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Cove At Falcon Trace PD Plat 7 <br />A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <br />MODIFICATION TO <br />CONTRACT FOR CONSTRUCTION FOR FINAL LIFT OF ASPHALT <br />CONTRACT NO. PD -14 -07 -06 -FLA (2001050202-80548) <br />THIS MODIFICATION, made and entered into this 7 day of <br />1 , 2021, by and between D.R. NORTON, INC., a Delaware <br />corporation, hereinafter referred to as "Developer", and INDIAN RIVER <br />COUNTY, a political subdivision 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 for Final <br />Lift of Asphalt, Contract No. PD -14 -07 -06 -FLA (2001050202-80548) <br />guaranteeing the installation of the final lift of asphalt the earlier of 2 years from <br />the project's Certificate of Completion (February 22, 2019) or 60 days prior to <br />turnover to homeowner association or prior to certificate of occupancy for the last <br />residence in this phase of the subdivision; and the Developer posted a letter of <br />credit in the amount of $140,450.00 as security to guarantee completion; and <br />WHEREAS, the developer has <br />1. requested an additional 2 -year extension to February 22, 2023 to <br />install the final lift of asphalt, as allowed by code; <br />2. provided an updated certified cost estimate attached as Exhibit "A" <br />which amount has been approved by County engineering and did <br />not change from the initial cost estimate; <br />3. paid the required $660.00 extension fee request to County; and <br />4. provided an acceptable amendment to its existing Wells Fargo <br />Bank, N.A. Irrevocable Standby Letter of Credit No. IS000073838U <br />which extends the expiration date to August 22, 2023. <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. PD -14 -07 -06 -FLA <br />(2001050202-80548) is extended to February 22, 2023. <br />