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Mfllstme Landing PQ, Phase 3 <br />MODIFICATION TO <br />CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br />IMPROVEMENTS <br />NO. PD-04.08-14JC)SIDEPH3 (2003100068-55786) <br />THIS MODIFICATION, made and entered into this � day of <br />2009, by and between ShelbyI Homes at litst-one, Inc., a <br />Florida corporation, hereinafter referred to as "Developer, and INDIAN RIMER <br />COLfNTY, a political subdlvislon 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 (2003100068- <br />55788) guaranteeing the completion of certain required sidewalk improvements <br />on or before October 16, 2045 and posted $85,425.00 Regions Bank Irrevocabie <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 riot deferred; and <br />(X) provided an updated 6ertifi6d c6st esltmAe attached as 'Exhib(t`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 required sidewalk improvements as <br />outlined in the Contract for Construction of Required Sidewalk improvements No. <br />PD -04 -08-14-(C)SIDEPH3 (2003100058-55786) is extended to October 16, <br />2011. <br />APPf OVED .AS TQ FORM <br />AND GAL S Ff <br />ty 11Y . B <br />19 <br />--- WILUi t K. O.WAAL <br />