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Lakes at Waterway Village PD — Pod U <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 -16 -12 -07 -FLA (2004010124-83766) <br />THIS MODIFICATION, made and entered into this day of October, 2021, <br />by and between DIVOSTA HOMES, L.P., a Delaware limited partnership, hereinafter <br />referred to as "Developer", and INDIAN RIVER COUNTY, a political subdivision of <br />the State of Florida, by and through its Board of County Commissioners, <br />hereinafter referred to as "County". <br />WITNESSETH: <br />WHEREAS, Developer entered into a Contract for Construction for Final Lift of <br />Asphalt, Contract No. PD -16 -12 -07 -FLA (2004010124-83766) guaranteeing the <br />installation of the final lift of asphalt the earlier of 2 years from the project's Certificate of <br />Completion (November 27, 2019) or 60 days prior to turnover to homeowner <br />association or prior to certificate of occupancy for the last residence in this phase of the <br />subdivision; and the Developer posted letter of credit in the amount of $41,165.00 as <br />security to guarantee completion; and <br />WHEREAS, the developer has <br />requested an additional 2 -year extension to November 27, 2023 to install <br />the final lift of asphalt, as allowed by code; <br />2. provided an updated certified cost estimate attached as Exhibit "A" which <br />amount has been approved by County engineering and did change from <br />the initial cost estimate; <br />3. increased the initial cost estimate of $41,165.00 to $59,848.95; and <br />4. paid the required $660.00 extension fee request to County. <br />NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS <br />AND PROMISES HEREIN CONTAINED, the parties agree as follows: <br />1. The date for completion of the final lift of asphalt as outlined in the Contract for <br />Construction for Final Lift of Asphalt, Contract No PD -16 -12 -07 -FLA <br />(2004010124-83766) is extended to November 27, 2023. <br />2. The developer's engineer's updated certified cost estimate as approved by <br />County engineering, attached as Exhibit "A" represents 125% of the updated <br />cost of the final lift of asphalt to be completed. <br />