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<br />ON MOTION by Commissioner Bowden, SECONDED by <br />Commissioner Davis, the Board unanimously accepted the <br />mediated settlement amount of $72,500.00 in full and final <br />resolution of the case, as recommended in the memorandum of <br />October 18, 2006. <br /> <br /> <br /> <br />7.V. THE OAKS OF VERO - P.D., PHASE 2, DEVELOPER: <br />SDG KINGS, INC. (BRET SOVEREL, PRESIDENT), <br />REQUEST FOR MODIFICATION TO CONTRACT FOR <br />CONSTRUCTION OF REQUIRED IMPROVEMENTS <br />AND CONTRACT FOR CONSTRUCTION OF REQUIRED <br />SIDEWALK IMPROVEMENTS <br /> <br />ON MOTION by Commissioner Bowden, SECONDED by <br />Commissioner Davis, the Board unanimously approved the <br />Modification to Contract for Construction of Required <br />Improvements No. PD-01-06-15-CFC (2000100085-44643) <br />providing for the substitution of security by Mercedes Homes, Inc. <br />on behalf of SDG Kings, Inc. in the form of a Bank of America, <br />N.A. irrevocable letter of credit in the amount of $192,670.51 and <br />Modification to Contract for Construction of Required Sidewalk <br />Improvements No. PD-01-06-15-SIDECFC <br />(20000100085-44643) providing for the substitution of security of <br />October 24, 2006 <br />24 <br /> <br /> <br />