HomeMy WebLinkAbout2006-406 Woodfield P.D., Phase 2
aov6 - ��d
MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO. PD-03-04-11 -CFCPH2 (200212006348453)
THIS MODIFICATION , made and entered into this 5th day of December,
2006 , by and between Centex / Lennar at Woodfield, LLC, a Delaware 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 . PD-03-04- 11 -CFCPH2 (2002120063-48453)
guaranteeing the completion of certain required improvements within the plat of
Woodfield P . D . , Phase 2 on or before August 23 , 2006 ; and
WHEREAS , Developer posted a SunTrust Bank Letter of Credit No .
P002528 in the amount of $699 ,438 . 75 and Amendments No . 001 and No . 002 ,
as security for the completion of the required improvements which will expire on
December 8 , 2006 ; and
WHEREAS , Developer has requested an extension to June 5 , 2007 to
complete the required improvements due to various factors adversely effecting
the developer's timetable; and
WHEREAS , staff has no objection to an extension to June 5 , 2007 so long
as the security guaranteeing the completion of required improvements is
amended to extend the expiration date to 90 days beyond the requested
extension date ,
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 Contract for Construction of Required Improvements No . PD-03-04- 11 -
CFCPH2 (2002120063-48453 ) is extended to June 5 , 2007 .
2 . The SunTrust Bank Letter of Credit No . P002528 is to be amended
to extend the expiration date to September 5, 2007 which is 90 days beyond the
newly requested June 5 , 2007 extension date .
3 . No building permits will be issued for Phase 2 until such time as a
Certificate of Completion has been issued for Woodfield P . D . , Phase 2 .
4 . All other terms set out in the Contract for Construction of Required
Improvements No . PD-03-04- 11 -CFCPH2 (2002120063-48453 ) 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 .
CENTEX ! LENNAR AT WOODFIELD,
LLC , a Delaware limited liability
company
Signed in the presence of: By: CENTEX HOMES , a Nevada
partnership, Managing Member
Sign ,
Print : die Sdo®,9 By: CENTEX REAL ESTATE
CORPORATION , a Neva_ da
corporation Managing
tr 1 Partn
Sign :
Print :
CSivision President
AND
By: LENNAR HOMES,I . , a Florida %MlrEb2i" `
na in Membe Cdi
g g A bE ,WAi2 IlWe
S ' n : � iNC�� A �tae�t
P �, 7Yjmte
z �n:
Sign : v✓ ' (President or Vice President)
Print:
INDIAN RIVER COUNTY, FLORIDA
by and through its Board of County
Commissioners
By : /Jcu. v Cf,
ATTEST : J . K. Barton , Clerk of Court Gary Cowheeler, Chairman
By: %t:Q-" -� BCC approved : December 5 , 2006
Deputy Clerk
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY
my
F:WttorneylNancy\DOCS\PLAN\MODIFICATI ON k for woodfi Id 2.doc WILLICOLLINS
COUNTY ATTORNEY