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Amelia Plantations '2-Li — <br /> .j <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> NO. SD-03-08-22CFC (2000070058-38955) <br /> THIS MODIFICATION, made and entered into this 24th day of <br /> May , 2005, by and between Amelia Plantation Group, L.L.C., a <br /> Florida limited liability company, hereinafter referred to as "Developer", and <br /> INDIAN RIVER COUNTY, a political subdivision of the State of Florida, by and <br /> through its Board of County Commissioners, hereinafter referred to as "County". <br /> WITNESSETH : <br /> WHEREAS, Developer entered into a Contract for Construction of <br /> Required Improvements No. SD-03-08-22CFC (2000070058-38955) <br /> guaranteeing the completion of certain .required improvements, and posted <br /> Harbor Federal Savings Bank Irrevocable Letter of Credit No. 390 in the original <br /> amount of $924,101.31 as. security for the completion of those required <br /> improvements; and <br /> WHEREAS, said Harbor. Federal Savings Bunk Irrevocable Letter of <br /> Credit No. 390 has been reduced on two separate occasions, with the total <br /> amount remaining at $425,883.51; 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 Amelia Plantation was approved by the <br /> Board of County Commissioners of Indian River County on May 4, 2004; 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 for 90 days beyond the extended completion date; and <br /> WHEREAS, the Developer wishes to extend the contract date in which to <br /> complete the remaining required improvements to August 24, 2005. <br />