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THIRD AMENDMENT TO DESIGN-BUILD AGREEMENT BETWEEN THE CITY OF SUNNY ISLES BEACH AND 4M INVESTORS, LLC THIS THIRD AMENDMENT ("Amendment") is made as of this of 2013 and shall be effective as of the Effective Date (as defined herein) by and among THE CITY OF SUNNY ISLES BEACH, FLORIDA (hereinafter "CITY") and 4M INVESTORS LLC (hereinafter"CONTRACTOR"), hereinafter collectively referred to as Party or Parties. WITNESSETH WHEREAS, the CITY and CONTRACTOR are parties to Design-Build Agreement ("Agreement") executed on July 21, 2011, a full and complete copy of which is attached hereto and incorporated herein as Exhibit "A"; and WHEREAS, Section 2.3 of the Agreement allows the Parties to amend the Contract Documents by written amendment; and WHEREAS_. the CITY and CONTRACTOR desire to execute a written amendment to the Agreement; and NOW, THEREFORE, in consideration of the terms and conditions contained herein and for other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1. The above-referenced recitals are true and correct and are incorporated herein. 2. All other terms of a particular provision in the Agreement not otherwise expressly modified herein shall remain in full force and affect. 3. Project Definition. Sections 1.8, 1.17, and 1.20 of the Agreement are amended to reflect the term "Project" or "Work" includes a (a) 374 space Parking Garage Building with approximately a sixteen thousand (16000) square feet multi-purpose shell on the first floor of the Parking Garage; (b) Park; (c) Performance Stage; and (d) Pedestrian Bridge connecting the north side of the Park to the north side of 826 West (subject to obtaining all necessary approvals set forth in Section 5 below). The Project is generally described in the schematic proposal attached hereto as Exhibit"B" and the Shopping List provided by the City which is attached hereto as Exhibit"C". 4. Revised GMP. This Paragraph amends Sections 1.13, and 5.1, of the Agreement. Except for the construction costs for the Pedestrian Bridge, the revised Guaranteed Maximum Price (`'GMP") for this Project shall be Eighteen Million Eight Hundred Six Thousand Four Hundred Eighty Four Dollars Seventy Cents ($18,806,484.70). This GMP shall include design fees and costs associated with the construction of the following: (a) the 374 space Parking Garage Building with the multi-purpose shell; (b) Park; and (c) Performance Stage. This GMP shall also include design costs for the Pedestrian Bridge. The construction costs of the Pedestrian Bridge shall be governed by Section 6 below. The GMP prior to this Amendment was Sixteen Million Five Hundred Thousand Dollars ($16,500,000.00).