HomeMy WebLinkAbout2009-006 Isles at Waterway Village PD — Plat 1 C
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MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS
NO . PD -05 - 04 -08 ( C ) - CFC (2004010124 -56284)
THIS MODIFICATION , made and entered into this 6th day of January ,
2009 , by and between DIVOSTA HOMES , L . P . , a Delaware limited
partnership , 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 - 05 - 04 - 08 ( C ) - CFC ( 2004010124 - 56284 )
guaranteeing the completion of certain required iprevernents on or before
October 16 , 2008 and posted a SunTrust Bank Irrevocable Letter of Credit No .
F851084 in the amount of $ 1 , 009 , 718 . 57 as security to guarantee completion ;
and
and WHEREAS , a portion of the required improvements has been completed ;
WHEREAS , the developer has requested ail extension to June 30 , 2009
to complete the remaining required improvements and has presented an
amendment to the existing letter of credit extending the expiration date to
September 30 , 2009 ;
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 - 05 -04 - 08 ( C ) -
CFC ( 2004010124- 56284 ) is extended to June 30 , 2009 ,
2 . The Amendment No . 001 to SunTrust Bank Irrevocable Letter of
Credit No . F851084 extending the expiration date of September 30 , 2009 is
acceptable .
3 . All other terms set out in the Contract for Construction of Required
Improvements No . PD - 05 - 04 - 08 ( C ) - CFC ( 2004010124 -56284 ) 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 .
DIVOSTA HOMES , L . P . , a Delaware
limited partnership
Signed in the presence of :
D ELOPER
Sign :
Print : r By :
Zhistopher M . Ward
Sign : M Attorney- In - Fact
Print : -S "ra L ' ffkt-
INDIAN RIVER COUNTX; . FLORiDA
Bv :
Wesley S . Davis, Chairman
ATTEST : J . K . Barton , Clerk
By : a
Deputy Clerk
APPROVED AS TO FORM
ARID LEGAL SUF 101 CY
13Y
WILLIAM Ca. COLLINS 14
COUNTY ATTORNEY
2
F:\Attorney\Nancy\DOCS\PLAN\waterway 1 c k extension . doc