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SECOND AMENDMENT TO THE DESIGN -BUILD AGREEMENT BETWEEN THE CITY OF SUNNY ISLES BEACH AND 4M INVESTORS LLC This Second Amendment to the Design -Build Agreement for Pa and Parking Garage between � the City of Sunny Isles Beach and 4M Investors, LLC. executed this � day of &I—A .fin , 2012, is made a part of the original Design -Build Agreement for Park and Parking Garage (the "Agreement ") between the parties dated July 21, 2011, between the City of Sunny Isles Beach ( "City ") and 4M Investors, LLC, ( "Contractor ") a Florida Limited Liability-Company. The City and Contractor hereby agree as follows: RECITALS WHEREAS, the City desires to include additional amenities to the project consisting of the total and complete design and construction of a park and a three hundred and eight (308) space parking garage consistent with the structural design and aesthetic standards of the City owned garage located at Heritage Park, associated landscape, irrigation work, underground drainage system, and as generally described in the revised schematic proposal submitted to the City on February 13, 2012; and WHEREAS, these additional amenities to the project will increase the guaranteed maximum price of the project from Ten Million Seven Hundred Thousand Dollars ($10,700,000.00) to Sixteen Million Five Hundred Thousand Dollars ($16,500,000.00). NOW, THEREFORE, the City and Contractor agree to enter into this Second Amendment to the Agreement in accordance with the terms and conditions stated below. I. PROJECT: Section 1.17 of the Agreement is hereby amended to reflect the Project has been redesigned to be consistent with the revised site plan submitted on February 13, 2012. 2. INCREASE IN GUARANTEED MAXIMUM PRICE: Sections 1, 13, 5. 1.1 and 5.1.3 of the Agreement are hereby amended to reflect that Contractor warrants and guarantees that the maximum price for all the Design -Build Work on the Project shall not exceed Sixteen Million Five Hundred Thousand Dollars ($16,500,000.00), subject to tax exemption savings, based on the revised Guaranteed Maximum Price Proposal dated March 20, 2012, attached hereto as Exhibit A ". 3. Contractor agrees to enter into a tax exemption agreemen whereby certain purchases under the Agreement can be i Contractor, at its own expense, agrees to install a wood panel the park design on the south side of the Project or Property. N FENCE. The City and the , attached hereto as Exhibit 'B ", iade through the City. Further, construction fence with a mural of 4. OTHER PROVISIONS REMAIN IN EFFECT: Except as specifically modified herein, all terms and conditions of the original Agreement between the parties, dated July 21, 2011, shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this document as of the date mentioned above. :a