HomeMy WebLinkAboutReso 03-25 Approving Lease Site 53-56 assignment and DOTRESOLUTION NO. 03-25
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
ASSIGNING LEASE SITE 53-56/53W-56W TO RUSSEL CURTIS, DON NELSON,
DANIEL MCCALL, AND JUSTIN LARIBEE (LLC PENDING) AND CONDITIONALLY
AUTHORIZING THE MAYOR TO EXECUTE DOCUMENTS NECESSARY FOR A NEW
LOAN FOR THE LEASE AGREEMENT AT LEASE SITE 53-56153W-56W WITH
RUSSEL CURTIS, DON NELSON, DANIEL MCCALL, AND JUSTIN LARIBEE
LOCATED AT 501 EMBARCADERO ROAD, MORRO BAY AND ACCEPTING A
DEED OF TRUST RELATED THERETO
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, the City of Morro Bay is the lessor of certain properties on the Morro
Bay Waterfront described as City Tidelands leases and properties; and
WHEREAS, since 2008, Chris and Cynthia Kostecka, Estero Inn, LLC has been
the lessee of Lease Site 53-56/53W-56W, located at 501 Embarcadero; and
WHEREAS, Estero Inn, LLC is selling the leasehold interest and improvements
to Russel Curtis, Don Nelson, Daniel McCall, and Justin Laribee, members of a to be
formed LLC; and
WHEREAS, the applicant has satisfactorily submitted the necessary documents
for Assignment and is a tenant in good standing: and
WHEREAS, the applicant's lender, Bank of the Sierra against, is requesting
approval of a deed of trust to secure the Financing using the lease as security; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro
Bay, California, as follows:
1. The City Council approves Assignment of the leasehold interest to
Russel Curtis, Don Nelson, Daniel McCall, and Justin Laribee (LLC
Pending).
2. The Mayor is hereby authorized to execute said assignment, as
approved by the City Attorney.
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3. The Mayor is hereby directed to execute, as necessary, any and all
documents, as approved by the City Attorney, necessary to
consummate the deed of trust desired by Russel Curtis, Don Nelson,
Daniel McCall, and Justin Laribee (LLC Pending).
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a
regular meeting thereof held on the 14th day of January 2025 on the following vote:
AYES: Wixom, Eckles, Edwards, Landrum, Luffee
NOES: None
ABSENT: None
ABSTAIN: None
RECUSE: None
Ca a Wixom, Mayor
ATTEST:
ana Swanson, City Clerk