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Lost Latin Subdli<ision <br /> IF F I <br /> ATRUECOPY 4 f 0 " a35 <br /> CERTIFICATION ON LAST PAGE <br /> J . K . BARTON , CLERK <br /> MODIFICATION TO <br /> SUBSTITUTE CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br /> IMPROVEMENTS <br /> NO . SD -05 -08 -39 -CFCSUBSIDE ( 2003080256 -53385 ) <br /> THIS MODIFICATION , made and entered into this 5th day of <br /> October , 20107 by and between HIERS PROPERTIES , L . L . C . , a Florida <br /> limited liability company , hereinafter referred to as " Successor Developer" , and <br /> INDIAN RIVER COUNTY , a political subdivision of the State of Florida , by <br /> and through its Board of County Commissioners , hereinafter referred to as <br /> " 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 on or before July 11 , 2010 and posted Marine <br /> Bank & Trust Company Irrevocable Letter of Credit No . 2008 - 39 in the amount of <br /> $ 26 , 647 . 50 , expiring on October 11 , 2010 , as security to guarantee completion ; <br /> and <br /> WHEREAS , the Successor Developer has requested a two -year extension <br /> to July 11 , 2012 to complete the remaining required sidewalk improvements ; and <br /> WHEREAS , the Successor Developer has presented Marine Bank & Trust <br /> Company Irrevocable Letter of Credit No . 2010 -46 , renewing Irrevocable Letter <br /> of Credit No . 2008 - 39 , extending the expiration date to October 11 , 2012 ; <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 /> extended to July 11 , 2012 . <br /> 2 . The Marine Bank & Trust Company Irrevocable Letter of Credit No . <br /> 2010 -46 , renewing Irrevocable Letter of Credit No . 2008 - 39 to extend the <br /> expiration date to October 11 , 2012 is acceptable . <br />