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RESOLUTION NO. 2013- 2651 _ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE CITY MANAGER AND THE CITY ATTORNEY TO NEGOTIATE WITHIN FIFTEEN (15) DAYS OF APPROVAL OF THIS RESOLUTION A SEPARATION/SETTLEMENT AGREEMENT TO TERMINATE THE DESIGNBUILD AGREEMENT BETWEEN THE CITY AND 4M INVESTORS, LLC. ("CONTRACTOR") FOR THE GATEWAY PARK, PARKING GARAGE AND PEDESTRIAN BRIDGE (THE "PROJECT"); AUTHORIZING THE CITY MANAGER AND THE CITY ATTORNEY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, by Resolution No. 2011-1735, adopted on July 21. 2011 , the City Commission entered into a Design-Build Agreement (the "Agreement") with 4M Investors. LLC ("Contractor") for certain parcels of real property located in the City which the City owns and upon which it intends to have constructed site improvements consisting of a Park and Parking Garage: and WHEREAS, by Resolution No. 2012-1883. adopted on March 28, 2012. the City entered into a Second Amendment to the Agreement with the Contractor to revise the scope of the project to include additional amenities to the Park and Parking Garage. and to add a Pedestrian Bridge in the amount not to exceed a guaranteed maximum of$16,500.000.00: and WHEREAS, at a special Commission Meeting held on January 30. 2013, the City Commission passed and adopted Resolution No. 2013-2020 which amended the guaranteed maximum price for the Project from $16.5 Million Dollars to an amount not to exceed $20 Million Dollars (inclusive of all payments made to Contractor to Date) to pay for additional costs associated with the proposed redesigned parking garage; and WHEREAS. subsequent to the passage of Resolution No. 2013-2020. the City and Contractor were unable to negotiate a change order and/or amendment to proceed and complete the Project within the allocated $20 Million Dollar budget: and WHEREAS, the City Commission wishes to accept the offer made by the Contractor's counsel to negotiate a separation/settlement agreement for the termination of the Design-Build Agreement. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Authority to Neeotiate. The City Commission hereby authorizes the City Manager and City Attorney to negotiate within fifteen (15) days of approval of this Resolution a separation/settlement agreement to terminate the Design/Build Agreement for Page 1 of 2