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Isles at Waterway Village PD - Plat 1 B C_
MODIFICATION TO
CONTRACT FOR CONSTRUCTION OF REQUIRED SIDEWALK
IMPROVEMENTS
N0. PD=05-04-08(B)SIDE (2004010124-53690)
THIS MODIFICATION, made and entered into this 7th day of October,
2008, 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 Sidewalk Improvements No. PD-05-04-08(13)SIDE (2004010124=53690)
guaranteeing the completion of certain required sidewalk improvements on or
before July 18, 2008 and posted a SunTrust Bank letter of credit as security to
guarantee completion; and
WHEREAS, a portion of sidewalk improvements has been completed; and
WHEREAS, the developer has
(X) requested an additional two-year extension to July 18, 2010 to
complete the remaining required sidewalk improvements;
() requested a substitution of security
() requested a reduction in the amount of security necessary to
complete the remaining sidewalks, and
() provided an updated certified cost estimate attached as Exhibit "A";
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 Contract for Construction of Required Sidewalk Improvements No.
PD-05-04=08(13)SIDE (2004010124=53690) is extended to July 18, 2010.
2' The e' SunTrust Bank Irrevocable Letter of Credit No.
P003437 has, been a t4 44end ®�cpira#lort date to October 18, 2010
cft "' 6300nded date to 00M, late the sidewalks).
I Atl other t"AWout In the COntr*0 f0r Construction of Required
Sidewalk knPrOVOM&M NO MX16m04MOS(B)S1DE (2004010124-53690) remain
IN WiTNERS "*RE*! the Parties hemve ha$et their hands and
els ,W to ftY Ond YW #W SbWe written.
Sighted in the pt` of
ATTEST: J. K Barton, Clerk of Court
DIVOSTA HOMES, Il a Delaware
Itmlted partnership
DEVELOPER
By DIVOSTA HOMES HOLDINGS, LLC,
a Delawaro limited liability
companyt General Partner
Byll
INDIAN RIVER COUNTY, FLORIDA
by and through its Board of County
COmrnlsslonem
Plat appr`4v d �Ju=y 1812000
jig WJLL;�j L� ilk CI
t
_ S
STOO ,
LETTER OF dRtDIT NUMBER P003437
AMENDMENT DATE: SEPTEMBER 24, 2008 ;
APPLICANT:
DIVOSTA HOMES, L.P.
4901 VINELAND ROAD, 500
ORLANDO, FL 32811
BENEFICIARY:
INDIAN RIVER COUNTY
BOARD OF COUNTY COMMISSIONERS
1801,27TH STREET
VERO BEACH, FL 32960
THIS AMENDMENT.IS,TO BE.CONSIDERED AS PART OF THE ABOVE MENTIONED
CREDIT AND.MiT$T BE,ATTAtHED THERETO.
AMENDMENT NO. 001
APPLICANT ADDRESS NOW READS A13 ABOVE*
BENEFICIARY ADDRESS NOW READS AS ABOVE.
EXPIRATION DATE NOW READS OCTOBER 18, 2010:
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
PLEASE DIRECT ALL INQUIRIES TO:
SUNTRUST INTERNATIONAL DIVISION
ATTN: LETTER OF CREDIT DEPARTMENT
25 PARK PLACE, 16TH FLOOR, MC 3707
ATLANTA, GEORGIA 30303
PHONE: 800-9517?847. SELECT OPTION 3, THEN OPTION 1
FAX: 404-566`"81$9
SINCERELY,
SUN ST BANK
�,
AUTARIZED SIGNATURE
105