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TO: Board of County Commissioners FROM:C-William G. Collins II - Deputy County Attorney DATE: March 12, 2002 SUBJECT: Indian River Courts PD - Modification to Contract for Construction of Required Improvements On April 10, 2001 the Board of County Commissioners approved Contract for Construction of Required Improvements No. PD -99 -08 -09 -CFC (98100061- 23306) in connection with the plat of Indian River Courts, P.D. Security in the form of a Performance Bond in the amount of $113,177.25 was posted with Indian River County to guarantee the installation of required improvements. All required improvements have been completed with the exception of sidewalks and landscaping, and the developer's agent has requested a 1 -year extension of time to complete those two improvements (see agent's letter attached) Substitute security in the form of cash in the amount of $29,296.25 has been posted. The $29 296 25 represents 115% of the cost of construction of both the sidewalk and landscaping improvements and that amount has been approved by both the Planning and Engineering Departments. RECOMMENDATION: Staff recommends that the attached Modification to Contract for Construction of Required Improvements No. PD -99 -08 -09 -CFC (98100061-23306) extending the completion date to April 9, 2003 be approved, and that the Chairman of the Board of County Commissioners be authorized to execute said Modification along with the accompanying Cash Deposit and Escrow Agreement. Nhm Attachments ON MOTION by Commissioner Ginn, SECONDED BY Commissioner Adams, the Board unanimously approved the Modification to Contract for Construction of Required Improvements No. PD -99 -08 -09 -CFC (98100061-23306) extending the completion date to April 9, 2003, and authorized the Chairman to execute the modification along with the accompanying Cash Deposit and Escrow Agreement, as recommended in the memorandum. March 19, 2002 22 r;