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RESOLUTION NO. 2014.1z2 q <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY <br />OF SUNNY ISLES BEACH, FLORIDA, APPROVING THE <br />SECOND AMENDMENT AND CONSENT TO ASSIGNMENT <br />BETWEEN THE CITY OF SUNNY ISLES BEACH, FLORIDA, 4M <br />INVESTORS LLC, ( "ASSIGNOR "), INTERNATIONAL GENERAL <br />CONTRACTOR INC. ( "FIRST ASSIGNEE ") AND AXIOMA 3 INC. <br />( "ASSIGNEE ") ATTACHED HERETO AS EXHIBIT "A "; <br />AUTHORIZING THE MAYOR TO EXECUTE SAID SECOND <br />AMENDMENT AND CONSENT TO ASSIGNMENT; PROVIDING <br />THE CITY MANAGER AND THE CITY ATTORNEY WITH THE <br />AUTHORITY TO DO ALL THINGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br />WHEREAS, the City of Sunny Isles Beach, Florida (the "City "), and 4M Investors LLC <br />( "Assignor /Contractor ") entered into a Design —Build Agreement dated July 21, 2011 (the <br />"Agreement ") to build the Gateway Park located on Sunny Isles Beach Boulevard; and <br />WHEREAS, the Agreement allows the Parties to assign and/or transfer the Agreement <br />with prior written consent of the City; and <br />WHEREAS, the Agreement also details the insurance the Contractor must secure as a <br />condition to performance under the Agreement; and <br />WHEREAS, Assignor desires to assign and Axioma 3 Inc. ( "Assignee ") desires to assume <br />all of Assignor's rights and obligations for the insurance requirements of the Agreement as of the <br />Effective Date of the original Agreement; and <br />WHEREAS, International General Contractor Inc. ( "ICG ") desires to assign (as first <br />Assignee of the entire Agreement and now Assignor for this assignment) and Axioma 3 Inc. (as the <br />second Assignee) desires to assume all of ICG's rights and obligations for the professional liability <br />(errors and omissions) insurance requirements as of the Effective Date of the original Agreement; <br />and <br />WHEREAS, the City desires to provide its consent to this assignment. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br />Section 1. Approval of the Second Amendment and Consent to Assi ng ment. The Second <br />Amendment and Consent to Assignment between City, Assignor, and Assignee, attached hereto <br />as Exhibit "A ", is hereby approved. <br />Section 2. Authorization of Mayor. The Mayor is hereby authorized to execute said Second <br />Amendment and Consent to Assignment between City, Assignor, and Assignee, in substantially <br />the same form as the attached Exhibit "A ". <br />Page 1 of 2 <br />