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<br />Amendment to City of Sunny Isles Beach <br />Parking License Agreement <br /> <br />This Amendment to City of Sunny Isles Beach Parking License Agreement (this <br />"Amendment") is made as of this II ~ day of A~ ' 2006, by and between the City of <br />Sunny Isles Beach, a municipal corporation (the "City") and F0I1une Beach, LLC, a Florida <br />limited liability company ("F0I1une"). <br /> <br />RECIT ALS <br /> <br />WHEREAS, on June 9, 2005 the City of Sunny Isles Beach Commission authorized the <br />Mayor to execute a Parking License Agreement with FOJ1une (the "Agreement") pursuant to <br />Resolution No. 2005-807; and <br /> <br />and <br /> <br />WHEREAS, the Agreement was executed by the City and Fortune on August 3 I, 2005; <br /> <br />WHEREAS, Paragraph 3 of the Agreement required that Fortune commence construction <br />of the Improvements, as defined in the A!:"Teement, by June 9, 2006 (the "Construction <br />Commencement Date"), provided that all approvals and pennits authorizing construction of the <br />Improvements had been issued; and <br /> <br />WHEREAS, FOJ1une has advised the City that such approvals and pennits will not be <br />issued by the Construction Commencement Date; and <br /> <br />WHEREAS, the City and Fortune have agreed to enter into this Amendment in order to <br />provide for a new Construction Commencement Date. <br /> <br />NOW, THEREFORE, in consideration of the execution and delivery of this Amendment <br />and other good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the par1ies agree as follows: <br /> <br />I. Recitals. The foregoing recitals are true and cOlTect and are incorporated herein <br />in their entirety. <br /> <br />2. Defined Terms. Unless otherwise defined herein, all defined tenTIS shall have the <br />same meaning as ascribed to them in the Agreement. <br /> <br />3. Construction of Improvements. Paragraph 3 of the Agreement shall be <br />amended to read as follows: <br /> <br />Provided that all approvals and pelmits authorizing the construction of the <br />Improvements have been issued (the "Govemment Approvals"), F0I1une <br />shall commence construction of the Improvements no later than December <br /> <br />p.', & B <br />() l' <br />