HomeMy WebLinkAbout2010-235 Lost Latin Subdli<ision
IF F I
ATRUECOPY 4 f 0 " a35
CERTIFICATION ON LAST PAGE
J . K . BARTON , CLERK
MODIFICATION TO
SUBSTITUTE CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK
IMPROVEMENTS
NO . SD -05 -08 -39 -CFCSUBSIDE ( 2003080256 -53385 )
THIS MODIFICATION , made and entered into this 5th day of
October , 20107 by and between HIERS PROPERTIES , L . L . C . , a Florida
limited liability company , hereinafter referred to as " Successor 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 , Successor Developer entered into a Substitute Contract for
Construction of Required Sidewalk Improvements No . SD - 05 - 08 - 39 -
CFCSUBSIDE ( 2003080256 - 53385 ) guaranteeing the completion of certain
required sidewalk improvements on or before July 11 , 2010 and posted Marine
Bank & Trust Company Irrevocable Letter of Credit No . 2008 - 39 in the amount of
$ 26 , 647 . 50 , expiring on October 11 , 2010 , as security to guarantee completion ;
and
WHEREAS , the Successor Developer has requested a two -year extension
to July 11 , 2012 to complete the remaining required sidewalk improvements ; and
WHEREAS , the Successor Developer has presented Marine Bank & Trust
Company Irrevocable Letter of Credit No . 2010 -46 , renewing Irrevocable Letter
of Credit No . 2008 - 39 , extending the expiration date to October 11 , 2012 ;
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 sidewalk improvements as
outlined in the Modification to Substitute Contract for Construction of Required
Sidewalk Improvements No . PD - 05- 08 - 39 - CFCSUBSIDE ( 2003080256 - 53385 ) is
extended to July 11 , 2012 .
2 . The Marine Bank & Trust Company Irrevocable Letter of Credit No .
2010 -46 , renewing Irrevocable Letter of Credit No . 2008 - 39 to extend the
expiration date to October 11 , 2012 is acceptable .
3 . All other terms set out in the Substitute Contract for Construction of
Required Sidewalk Improvements No . SD - 05 - 08 - 39 - CFCSUBSIDE
( 2003080256 - 53385 ) 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 .
HIERS PROPERTIES , L . L . C . , a Florida
limited liability company
SUCCESSOR DEVELOPER
� I .
Bobby J /Hidrs , Managing Member
INDIAN RIVER COUNTY , FLORIDA
G4 tS8l46
by and through its Board of County
Commissioners
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ATTEST : J . K . Barton , rk
By
Deputy Clerk
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