HomeMy WebLinkAboutReso 54-20 Amendment #5 89-89WRESOLUTION NO. 54-20
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA,
APPROVING AMENDMENT #5 TO THE
NEW MASTER LEASE AGREEMENT
FOR LEASE SITE 89/89W, LOCATED AT 845 EMBARCADERO
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, the City of Morro Bay ("City") is the lessor of certain properties on the Morro Bay
Waterfront described as City Tidelands leases and properties; and
WHEREAS, Boatyard LLC ("Tenant") has been the lessee of Lease Site 89/89W since 2006
and is a tenant in good standing; and
WHEREAS, on October 11, 2016, Tenant and City entered into that certain new master lease
agreement for the Lease Site (the "New Master Lease Agreement') to resolve issues over a failing
portion of the seawall on the Lease Site; and
WHEREAS, the Tenant and City amended the Master Lease by executing Amendment #1,
effective December 12, 2017, (Amendment #1), Amendment #2, effective July 10, 2018, (Amendment
#2), Amendment #3, effective August 29, 2018, (Amendment #3) and Amendment #4, effective
October 24, 2018, (Amendment #4); and
WHEREAS, the Master Lease, Amendment #1, Amendment #2, Amendment #3 and
Amendment #4 are hereafter called the "Amended Master Lease;" and
WHEREAS, Tenant is a partner in Fair Sky Properties, a California general partnership (Fair
Sky Properties), who along with City have entered into that certain lease, as amended, for Lease Site
90/90W; and
WHEREAS, Amendment #5 is being signed on behalf of Fair Sky Properties only for the
purpose of acknowledging the terms of the amended lease for Lease Site 90/90W, including
expressly, the terms regarding rent; and
WHEREAS, the Tenant and City again desire to amend the Amended Master Lease for Lease
Site 89/89W to make certain modifications thereto.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay,
California, as follows:
1. The attached Amendment #5 to the New Master Lease Agreement for Lease Site
89/89W is hereby approved.
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2. The Mayor is hereby authorized to execute said Amendment #5.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular
meeting thereof held on the 23rd day of June, 2020 on the following vote:
AYES. Headding, Addis, Davis, Heller, McPhersorj
NOES None
ABSENT: None
r
John
ATTEST:
Dada Swanson, City Clerk
g, Mayor