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• <br />NO ACTION REQUIRED OR TAKEN. <br />7.D. The Laurels, Phase III R IV - Modification to Contract for <br />Construction of Required lWrovenzents <br />The Board reviewed a Memorandum of July 20, 1998: <br />TO: Board of County Commissioners <br />FROM: ;jam' William G. Collins II - Deputy County Attorney <br />DATE: July 20, 1998 <br />SUBJECT: The Laurels, Phase III and IV - Modification to Contract for <br />Construction of Required Improvements <br />On July 7, 1998 the Board of County Commissioners approved the Contract for <br />Construction of Required Improvements (No. SD -92-10-005-A3/4) in connection <br />with the plat of The Laurels, Phase III and IV. Security in the form of a letter of <br />credit in the amount of $60,349.42 has been posted with Indian River County to <br />guarantee the installation of required improvements. The security expires on <br />November 10, 1998. <br />Pursuant to the contract, the required improvements are to be completed by <br />August 1, 1998. The developer, Laurel Homes, Inc., has requested an extension <br />of the time to complete the required improvements to August 10, 1998. <br />RECOMMENDATION: <br />Staff recommends that the attached Modfcation to Contract for Construction of <br />Required Improvements (No. SD -92-10-005-A3/4) extending the completion date <br />to August 10, 1998 be approved, and that the Chairman of the Board of County <br />Commissioners be authorized to execute said Modification. <br />ON MOTION by Commissioner Eggert, SECONDED BY <br />Commissioner Ginn, the Board unanimously approved the <br />Modification to Contract for Construction of Required <br />Improvements extending the completion date to August 10, <br />1998, and authorized the Chairman to executed the same, as <br />recommended in the memorandum. <br />July 28, 1998 <br />COPY OF MODIFICATION ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />Book 106 rnt-384 <br />