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<br />CERTIFICATE OF CITY <br /> <br />The undersigned, the Mayor of the CITY OF SUNNY ISLES BEACH, FLORIDA (the <br />"City"), does hereby certify, to the best of his knowledge, that (all capitalized terms not otherwise <br />defined herein shall have the meaning ascribed thereto in the hereinafter defined Loan Agreement): <br /> <br />1. No litigation is pending, or to the best of our knowledge, threatened: <br /> <br />(a) to restrain or enjoin the issuance or delivery of the City's $20,000,000 <br />Promissory Note dated June 8, 2009 (the "Note"), in favor of Bank of America, N.A. (the <br />"Bank") or the execution and delivery of the Loan Agreement dated as of June 8, 2009, <br />relating to the Note between the Bank and the City (the "Loan Agreement"); <br /> <br />(b) in any way contesting or affecting any authority for the execution and validity <br />of the Note or the Loan Agreement or of Ordinance No. 2009-323 (the "Ordinance'')' <br />authorizing the issuance of the Note and the execution ofthe Loan Agreement enacted by the <br />City Commission of the City on June 5, 2009; <br /> <br />(c) in any way contesting the existence or powers of the City; or <br /> <br />(d) to restrain or enjoin the collection of Non-Ad Valorem Revenues of the City. <br /> <br />2. As of the date hereof, no Event of Default as defined in the Loan Agreement has <br />occurred and is continuing. <br /> <br />3. I am the duly elected and qualified Mayor of the City. Jane A. Hines is the duly <br />appointed and qualified City Clerk of the City. I am duly authorized to execute and deliver the <br />Note and the Loan Agreement on behalf of the City. <br /> <br />4. The following persons constitute the duly qualified, elected or appointed members <br />of the City Commission of the City for the periods indicated below: <br />