LETTER REGARDING CHANGE OF OWNERSHIP
RECEIVED
FEB 2 8 2005
f;/TY ATTORNEY
February 25,2005
William Home, Manager
Pamela K. Akin, City Attorney
City of Clearwater
112 S. Osceola Avenue
Clearwater, FL 33756
RE: Hyatt Clearwater Beach
Dear Bill and Pam:
As you know, Crystal Beach Capital, LLC (an affiliate ofNJR Development
Company, LLC) acquired the site of the proposed Hyatt Clearwater Beach Condominium
Resort & Spa on February 11,2005. Concurrently, Beachwalk Resort LLC assigned its
rights and obligations under the Second Amended and restated Development Agreement
to Crystal Beach Capital, LLC.
In accordance with Article 18.03 of the Second Amended and Restated
Development Agreement, I am writing to give notice that Notices to the Developer
should no longer be sent to Beachwalk Resort, LLC or Ruden, McClosky.
All future Notices should be sent to:
Crystal Beach Capital, LLC
c/o NJR Development Company, LLC
101 E. Kennedy Boulevard
Suite 2125
Tampa, Florida 33602
Attn: Neil J. Rauenhorst
With a copy to:
Foley & Lardner
100 North Tampa Street
Suite 2700
Tampa, Florida 33602
Attn: Stephen J. Szabo, III Esquire
101 E. Kennedy Blvd., Suite 2125 · Tampa, Florida 33602 · (813) 226-9897 . Fax (813) 226-8747
William Home
Pamela K. Akin
February 25, 2005
Page 2
Thank you.
Sincerely,
Crystal Beach Capital, LLC
Jmw
c: Stephen J. Szabo, III
III