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<br /> <br />OF 5Ut-l <br /> <br />FIRST ADDENDUM TO PROMISSORY NOTE BETWEEN MANSIANA <br />OCEAN RESIDENCES~ LLC~ A FLORIDA LIMITED LIABILITY <br />COMP ANY~ AND THE CITY OF SUNNY ISLES BEACH <br /> <br />THIS FIRST ADDENDUM TO THE PROMISSORY NOTE BETWEEN MANSIANA <br />OCEAN RESIDENCES, LLC, A FLORIDA LIMITED LIABILITY COMPANY, (THE <br />"MAKER") AND THE CITY OF SUNNY ISLES BEACH, FLORIDA (THE "CITY"), attached to, <br />and approved by, City Resolution 2007-1158 on September 20,2007. The City and Maker hereby agree <br />as follows: <br /> <br />1. EXTENSION OF TIME The balance of the Promissory Note shall be due and payable by the <br />Maker no later than December 31, 2007. <br />(.,,375% <br />2. INTEREST RATE The Promissory Note shall accrue interest at the rate of 7//5%. This rate <br />shall commence accruing on August 22, 2007. ." <br /> <br /> <br />3. ADDENDUM CONTROLS The provisions of this Addendum shall control over any conflicting <br />provisions of the Promissory Note attached to, and approved by, City Resolution 2007-1158 on <br />September 20, 2007, or any other written document. <br /> <br /> <br />IN WITNESS WHEREOF, the parties hereto have executed this document as of the date <br />mentioned above. <br /> <br />W TNESSES:~ <br />rj <br /> <br />, <br /> <br />. ,/ <br />, /\ <br /> <br />MANSIANA OCEAN RESIDENCES, LLC, A <br />FLORIDA LIMITED LIABILITY COMPANY <br /> <br /> <br />ATTEST <br /> <br /> <br />r-:\;~ ff~.. <br /> <br />Jane Hines, ~.M.C, City .Clerk \ " <br /> <br />, , <br /> <br />APPROVED AS TO FORM AND LEGAL <br />SUFFI N <br /> <br /> <br />(; <br /> <br />C0708-001 NE 159TH STREET & NE 174TH STREET ROADWAY LIGHTING IMPROVEMENTS AGREEMENT <br />