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J� Pointe West South Village, Phase I P.D. 11 / 7 / D (, <br /> 7 , F <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK <br /> IMPROVEMENTS <br /> NO. PD-04-04-06-CFCSIDE (99070081 ) <br /> THIS MODIFICATION , made and entered into this 7th day of <br /> Novembar , 20067 by and between Pointe West of Vero Beach, Ltd . , a <br /> Florida limited partnership, 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 Sidewalk Improvements No . PD-04-04-06-CFCSIDE (99070081 ) <br /> guaranteeing the completion of certain required sidewalk improvements and <br /> posted as security to guarantee completion , a Wachovia Bank Irrevocable <br /> Standby Letter of Credit Number SM217549 in the amount of $ 105 , 184 .98 , <br /> expiring on November 12 , 2006 ; and <br /> WHEREAS , a portion of sidewalk improvements has been completed ; and <br /> WHEREAS , the developer has : <br /> 1 . requested an additional two-year extension to August 17 , 2008 to <br /> complete the remaining required sidewalk improvements , as <br /> allowed by code; <br /> 2 . requested a reduction in the amount of security necessary to <br /> complete the remaining sidewalks to $25 , 576 . 50 ; and <br /> 3 . 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 /> PD-04-04-06-CFCSIDE (99070081 ) is extended to August 17 , 2008 . <br />