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<br />BOOK 23691 PAGE 1069
<br />LAST PAGE
<br />
<br />June 8, 2005
<br />
<br />Hand Deliverv & PDF
<br />
<br />Mr. Jorge Vera
<br />Zoning Administrator
<br />City of Sunny Isles Beach
<br />18070 Collins Avenue, 4th Floor
<br />Sunny Isles Beach, Florida 33160
<br />
<br />Re: Ownership of Transferable Development Rights in the Casino Property
<br />
<br />Dear Mr. Vera:
<br />
<br />Per the request of the City Attorney's Office, this letter confirms that The Related Group ("Related"),
<br />by and through its affiliate entities, Trelcom Development, Ltd. and Trelcom Sunny Isles, Inc., consents to
<br />and authorizes the City to apply its interest in the Casino TOR Bank established by City of Sunny Isles Beach
<br />Resolution No. 2004-681, adopted June 3, 2004, (the "CASINO TDR BANK") to TRG Sunny Isles V, Ltd., a
<br />Florida Limited Partnership TRG Sunny Isles VI, Ltd., a Florida Limited Partnership, and TRG Sunny Isles
<br />VII, Ltd., a Florida Limited Partnership (collectively, the "TRG Receivers"), for the development of a
<br />Receiving Site at 15811 through 16001 CoJljns A venue, Sunny Isles Beach, FL, to be known as TRUMP
<br />TOWERS I, II, and III. Please be advised that Related currently owns TOR's in the Casino Property
<br />comprising 82,792 square feet of development and 20 residential units.
<br />
<br />Related hereby releases the City of Sunny Isles Beach ("CITY"), including its elected and appointed
<br />officials, employees, agents and consultants from any and all claims, suits, actions, damages, losses,
<br />judgments or causes of action of whatever nature which the Owner may have arising out of the approval by
<br />the CITY of the requested transfer of development rights pursuant to Zoning Application No. Z 2004-08
<br />submitted on October 6, 2004, as amended by the Fourth Amended Application Letter dated May 20,2005, by
<br />TRG Sunny Isles, Ltd. ( TRUMP TOWERS I, II, III). Owner hereby agrees to indemnify and hold harmless
<br />the CITY, including its elected and appointed officials, employees, agents and consultants from any and all
<br />claims, suits, actions, damages, losses, judgments or causes of action stemming from a dispute over the
<br />assertion of Owner of the interests set forth in the preceding paragraph above, and the transfer thereof to the
<br />TRG Receivers in the amount stated
<br />
<br />The undersigned is authorized to sign this letter on behalf of Related.
<br />
<br />Sincerely,
<br />
<br />By 9xtk ~~~
<br />(~ ~.jL~~(~C
<br />
<br />cc: Mr. Tom Daly
<br />Mr. Peter Weiner
<br />Mr. Jonathan Veniar
<br />Joseph G. Goldstein, Esq.
<br />
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