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SETTLEMENT AGREEMENT <br />This SETTLEMENT AGREEMENT (the "Agreement") is made and entered into this <br />!�Aday of January 2024 (the "Effective Date") by and between PMG-S2 SUNNY ISLES, <br />LLC ("Developer") and the CITY OF SUNNY ISLES BEACH, FLORIDA, a Florida municipal <br />corporation (the "City"). <br />RECITALS <br />WHEREAS, the undersigned Developer is the developer of the property legally described <br />on the attached Exhibit A and located at 17141 Collins Avenue, Miami -Dade County, Florida (the <br />"Property" or "Muse Project"); and <br />WHEREAS, the Muse Project was approved under Resolution No. 12-Z-132 and No. 14- <br />Z-140 adopted by the City on November 15, 2012 and July 17, 2014 ("Project Resolutions"); and <br />WHEREAS, the Project Resolutions and Chapter 104 of the City Code require that <br />Developer satisfy Art in Public Places (the "Art Requirements"); and <br />WHEREAS, Developer complied with the review process of the Public Arts Advisory <br />Committee, and by and through Resolution No. 2019-2945 (the "Art Resolution") obtained <br />approval by the City of Sunny Isles Beach City Commission for a public art donation (the <br />"Artwork") to be located within the City's Art Park as more particularly described in Public Art <br />Donation Agreement (the "Donation Agreement") attached hereto as Exhibit "A"; and <br />WHEREAS, the Donation Agreement called for the parties to mutually agree as to a <br />delivery date for the Artwork; and <br />WHEREAS, the Muse Project is fully constructed and occupied and meets all criteria for <br />issuance of Final Certificate of Occupancy; and <br />WHEREAS, the Artwork approval and a delivery is a condition to issuance of the Final <br />Certificate of Occupancy, however, the City's Art Park is not yet ready to receive delivery of the <br />Artwork donation; and <br />WHEREAS, due to the passage of time, the Artwork commissioned and approved is no <br />longer available; <br />WHEREAS, since the Muse Project is and has been ready for the issuance of a Final <br />Certificate of Occupancy, and in an effort to save future expenses and time, and avoid any potential <br />claims, the City and Developer desire to fully and finally resolve this issue upon the terms and <br />conditions hereinafter set forth, and in accordance with 104-4(C) of the City's Code of Ordinances; <br />Settlement Agreement - PMG-S2 SUNNY ISLES, LLC Page I of 6 <br />