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Millstone Landing PD, Phase 3 <br />A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.K. BARTON, CLERK <br />MODIFICATION TO <br />CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br />IMPROVEMENTS <br />NO. PD-04-08-14=(C)SIDEPH3 (2003100068-55786) <br />THIS MODIFICATION, made and entered into this q- day of <br />(�9j, , , 2009, by and between Shelby Homes at Millstone, 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, Developer entered into a Contract for. Construction of <br />required Sidewalk Improvements No. PD-04-08-14-(C)SIDEPH3 (200310006& <br />55786) guaranteeing the completion of certain required sidewalk improvements <br />on or before October 16, 2009 and posted $85,425.00 Regions Bank Irrevocable <br />Standby Letter of Credit No. 55101730 as security to guarantee completion; and <br />WHEREAS, portions of the required sidewalk improvements have been <br />completed and portions of required sidewalks not yet constructed but meeting <br />certain criteria have been deferred; and <br />WHEREAS, the developer has <br />(X) requested an additional two-year extension to October 16, 2011 to <br />complete the remaining required sidewalk improvements, as <br />allowed by code; <br />() requested a substitution of security <br />(X) requested a reduction in the amount of security necessary to <br />complete the remaining sidewalks not deferred; and <br />(X) provided an updated certified cost estimate attached as Exhibit "A"; <br />NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL <br />COVENANTS AND PROMISES HEREIN CONTAINED, the parties agree as <br />follows: <br />14 The date for completion of the required sidewalk improvements as <br />outlined in the Contract for Construction of Required Sidewalk Improvements No. <br />PD-04-08-14-(C)SIDEPH3 (2003100068-55786) is extended to October 16, <br />2011, <br />APPROVED AS TO <br />AND t 9GAL SVFFIC <br />10 <br />WILLIAM K. DEBRAAL <br />DEPUTYGOUNTYATTORNEY <br />