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A 9 /0 Citrus Springs Village "D" & "F" Phase 1 - P.D. 1 - 3I q MODIFICATION TO CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK IMPROVEMENTS NO. PD-03-01 -03 -SIDEPH1 (99100114-37258 ) THIS MODIFICATION , made and entered into this t day of September 2006 , by and between The Suntree Partners, a Florida general partnership , 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 Sidewalk Improvements No . PD-03-01 -03-SIDEPH1 (99100114- 37258 ) guaranteeing the completion of certain required sidewalk improvements ; and WHEREAS , certain of the required sidewalk improvements are not completed as outlined in Exhibit "A" attached hereto, and WHEREAS, the Indian River County Code requires the developer to construct required sidewalk improvements , within two years from the date of final plat approval with the ability to extend the contract for construction and posted security for an additional two years ; and WHEREAS, the final plat for Citrus Springs Village " D " & "F" Phase 1 - P . D. was approved by the Board of County Commissioners of Indian River County on June 8 , 2004 ; and WHEREAS , Developer wishes to extend the contract date in which to complete the remaining required sidewalk improvements to June 8 , 2008 which is within the code requirement; and WHEREAS , Developer additionally wishes to reduce the amount of security in place since a majority of the sidewalks has been constructed and inspected ; and WHEREAS , adequate security, in the form of cash , has been posted and Developer has entered into a Cash Deposit and Escrow Agreement, NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as follows :