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Paladin Place ItO Ili Gild 1 L � �: I �, <br /> lip <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 ) requested a reduction in the amount of security necessary to <br /> complete the remaining 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 />