|
.� . .
<br /> 0o ,
<br /> ASSIGNMENT OF (7
<br /> CONTRACT FOR CONSTRUCTION OF REQUIRED �> !� C' -' - L . '� 14
<br /> SIDEWALK IMPROVEMENTS
<br /> No . SD- 04- W39 - CFCSIDE (200307003846952)
<br /> WHEREAS , on September 13 , 2005 , Lennar Homes , Inc . , a Florida corporation ,
<br /> entered into Contract for Construction of Required Sidewalk Improvements No . SD - 04 -09 - 39 -
<br /> CFCSIDE (2003070038- 46952), copy attached , with Indian River County in connection with
<br /> property platted as Verona Trace Subdivision and The Villas at Verona Trace ; and
<br /> WHEREAS , on December 6 , 2007 said contract was modified by Modification to
<br /> Contract for Construction of Required Sidewalk Improvements, copy attached, wherein
<br /> Lennar Homes , Inc . , a Florida corporation , now known as Lennar Homes , LLC , a Florida
<br /> limited liability company (by Certificate of Conversion riled November 30 , 2006) requested
<br /> an additional 2 -year extension to September 13 , 2009 to complete the remaining required
<br /> sidewalks ; and
<br /> WHEREAS , a portion or the sidewalks has been installed , and Lennar HOilles , LLC
<br /> has submitted documentation to that effect , requesting a reduction to the amount of security
<br /> necessary to construct the remaining sidewalks ; and
<br /> WHEREAS , County staff has verified the sidewalk quantities remaining to be
<br /> completed and supports a reduction in security from $ 590 , 625 . 00 to $383 , 906 . 25 ; and
<br /> WHEREAS , additionally , Lennar Homes , LLC wishes to transfer and assign its
<br /> interest in the property to MS Rialto Verona Trace FL , LLC , a Delaware limited liability
<br /> company , and MS Rialto Verona Trace FL , LLC wishes to assume the obligations under said
<br /> Contract for Construction of Required Sidewalk Improvements, as modified and substitute
<br /> cash as security to guarantee the completion of the remaining sidewalks ; and
<br /> WHEREAS , under paragraph 10 of said Contract for Construction of Required
<br /> Sidewalk Improvements , the agreement shall not be assigned without the express written
<br /> approval of the County ; and
<br /> NOW , THEREFORE , the parties agree to the assignment of Contract for
<br /> Construction of Required Sidewalk Improvements No . SD - 04 -09 -39 - CFCSIDE ( 2003070038 -
<br /> 46952) , as modified , provided , however, that $ 383 , 906 . 25 cash be posted as substitute security
<br /> with the County on or before December 2 , 2008 to guarantee completion of the required
<br /> sidewalk improvements .
<br /> ASSIGNOR : ASSIGNEE :
<br /> LENNAR HOMES , LC , a Florida MS RIALTO VERONA TRACE FL ,
<br /> limited liabilit corn ` y LLC , a Delaware limited liability
<br /> company
<br /> B�
<br /> Printed name : By : MS Rialto Residential Holdings ,
<br /> Title : G ham Jones LLC , a Delaware limited liability
<br /> Vice President company , its member
<br />
|