2006-382 - Laserfiche WebLink

Home Browse Search

The Antilles Subdivision 1/ 7 �G MODIFICATION TO CONTRACT. FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO. SD-04-08-37-CFC (200402020546588) THIS MODIFICATION , made and entered into this 7th day of Nwuember , 2006 , by and between Antilles Vero Beach , LLC, a Florida limited liability company, hereinafter referred to as "Developer ', and INDIAN RIVER COUNTY, a political subdivision of the State of Florida , by and through its Board of County Commissioners , hereinafter referred to as "County" . WITNESSETH : WHEREAS , Developer entered into a Contract for Construction of Required Improvements No. SD-04-08-37-CFC (2004020205-46588 ) guaranteeing the completion of certain required improvements within the plat of The Antilles Subdivision on or before August 16 , 2006 ; and WHEREAS , Developer posted a Colonial Bank, N .A. Standby Letter of Credit No. SB 992380 in the amount of $4 ,297, 528 . 12 as security for the completion of the required improvements which will expire on November 16, 2006 ; and WHEREAS , Developer has requested an extension to December 222 2006 to completaJhe required improvements due to delays by the utility provider; and WHEREAS , staff has no objection to an extension to December 22, 2006 so long as the security guaranteeing the completion of required improvements is amended to extend the expiration date to 90 days beyond the requested extension date , NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows: 1 . The date for completion of the required improvements as outlined in the Contract for Construction of Required Improvements No . SD-04-08-37- CFC (2004020205-46588 ) is extended to December 22 , 2006 . 2. The Colonial Bank, N .A. Standby Letter of Credit No . 992380 is to be amended to extend the expiration date to March 22 , 2007 which is 90 days beyond the newly requested December 22 , 2006 extension date. 3 . The amendment to Colonial Bank, N .A. referenced in paragraph 2 above must be received no later than 2 :00 p. m . on Tuesday, November 7 , 2006 by the County Attorney's Office otherwise this Modification is null and void .