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Section 913.10(1)(E) of the County Code states that for good cause shown the Board may, in <br />its discretion, grant one or more extensions of time for performance of any contract for <br />construction of required improvements provided the security supporting such contract remains <br />valid for the required 90 -day period following the newly extended time for performance. <br />The Public Works Director and the Current Development Chief have no objection to the third <br />additional 2 -year extension, and have approved the submitted updated certified cost estimate. <br />A map depicting the location of where the final lift of asphalt is to be laid is attached to the <br />Third Modification. Additionally, if after an inspection is performed by the County and it <br />reveals that there is any deficiency in the roadway base, the developer must repair any <br />deficiency noted in such inspection prior to the laying of the final lift of asphalt. <br />FIT"INf <br />There is no cost to be borne by Indian River County with respect to this item. <br />RECOMMENDATION: <br />Approve the Third Modification to Contract for Construction for Final Lift of Asphalt, <br />Contract No. PD -13 -10 -03 -FLA (2001020101-77703) to extend the completion date to <br />December 16, 2024, and authorize the Chairman to execute same. It is noted that the <br />supporting cash security will continue to remain in escrow along with the additional posted <br />funds covering the increase on the new cost estimate <br />ATTACHMENTS: <br />Letter Request for Extension <br />Third Modification to Contract <br />Amended Cash Deposit and Escrow Agreement <br />2 <br />48 <br />