Since the launch of NASA's Solar Dynamics Observatory on 2010 February 11, the Extreme ultraviolet Variability Experiment (EVE) has observed numerous flares. One interesting feature observed by EVE is that a subset of flares exhibit an additional enhancement of the 2-3 million K emission several hours after the flare's soft X-ray emission. From the Atmospheric Imaging Assembly (AIA) images, we observe that this secondary emission, dubbed the EUV late phase, occurs in the same active region as the flare but not in the same coronal loops. Here, we examine the C8.8 flare that occurred on 2010 May 5 as a case study of EUV late phase flares. In addition to presenting detailed observations from both AIA and EVE, we develop a physical model of this flare and test it using the Enthalpy Based Thermal Evolution of Loops (EBTEL) model.