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Ashley Lakes North <br /> 7. � o <br /> MODIFICATION TO a U7] ,� 7 L� <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> NO . SD-04-10 -48-CFC (2004020225-48531 ) <br /> THIS MODIFICATION , made and entered into this 5th day of <br /> DQGQMbor. , 2006 , by and between Ashley Lakes North , LLC , a Florida <br /> limited liability company, hereinafter referred to as " Developer" , and INDIAN <br /> RIVER COUNTY, a political subdivision of the State of Florida , by and through its <br /> Board of County Commissioners , hereinafter referred to as "County" . <br /> WITNESSETH : <br /> WHEREAS , Developer entered into a Contract for Construction of <br /> Required Improvements No . SD-04- 10-48-CFC (2004020225-48531 ) <br /> guaranteeing the completion of certain required improvements on or before <br /> September 13 , 2006 ; and <br /> WHEREAS , those certain required improvements are not completed ; and <br /> WHEREAS , the Indian River County Code Section 913 . 10 ( 1 ) (6 ) allows up <br /> to one year from date of final approval for the required improvements to be <br /> completed ; and <br /> WHEREAS , the Indian River County Code Section 913 . 10( 1 )(E ) states <br /> that for good cause shown , the Board of County Commissioners may in its <br /> discretion grant one or more extensions of time for performance of any contract <br /> for required improvements , provided the surety supporting such contract remains <br /> valid for the required 90-day period following the newly extended time for <br /> performance ; and <br /> WHEREAS , the final plat for Ashley Lakes North was approved by the <br /> Board of County Commissioners of Indian River County on September 13 , 2005 ; <br /> and <br /> WHEREAS , Developer wishes to extend the date in which to complete <br /> those required improvements until September 13 , 2007 and has provided an <br /> updated certified cost estimate attached as Exhibit "A" ; and <br /> WHEREAS , it is staffs recommendation to extend the date in which to <br /> complete those required improvements to September 13 , 2007 with the letter of <br /> credit supporting such contract extension to be extended to December 13 , 2007 ; <br /> and <br /> NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL <br /> COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as <br /> follows : <br />