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PUBLIC ART DONATION AGREEMENT THIS PUBLIC ART DONATION AGREEMENT (hereinafter referred to as this "Agreement") is made this day of , 2019, by and between the CITY OF SUNNY ISLES BEACH, Florida, (hereinafter referred to as "City"), and PMG-S2 Sunny Isles, LLC, a foreign limited liability company (hereinafter referred to as "Owner"). RECITALS WHEREAS, Owner wishes to donate to the City a customized version of a work of art entitled "Meditation", which is more specifically described in Attachment A and referred to herein as the "Artwork"; WHEREAS, the Artwork is a customized version of a one of a kind sculpture, which has commissioned by Owner and to be prepared by artist, Seo Young-Doek ("Artist"); WHEREAS, Owner wishes to donate the Artwork in satisfaction of the Art in Public Places requirements of Chapter 104 of the City Code (the "Art Requirements") for "Muse" Project at 17141 Collins Avenue, Sunny Isles Beach, Florida (the "Muse Project"); WHEREAS, the Muse Project was approved under Resolution No. 12-Z-132 and No. 14-Z-140 adopted by the City on November 15, 2012 and July 17, 2014 ("Resolution"); WHEREAS, Owner has complied with the review process of the Public Arts Advisory Committee and the Project has complied with the requirements of Chapter 104 of the City Code; WHEREAS, City agrees to accept the donation under the terms and conditions herein and acknowledges and agrees that such acceptance satisfies any and all Art Requirements of Owner with respect to the Muse Project: NOW THEREFORE, in consideration of the promises and the mutual covenants herein named, the parties agree as follows: I. RECITALS. The Recitals set forth above are hereby incorporated into this Agreement and made a part hereof for reference. 2. DONATION AND ACCEPTANCE. Owner hereby conveys by donation the Artwork, together with its legal title, and the City hereby accepts the donation of the Artwork under the terms, qualifications and conditions as set forth in the Agreement. Owner intends by this donation to relinquish all legal claim of right to title to the Artwork. Owner acknowledges that, by the City's acceptance pursuant to this Agreement, the City shall become the sole titleholder to said Artwork. The City acknowledges and agrees that once Owner has satisfied the terms of this Agreement, Owner has satisfied any and all Art Requirements of Owner with respect to the Muse Project. 3. WARRANTY OF TITLE. Owner certifies that the Artwork is a customized version of a work of art created by the Artist. Owner warrants that the Artwork is free of encumbrances and, to Owner's knowledge, it is not subject to any claims of royalties (other than by Artist), or copyright or trademark infringement. 4. DEFECT WARRANTY. Owner warrants that, to Owner's knowledge, the Artwork shall be free of defects in material and workmanship before the Artwork is installed on City property. If any defect is Public Art Donation Agreement 241