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i:f Y Nee rt FIRST AMENDMENT TO THE LICENSE AGREEMENT a' t0*. BETWEEN THE CITY OF SUNNY ISLES BEACH y "fir fit AND CHATEAU BEACH, LLC This First Amendment to the License Agreement (this "Agreement") is made as of this 24 day of ,2015, by and between the CITY OF SUNNY ISLES BEACH, a municipal co oration(the "City") and CHATEAU BEACH, LLC, a Florida limited liability corporation(" ateau Beach"). RECITALS WHEREAS, Chateau Beach is the owner of the property located at 17475 Collins Avenue; and WHEREAS, Chateau Beach obtained zoning approval from the City'to construct a 35 story, 84 unit condominium building(the"Project")on the Property;and WHEREAS, the parties entered into a License Agreement on May 30, 2012, (the "License Agreement") in order to use Samson Oceanfront Park (the "Property") for Project staging purposes,a copy of which is attached hereto as Exhibit"A";and WHEREAS,the License Agreement requires Chateau Beach to restore the Property to its original condition prior to being used for Project staging purposes;and WHEREAS, the City is planning more extensive improvement beyond its original condition of Samson Park, and the City desires that these improvements be constructed along with the entire park rehabilitation project which will be overseen and funded by the City;and WHEREAS, the parties desire to amend the License Agreement to allow Chateau Beach to pay Three Hundred Thousand Dollars ($300,000.00) to the City in lieu of restoring the Property to its original condition prior to being used for Project staging purposes. NOW, THEREFORE, in consideration of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein in their entirety. 2. Amendment to Chateau Beach's obligations to restore the Property. The obligations of Chateau Beach set forth in Sections 5 ("Relocation and installation of playground equipment in Samson Park and Flag Pole") and Section 6 ("Renovation of Samson Park")of the License Agreement are hereby amended to reflect that Chateau Beach is no longer required to complete the obligations set forth therein. As specific consideration for not being required to complete the restoration of Samson Oceanfront Park and the installation of a decorative paver sidewalk in front of the Samson Oceanfront Park Property, Chateau Beach agrees to pay the City Revised—FINAL 1/2/15 S I