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<br />PORTO BELLAGIO PARTNERS, LLC <br />17100 N. Bay Road, Sunny I~les Beach, FL. 33160 <br /> <br />September 16, 2005 <br /> <br />Jorge Vera, Director of Zoning & Planning <br />City of Sunny Isles Beach <br />18070 Collins Ave <br />Sunny Isles Beach, Fl33160 <br /> <br />Re: Creation of Sub-Account Bank within Porto BeUaeio Tract "D" TDR Bank <br /> <br />Dear Mr. Vera: <br /> <br />In accordance with our approved Resolution the City Commission ofthe City of Sunny <br />Isles Beach created an account in the TDR bank for the benefit of the undersigned owner <br />in the amount of 131, 611 square feet and 72.5 units, Tract "D". (The balance ofthe <br />TDRs from Tract "D" was sent to an account for use by the City.) <br /> <br />This letter is our formal request and authorization of the City to transfer 126, 737 square <br />feet (and 70 units) from the bank of the Tract "D" TDR Bank to Sunny Isles <br />Development Company, LLC, a Florida limited liability company, or its assigns <br />("Transferee") and create a sub-account on its behalf in order to satisfy the approval by <br />the City Commission of June 17, 2004 by Resolution No. 04-Z-8S for Transferee to <br />utilize 126,737 square feet ofTDRs in connection with its condominium project that was <br />comrnonly known as the "SEA." <br /> <br />Porto Bellagio Partners, LLC, a Delaware limited liability company, hereby releases the <br />City including its elected and appointed officials, employees, agents, and consultants, and <br />holds it harmless, from any and aU claims, suits, actions, damages, losses, judgments or <br />causes of action of any nature whatsoever, it may have as a result of the City complying <br />with this request and authorization to withdraw the afore-stated amount and transfer it for <br />the benefit of the Transferee. <br /> <br />Yours truly, <br /> <br />'-'~~ 'l!otfn! <br />~: I;: .' <br />, ~ <br /> <br />Ba' ara Jianco, Owner/Manager <hy , <br />Porto Bellagio Partners,LLC <br /> <br /> <br />Signature of Notary' ublic <br /> <br />,""... Notary Public Slale of Flooda <br />!'..~ ~ Ivette Uzano <br />.. ~; My Commission 00432447 <br />'9,,> Of ,...oq} Expires 08/0612009 <br /> <br />Notary Name Printed Stamp:ci- or Typed <br />Ilersonally KIll>Wll JL., or 'l"~dUCed In...... <br />"l'ype ID produoed II' . <br />I <br />