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<br />Addendum to City of Sunny Isles Beach <br />Parking License Agreement <br /> <br />This Addendum to City of Sunny Isles Beach Parking License Agreement (this <br />"Addendum") is made as of this day of , 2008, by and between the City of <br />Sunny Isles Beach, a municipal corporation (the "City") and Fortune Beach, LLC, a Florida <br />limited liability company ("Fortune"). <br /> <br />RECIT ALS <br /> <br />WHEREAS, on June 9, 2005 the City of Sunny Isles Beach Commission authorized the <br />Mayor to execute a Parking License Agreement with Fortune (the "Agreement") pursuant to <br />Resolution No. 2005-807; and <br /> <br />and <br /> <br />WHEREAS, the Agreement was executed by the City and Fortune on August 3 I, 2005; <br /> <br />WHEREAS, the parties entered into an Amendment to City of Sunny Isles Beach Parking <br />License Agreement on April I 1, 2006 (the "First Amendment"); and <br /> <br />WHEREAS, the Initial Term of the Agreement expired on June 30, 2008; and <br /> <br />WHEREAS, the parties have agreed to a one (1) year extension of the term of the <br />Agreement, which shall commence on July 1, 2008 and expire on June 30, 2009 (the "First <br />Extended Term") pursuant to the terms provided below: <br /> <br />NOW, THEREFORE, in consideration of the execution and delivery of this Addendum <br />and other good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the parties agree as follows: <br /> <br />I. Recitals. The foregoing recitals are true and correct and are incorporated herein <br />in their entirety. <br /> <br />2. Defined Terms. Unless otherwise defined herein, all defined terms shall have the <br />same meaning as ascribed to them in the Agreement. <br /> <br />3. Use of Lehman Parking Lots. The City hereby licenses to Fortune, on a non- <br />exclusive basis, during the First Extended Term, the right to use up to 300 parking spaces at the <br />Lehman Parking Lots. <br /> <br />4. License Fees. Ten (10) days prior to the first day of each month of the First <br />Extended Term, Fortune shall advise the City, in writing, of the number of Lehman Parking <br />Spaces that it shall require for that month. The City shall issue parking passes for the stated <br />number of vehicles and Fortune shall pay the City an amount equal to $45.00 per month per <br /> <br />MIA DOCS 2868884 I <br />6/30/08 <br />