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add verbiage that the successor developer may post either an acceptable letter of credit or a cash <br /> bond by January 7 , 2011 , and requested that the Board approve the subject contract . <br /> MOTION WAS MADE by Commissioner Davis , <br /> SECONDED by Commissioner Flescher, to approve <br /> staff' s recommendation. <br /> Attorney Polackwich, responding to questions from the Commissioners , provided further <br /> details on the cash bond, and confirmed that the existing letter of credit would be pulled if SLV <br /> Millstone , LLC does not provide a new letter of credit or cash bond by January 7 , 2011 . <br /> The Chairman CALLED THE QUESTION , and the <br /> Motion carried unanimously . The Board approved and <br /> authorized the Chairman to execute the Second <br /> Modification to and Assignment of Contract for <br /> Construction of Required Sidewalk Improvements with <br /> SLV Millstone , LLC , the Assignee, provided, however, <br /> that the following documents are received no later than <br /> 5 : 00 p . m . on January 7 , 2011 and are acceptable to the <br /> County Attorney ' s Office : <br /> 1 . Executed Notice of Transfer and Assumption of <br /> Planned Residential Development Approvals and <br /> Obligations (for Phase 3 ) ; <br /> 2 . Executed Second Modification to and Assignment of <br /> Contract for Construction of Required Sidewalk <br /> Improvements No . PD- 04- 08 - 14- (C) SIDEPH3 <br /> (2003100068 - 55786) ; and <br /> 3 . Replacement letter of credit in the amount of <br /> $45 , 168 . 88 ; <br /> January 4 , 2011 5 <br />