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10/1/2015 1:18:59 AM
Official Document Type
Agenda Item Number
Modification to Contract Required Improvments
Isles at Waterway Village
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Isles at Waterway Village PD — Plat 1 C <br /> C00 Tp o9oo66 <br /> r <br /> MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> NO . PD -05 - 04 -08 ( C ) - CFC (2004010124 -56284) <br /> THIS MODIFICATION , made and entered into this 6th day of January , <br /> 2009 , by and between DIVOSTA HOMES , L . P . , a Delaware limited <br /> partnership , 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 Improvements No . PD - 05 - 04 - 08 ( C ) - CFC ( 2004010124 - 56284 ) <br /> guaranteeing the completion of certain required iprevernents on or before <br /> October 16 , 2008 and posted a SunTrust Bank Irrevocable Letter of Credit No . <br /> F851084 in the amount of $ 1 , 009 , 718 . 57 as security to guarantee completion ; <br /> and <br /> and WHEREAS , a portion of the required improvements has been completed ; <br /> WHEREAS , the developer has requested ail extension to June 30 , 2009 <br /> to complete the remaining required improvements and has presented an <br /> amendment to the existing letter of credit extending the expiration date to <br /> September 30 , 2009 ; <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 improvements as outlined in <br /> the Contract for Construction of Required Improvements No . PD - 05 -04 - 08 ( C ) - <br /> CFC ( 2004010124- 56284 ) is extended to June 30 , 2009 , <br /> 2 . The Amendment No . 001 to SunTrust Bank Irrevocable Letter of <br /> Credit No . F851084 extending the expiration date of September 30 , 2009 is <br /> acceptable . <br /> 3 . All other terms set out in the Contract for Construction of Required <br /> Improvements No . PD - 05 - 04 - 08 ( C ) - CFC ( 2004010124 -56284 ) remain in full <br /> force and effect . <br />
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