HomeMy WebLinkAbout2007-266 Ashley Lakes North
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SECOND MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO . SD -04-1048-CFC (2004020225-48531 )
THIS SECOND MODIFICATION , made and entered into this 4th day of
September , 2007 , by and between Ashley Lakes North , LLC , a Florida
limited liability company , 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 Improvements No . SD-04- 10-48-CFC (2004020225-48531 )
guaranteeing the completion of certain required improvements on or before
September 13 , 2006 ; and
WHEREAS , at the request of the Developer, the Board of County
Commissioners on September 5 , 2006 modified said Contract for Construction of
Required Improvements to extend the time to perform ; and
WHEREAS , due to the Developer encountering delays caused by various
unforeseen change orders, including multiple problems at the Black Bear
Subdivision entrance and an asphalt leveling course on 45th Street , Ashley Lakes
North , LLC has requested a 6-month extension (to March 13 , 2008 ) to complete
the remaining required improvements ; and
WHEREAS , the Indian River County Code Section 913 . 10 ( 1 )( E) states
that for good cause shown , the Board of County Commissioners may in its
discretion grant one or more extensions of time for performance of any contract
for required improvements , provided the surety supporting such contract remains
valid for the required 90-day period following the newly extended time for
performance ; and
WHEREAS , staff has no objection to extending the date in which to
complete those required improvements to March 13 , 2008 so long as the letter of
credit supporting such contract extension is extended to June 13 , 2008 ,
NOW, THEREFORE , IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES HEREIN CONTAINED , the parties agree as
follows :
1 . The date for completion of the required improvements as outlined in
the Modification to Contract for Construction of Required Improvements No. SD-
04- 10-48-CFC (2004020225-48531 ) is extended to March 13 , 2008 .
2 . The consideration for this extension is that the National City Bank
(formerly known as Harbor Federal Savings Bank) Irrevocable Letter of Credit
No . 449 in the original amount of $3 ,262 ,438 . 69 be amended to extend the
expiration date to June 13 , 2008 , otherwise this modification shall be null and
void .
3 . All other terms set out in the Contract for Construction of Required
Improvements No . SD-04- 10-48-CFC (2004020225-48531 ) , as modified , remain
in full force and effect .
IN WITNESS WHEREOF , the parties hereto have set their hands and
seals on the day and year first above written .
ASHLEY LAKES NORTH , LLC , a
Signed in the presence of: Florida limited liability company
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INDIAN RIVER COUNTY, FLORIDA
by and through its Board of County
Commissioners J'
By: ala z
Gary C ..ICGheeler, Chairman
ATTEST: J . K. Barton , Clerk of Court
BCC approved : 09 / 04 / 07
By : zanl . L
Deputy Clerk
APPROVED AS TO FORM
AND L =DEBRAAL
BYWILLIA .
DEPUTY COUNTY ATTORNEY
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F:Wttorney\Nancy\DOCSIPLAN12d MODIFICATION TO K for cons ashley lakes north.doc