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<br />ABUS SUNNY ISLES, LLC <br />1000 E. Hallandale Beach Blvd., Suite B <br />"allandale Beach, FL 33009 <br /> <br />February 9,2011 <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, FL 33160 <br /> <br />Re: Transfer of 40,000 Sq. Ft. ofTDRs from Abus Sunny Isles, LLC, a Florida <br />limited liability company to Chateau Beach, LLC, a Florida limited <br />liability company <br /> <br />Gentlemen: <br /> <br />The undersigned is the Managing Member of Abus Sunny Isles, LLC ("Abus"). <br /> <br />Abus has closed on its sale/transfer of 40,000 square feet of TDRs to Chateau Beach, <br />LLC, a Florida limited liability company. <br /> <br />You are hereby instructed to transfer from the 40,000 square feet ofTDRs which you are <br />holding for the benefit of Abus, the amount of 40,000 square feet of TDRs to Chateau <br />Beach, LLC. <br /> <br />Enclosed is copy of the executed Assignment of Transfer to Development Rights. <br /> <br />If you have any questions, please contact my attorney, Alex D. Sirulnik at 305-443-7211. <br /> <br />Very truly yours, <br /> <br /> <br />By: <br />Manuel Grosskopf, <br />