHEREAS , Successor Developer entered into a Substitute Contract for <br /> Construction of Required Sidewalk Improvements No . SD-05-08-39- <br /> CFCSUBSIDE (2003080256-53385) guaranteeing the completion of certain <br /> required sidewalk improvements within Lost Lake Subdivision on or before July <br /> 11 , 2010 and posted Marine Bank & Trust Company Irrevocable Letter of Credit <br /> No . 2008-39 in the amount of $26 , 647 . 50 , expiring on October 11 , 2010 , as <br /> security to guarantee completion , and <br /> WHEREAS , by Modification to Substitute Contract for Construction of <br /> Required Sidewalk Improvements No . SD-05-08-39-CFCSUBSIDE <br /> (2003080256=53385) , a 2-year extension to July 11 , 2012 was granted to <br /> complete the required sidewalks , and an acceptable amendment to the existing <br /> letter of credit was provided , extending the expiration date to October 11 , 2012 ; <br /> and <br /> WHEREAS , the Successor Developer has requested an additional two- <br /> year extension to July 11 , 2014 to complete the remaining required sidewalk <br /> improvements ; and ` <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 Modification to Substitute Contract for Construction of Required <br /> Sidewalk Improvements No . PD-05-08-39-CFCSUBSIDE (2003080256=53385) is <br /> further extended to July 11 , 2014 so long as by 5 : 00 p . m . on October 9 , 2012. the. <br />