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Paladin Place It <br />0 <br />IO 0 I GIN 1 "O .j `, <br />lip <br />.�1 <br />C 0OR <br />MODIFICATION TO <br />CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br />IMPROVEMENTS <br />NO. SD -04 -06 -25 -SIDE (96020082-46698) <br />THIS MODIFICATION, made and entered into this 3rd day of June, <br />2008, by and between Atlantic Coast Construction and Development, Inc., a <br />Florida corporation, hereinafter referred to as "Developer", and INDIAN RIVER <br />COUNTY, a political subdivision of the State of Florida, by and through its Board <br />of County Commissioners, hereinafter referred to as "County". <br />WITNESSETH: <br />WHEREAS, Developer entered into a Contract for Construction of <br />required Sidewalk Improvements No. SD -04 -06 -25 -SIDE (96020082-46698) <br />guaranteeing the completion of certain required sidewalk improvements on or <br />before February 21, 2008 and posted a letter of credit as security to guarantee <br />completion; and <br />WHEREAS, certain of the sidewalk improvements have not yet been <br />constructed; and <br />WHEREAS, the developer has <br />(X) requested an additional two-year extension to February 21, 2010 to <br />complete the remaining required sidewalk improvements, as <br />allowed by code; <br />(X) requested a substitution of security (from letter of credit to cash); <br />(X) <br />requested a <br />reduction <br />in the amount of security necessary to <br />complete the <br />remaining <br />sidewalks; and <br />(X) provided an updated certified cost estimate attached as Exhibit "A"; <br />NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL <br />COVENANTS AND PROMISES HEREIN CONTAINED, the parties agree as <br />follows: <br />1. The date for completion of the required sidewalk improvements as <br />outlined in the Contract for Construction of Required Sidewalk Improvements No. <br />SD -04 -06 -25 -SIDE (96020082-46698) is extended to February 21, 2010. <br />