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O R j C IN j Ls TO gL)�D �zl L F <br />C(OP) <br />81 <br />Lost Lake <br />SUBSTITUTE <br />CONTRACT FOR CONSTRUCTION OF <br />-- --- ---- ---- -- REQUrRED SIDEWALK IMPROVEM-ENTS <br />NO. SD=05-08=39-CFCSUBSIDE (2003080256=53385) <br />THIS SUBSTITUTE CONTRACT, made and entered into this <br />day of October 21 , 2008, by and between Hiers Properties, L.L.C., a <br />Florida limited liability company, hereinafter referred to as "Successor <br />Developer", and INDIAN RIVER COUNTY, a political subdivision of the State of <br />Florida, by and through its Board of County Commissioners, hereinafter referred <br />to as "County". <br />WITNESSETH: <br />WHEREAS, Lost Lake, LLC, a Florida limited liability company was <br />the original Developer that commenced proceedings to effect development of <br />land within Indian River County, Florida known as Lost Lake Subdivision; and <br />WHEREAS, a Final Plat for the development within the <br />unincorporated area of Indian River County was approved on July 11, 2006; and <br />WHEREAS, the final plat could not be approved until the Developer <br />had installed the required improvements or had guaranteed to the satisfaction of <br />the County that such improvements would be installed; and <br />WHEREAS, the required sidewalk improvements were to be <br />installed within two years after Final Plat approval, under guarantees posted with <br />the County; and <br />WHEREAS, the Developer entered into a Contract for Construction <br />of Required Sidewalk Improvements agreeing to complete the sidewalks by July <br />11, 2008; and <br />WHEREAS, the Developer defaulted under the terms of the <br />Contract for Construction of Required Sidewalk Improvements and the security <br />guaranteeing the sidewalk construction was called by the County; and <br />F:\Attorney\Nancy\DOCS\PLAN\lost lake substitute side k.doc <br />