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City Commission <br />La oSvechin <br />Mayor <br />E. The sand placement should be. completed as soon as practicable, however, to ensure <br />r <br />Jerry Joseph the completion of the sand placement, La Playa, including its successors and assigns, <br />Vice Mayor shall be bound by the following: <br />Alex Lama <br />Commissioner 1. If all applicable permits for the sand placement have not been applied for at the time <br />Fabiola Stuyvesant a Temporary Certificate of Occupancy ("TCO") for Phase II of the Project is <br />Commissioner <br />Jeniffer Viscarra requested from the City, La Playa will deposit 100% of the estimated cost of the <br />Commissioner sand placement into escrow, in trust for the City and La Playa, to be held and <br />distributed by the escrow agent selected by mutual agreement between La Playa and <br />City, in accordance with the terms of this Agreement and an Escrow Agreement to <br />Stan Morris be entered into and executed by La Playa and the City; or <br />City Manager <br />Mauricio Betancur 2. If all applicable permits for the sand placement have been applied for, but not yet <br />City Clerk, CMC issued, at the time a TCO for Phase II of the Project is requested from the City, La <br />Playa will deposit 50% of the estimated cost of the sand placement into escrow, in <br />trust for the City and La Playa, to be held and distributed by the escrow agent <br />selected by mutual agreement between La Playa and City, in accordance with the <br />terms of this Agreement and an Escrow Agreement to be entered into and executed <br />by La Playa and the City; or <br />3. If all applicable permits for the sand placement have been approved and issued at <br />the time a TCO for Phase II of the Project is requested from the City, La Playa will <br />deposit 25% of the estimated cost of the sand placement into escrow, in trust for the <br />City and La Playa, to be held and distributed by the escrow agent selected by mutual <br />agreement between La Playa and City, in accordance with the terms of this <br />Agreement and an Escrow Agreement to be entered into and executed by La Playa <br />and the City; and <br />4. The estimated cost of the sand placement shall be agreed upon by both La Playa and <br />the City. In the event La Playa and the City cannot agree upon an estimated cost, the <br />City's estimated cost shall prevail; and <br />5. The escrow amount held pursuant to this Agreement and any ensuing escrow <br />agreement shall be held as a trust fund and shall not be subject to any lien, <br />attachment, trustee process or any other judicial process of any creditor of any party <br />hereto. <br />If the terms and conditions set forth above are satisfactory, please execute and date <br />this letter in the space provided below and return it to me on or before 12:00 pm on <br />Thursday, September 21, 2023. <br />Letter Agreement for Sand Placement <br />September 20, 2023 <br />Page 2 of 3 <br />CITY OF SUNNY ISLES BEACH GOVERNMENT CENTER • 18070 COLLINS AVENUE- SUNNY ISLES BEACH, FL 33160 o SIBFL.NET <br />