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Provence Bay <br />MODIFICATION TO <br />CONTRACT FOR CONSTRUCTION FOR FINAL LIFT OF ASPHALT <br />CONTRACT NO. SD -04 -10 -46 -FLA <br />THIS MODIFICATION, made and entered into this day of March, <br />2015, by and between CENTEX HOMES, a Nevada general partnership, <br />hereinafter referred to as "Developer", and INDIAN RIVER COUNTY, a political <br />subdivision of the State of Florida, by and through its Board of County <br />Commissioners, hereinafter referred to as "County". <br />WITNESSETH: <br />WHEREAS, Developer entered into a Contract for Construction for Final <br />Lift of Asphalt (Contract No. SD -04 -10 -46 -FLA) guaranteeing the installation of <br />the final lift of asphalt the earlier of 2 years from the project's Certificate of <br />Completion (March 12, 2015) or 60 days prior to turnover to homeowner <br />association or prior to certificate of occupancy for the last residence in this phase <br />of the subdivision; and the Developer posted a Wells Fargo Bank irrevocable <br />standby letter of credit in the amount of $60,456.25 (expiring on June 12, 2015) <br />as security to guarantee completion; and <br />WHEREAS, the developer has <br />1. requested an additional two-year extension to March 12, 2017 to <br />install the final lift of asphalt, as allowed by code; <br />2. requested a reduction in the amount of security necessary to install <br />the final lift of asphalt; and <br />3. 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 />1. The date for completion of the final lift of asphalt as outlined in the <br />Contract for Construction for Final Lift of Asphalt (Contract No. SD -04 -10 -46 - <br />FLA) is extended to March 12, 2017. <br />1 <br />72 <br />