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<br />CITY OF SUNNY ISLES BEACH <br />PARKING LICENSE AGREEMENT <br /> <br />This Parking License Agreement ( this "Agreement") is made as of the'3t.{-day oL4v7vsr <br />2005, by and between the CITY OF SUNNY ISLES BEACH, a municipal corporation ("City") <br />and FORTUNE BEACH, LLC, a Florida limited liability company ("Fortune") and/or assigns. <br /> <br />RECIT ALS <br /> <br />WHEREAS, the City has previously entered into a lease agreement ("Loop FDOT Lease") <br />with the Florida Department of Transportation ("FDOT") for the use of the parking lots and <br />surrounding property known as the "Inner Loop" under the Sunny Isles Bridge and SR 826, as <br />more particularly described in Exhibit "A" attached hereto and incorporated herein by reference <br />(collectively, the "Loop Parking Lots"); and <br /> <br />WHEREAS, the City has been given permission by FDOT to collect a daily fee from the <br />general public for the use of the Loop Parking Lots; and <br /> <br />WHEREAS, Fortune has approached the City about using the Loop Parking Lots for the <br />parking of automobiles, trucks and construction equipment owned by employees of construction <br />companies that are working on Fortune's condominium projects in an effort to relieve <br />construction related congestion on Collins A venue; and <br /> <br />WHEREAS, the City desires to enter into an exclusive parking license agreement with <br />Fortune for the use of the Loop Parking Lots; and <br /> <br />WHEREAS, the City has previously entered into an additional lease agreement (the <br />"Lehman FDOT Lease") with the FDOT which expires on February 16, 2010 for the use of the <br />parking lots and surrounding property under the William Lehman Causeway, as more <br />particularly described in Exhibit "B" attached hereto and incorporated herein by reference <br />(collectively, the Lehman Parking Lots"); and <br /> <br />WHEREAS, the City has been given permission by FDOT to collect a daily fee from the <br />general public for the use of the Lehman Parking Lots; and <br /> <br />WHEREAS, on December 4, 2003 the City entered into a Non-Exclusive Parking License <br />Agreement with Tangiers Beach Associates, an affiliate of Fortune, to lease certain parking <br />spaces in the Lehman Parking Lots, which agreement terminated on December 1, 2004; and <br /> <br />WHEREAS, Fortune desires to continue using certain parking spaces in the Lehman <br />Parking Lots for the parking of automobiles, trucks and construction equipment owned by <br />employees of construction companies that are working on Fortune's condominium project in an <br />effort to relieve construction related congestion on Collins Avenue; and <br /> <br />WHEREAS, the City desires to enter into a non-exclusive parking license agreement with <br />Fortune for the use of certain parking spaces in the Lehman Parking Lots; and <br /> <br />MIADOCS 781212 6 <br />