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City of Sunny Isles Beach 18070 Collins Avenue, Suite 250 Sunny Isles Beach, Florida 33160 (305) 947 -0606 City Hall • 4_ (305) 949-3113 Fax tiE °ar_ FtoPSO s,,e (305) 947 -2150 Building Department 305 947 -5107 Fax OF SUN MEMORANDUM TO: The Honorable City Commission FROM: Christopher J. Russo, City Manager Hans Ottinot, City Attorney DATE: April 8, 2013 City Commission Norman S. Edelcup, Mayor Isaac Aelion, Vice Mayor Jeanette Gana. Commissioner Jennifer Levin. Commissioner George "Bud" Scholl. Commissioner Christopher J. Russo City Manager Hans Ottinot, City Attorney Jane A. Hines, CJIC, City Clerk RE: Third Amendment to the Design -Build Agreement between the City of Sunny Isles Beach and 4M Investors, LLC Based on the instructions provided by the City Commission at the commission meeting held on March 21. 2013, the City and 4M Investors; LLC ( "Contractor') were able to finalize the terms and conditions of a Third Amendment to the Design -Build Agreement ( "Amendment'). The Amendment has been executed by Mayor Edelcup and Jose Milton, the principal of the Contractor. The Amendment is subject to the approval of the City Commission. The following are the essential terms of the Third Amendment: (1) A Revised Guaranteed Maximum Price ( "GMP ") of $18.710,186.00 was reduced to $17343.701.30 based on a credit for design services paid previously by the City; (2) The elimination of the Pedestrian Overpass Bridge from the description of the Project; (3) Requiring the Contractor to apply for building permit no later than October 1, 2013, and Final Completion of the Project no later than 365 days from date of issuance of building permit; (4) Requiring payment and performance bonds within 5 days of issuance of building permit; (5) Reducing payment and performance bonds amount to 15% of GMP after final completion; (6) City agreeing to pay costs of continuing bonds at reduced rate for the one year period after final completion. The cost of $24,000.00 is included in the GMP; and (7) Modifying the Site Investigation language in the original Design -Build Agreement to reduce exposure to liability. The above terms are consistent with the directions that we received from the City Commission. It is important to note that we will continue to work to construct the pedestrian bridge to connect the north side of Gateway Park to the north side of 826 West. The Contractor has agreed to provide the City with required information to construct the bridge. Based on the foregoing, we recommend approval of the Third Amendment. Agenda Item 3 P� Date 4-9-13