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<br /> <br />City Commission <br /> <br />Norman S. Edelcup <br />Mayor <br /> <br />Lewis J. Thaler <br />Vice Mayor <br /> <br />Roslyn Brezin <br />Commissioner <br /> <br />Gerry Goodman <br />Commissioner <br /> <br />Danny Iglesias <br />Commissioner <br /> <br />A. John Szerlag <br />City Manager <br /> <br />Hans Ottinot <br />City Attorney <br /> <br />Jane A. Hines <br />City Clerk <br /> <br />August 22, 2007 <br /> <br />Mr. Daniel Tantleff <br />Portfolio Director <br />Solis Resort, Spa & Residences <br />15701 Collins Avenue <br />Sunny Isles Beach, FL 33160 <br /> <br />Re: Solis Resort, Spa & Residences <br /> <br />Dear Mr. Tantleff: <br /> <br />This is to acknowledge receipt of the attached letter regarding payments of required building fees <br />related to the above-referenced development project. <br /> <br />In the attached letter, you agreed to pay all associated fees required to pull a building/foundation <br />permit with the exception of full payment for transfer of development rights (TDRs) that were <br />approved pursuant to Resolution No. 05-Z-98, adopted on November, 17,2005. With respect to the <br />TDRs payments, you have agreed to pay fifty (50%) of the remaining balance minus the ten percent <br />(10%) deposit. This amount is $4,460.416.80, Thus, you have agreed to pay approximately $2.3 <br />million dollars at the time of issuance of the building permit. You have also agreed to pay the <br />remaining fifty percent (50%) within sixty (60) days of tile issuance of the aforementioned permit. <br />You have agreed to pay five percent (5%) interest on the remaining balance. The interest payment is <br />due at the time of full payment. Notwithstanding the foregoing, if full payment is received within <br />five (5) days, no prepayment penalties will be added. <br /> <br />Please note that this agreement is subject to the approval of the City Commission at the next regular <br />commission meeting. Also, please note that the City reserve the right to revoke any permit issued if <br />full payment for the TDRs is not received within the specified time-frame, <br /> <br />If you are in agreement with this letter, please acknowledge your agreement by signing below, <br /> <br />Thank you for cooperation in this matter. <br /> <br /> <br />/ Attachment. <br /> <br />Read and Accepted: <br /> <br /> <br />~;~ff'~' <br />