Intermittent Ticking Sound Coming from ABS Modulator

I am hearing an intermittent ticking sound (machine-gun-fire speed....kind of sounds like a quick woodpecker) coming from the ABS Brakes modulator on the passenger side next to the fire wall. I have an audio recording of the sound and can send it to you to verify. Is this a bad modulator or would I be able to replace the RELAY for the modulator. Another symptom is that all of the dash lights come on (ABS, VCD, TCS) when this problem occurs. Every other time I start the car, the lights go away and the ticking stops. Thoughts? I have attached an image of where the sound is coming from. I have an audio recording of the sound to send you if you can provide an email address?