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: *e7 <br /> ,0q o F� <br /> THIRD MODIFICATION TO <br /> CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS <br /> NO . SD -00 -06 -07 -CFC (93050013 -26511 ) <br /> 00 <br /> HIS THIRD MODIFICATION made and entered into this da of <br /> 7 , Y <br /> - , 2004 , by and between Chase Meadows , L . L . C . , a Florida <br /> 11irAited liability company, 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 , on May . 15 , 2001 Developer entered into a Contract for <br /> Construction of Required Improvements No . SD-00-06-07 -CFC (93050013 - <br /> 26511 ) guaranteeing the completion of certain required improvements on or <br /> before May 8 , 2002 within the Chase Meadows Subdivision ; and <br /> WHEREAS , on April 2 , 2002 the Board of County Commissioners <br /> approved a Modification to Contract for Construction of Required Improvements <br /> No . SD -00-06- 07- CFC (93050013-26511 ) extending the time for completion of <br /> the internal sidewalks , the only remaining improvement yet to be constructed , to <br /> May 14 , 2003 ; and <br /> WHEREAS , on August 5 , 2003 the Board of County Commissioners <br /> approved a Second Modition to Contract for Construction of Required <br /> Improvements No . SD-00-06-07 -CFC (93050013-26511 ) extending the time for <br /> completion of the internal sidewalks to May 14 , 2004 ; and <br /> WHEREAS all internal sidewalk segments are complete with the <br /> exception of a segment across Lot 42 , and Developer wishes to extend the <br /> completion date to May 14 , 2005 , and has substituted cash in the amount of <br /> $ 687 . 70 which represents the required amount for the remaining sidewalk <br /> segment and executed a Cash Deposit and Escrow Agreement ; and <br /> WHEREAS , the Indian River County Code allows the developer to delay <br /> construction of required sidewalk improvements along local roadways for a <br /> period of two years beyond the final plat approval date , with the ability to further <br /> extend the contract for construction and posted security beyond the initial 2 -year <br /> period at a rate of two years for every eight project lots which received final plat <br /> approval upon approval of both the Public Works Director and the Community <br /> Development Director. However at no time may a contract for construction be <br /> extended beyond ten years following final plat approval ; and <br /> NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL <br /> COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as <br /> follows : <br /> 1 <br /> F:\Attorney\Nancy\DOCS\PLAN\modification 3rd to k chase meadows.doc <br />