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2. The $85,425.00 Regions Bank Irrevocable Standby Letter of Credit <br />No. 55101730 on deposit for sidewalks Is to be reduced to $45,168.88 which <br />amount represents -125% -of the remaining (not deferred) sidewalk improvements <br />to - be completed as evidenced by developer's engineer's -certified cost estimate <br />as approved by County engineering, attached as Exhibit 'A#; and the letter of <br />credit guarantying the completion is to be extended to January 16, 2012 which is <br />mays beerrd h e -newt extende e: <br />3. All ether terms set out In the Contract for Construction of Required <br />Sidewalk improvements, No. PD-04-08-14-(C)SIDEPH3 - (2003100068-55786) <br />remain In full force and effect. <br />IN WITNESS WHEREOF, the parties hereto have set their hands and <br />seals on the day and year- first above written. <br />SHELBY HOMES AT MILLSTONE, <br />INC., a Florida -corporation <br />Signed in the {presence of: <br />Abbirt: -9 <br />s r <br />• <br />X <br />L J <br />DEVELOPER <br />INDIAN RIVER COUNTY, FLORIDA <br />by and through its Board of County <br />Commissioners <br />By: <br />Cbri R. Mora, P.. <br />Public E <br />Director <br />By 6. { <br />obert M. Keating,'AI <br />e <br />Community Developmt Dire <br />Authority: §913.09(5)(b)2.c, IRC Code <br />2 <br />20 <br />