HomeMy WebLinkAboutReso 06-15RESOLUTION NO.06-15
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
CONSENTING TO THE ENCUMBRANCE, WITH A DEED OF TRUST, OF THE
LEASE AGREEMENT FOR LEASE SITE 144/144W LOCATED AT 1287
EMBARCADERO BETWEEN THE CITY OF MORRO BAY AND MORRO BAY
OYSTER COMPANY, LLC, AS ASSIGNEE.
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, the City of Morro Bay ("City") is the lessor of property known as
Lease Site 144/144W located at 1287 Embarcadero; and
WHEREAS, through an assignment and assumption agreement approved by
City's City Council, Morro Bay Oyster Company, LLC is the current lessee of Lease Site
144/144W (the "Lease"); and
WHEREAS, Morro Bay Oyster Company, LLC is financing the acquisition of
the Lease and the resources necessary for capital for improvements and repairs required
as part of the Lease (the "Financing"); and
WHEREAS, Morro Bay Oyster Company, LLC's lender, Charles and Sandra
Marciel, is requesting approval of a Deed of Trust to secure the Financing; and
WHEREAS, the City Attorney has reviewed and approved the attached deed of
trust.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Morro Bay, California, that the attached Deed of Trust for Lease Site 144/144W is hereby
approved and the Mayor is hereby authorized to execute the deed of trust, as necessary.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a
regular meeting thereof held on the 27th day of January, 2015 on the following vote:
AYES: Irons, Headding, Johnson, Makowetski, Smukler
NOES: None
ABSENT: None
T
J e L. Irons, Mayor
ATTEST:
Lo
ana Swanson, City Clerk
ESTOPPEL CERTIFICATE - LANDLORD
This ESTOPPEL CERTIFICATE ("Certificate") dated as of January 13, 2015,
executed by the CITY OF MORRO BAY, a municipal corporation ("Landlord") in favor of
MORRO BAY OYSTER COMPANY, LLC, a California limited liability company
("Assignee")
RECITALS
A. CHARLES AND SANDRA MARCIEL dba M&M Refrigeration ("Tenant")
and Assignee have entered into a Leasehold Purchase Agreement ("Agreement"), in which
Tenant has agreed to assign and Assignee has agreed to assume all of Tenant's interest and
obligations under that certain lease that commenced on July 1, 2012, between Tenant and
Landlord (the "Lease") covering Lease Site 144/144W as delineated on Parcel Map of the
City of Morro Bay, No. 68-30, which map was recorded on October 10, 1968, in Book 3,
Page 10 of Parcel Maps in the Office of the County Recorder, San Luis Obispo County,
California (the "Leased Premises") attached to this Certificate, and incorporated by reference
as Exhibit A.
B. In connection with the Agreement, Tenant has requested that Landlord
execute this Certificate.
C. Landlord makes this Certification with the knowledge it will be relied on by
Assignee in assuming Tenant's obligations under the Lease.
NOW THEREFORE, Landlord certifies to Assignee as follows:
Section 1. Tenant: As of the date of this Certification, Tenant is the tenant of the Leased
Premises under the Lease.
Section 2. Leased Premises: The Leased Premises consists of the real property depicted on
the Map attached hereto as Exhibit B and incorporated herein by reference.
Section 3. Full Force of Lease: As of the date of this Certificate, the Lease is in full force,
has not been terminated, and is enforceable in accordance with its terms.
Section 4. Complete Agreement: The Lease constitutes the complete agreement between
Landlord and Tenant for the Leased Premises, and no amendments to the Lease, either
01181.0024/239904.1 1
written or oral, currently exist.
Section 5. Lease Term: The term of the Lease commenced on July 1, 2012, and ends on
June 30, 2025, subject to an option to extend, as set forth in Section 13.02 of the Lease and
termination provisions.
Section 6. Rent: The minimum rent currently payable under the Lease is $7239.39 per year,
subject to the adjustments set forth in Section 2.02 (Adjustment to Annual Minimum Rent),
Section 2.03 (Calculation of New Minimum Rent) and Section 2.04 (Percentage Rent) of the
Lease.
Section 7. No Defaults: As of the date of this Certificate, there exist no defaults under the
Lease by Tenant, and no event which with the passage of time or the giving of notice or both
would constitute a default under the Lease by Tenant.
Section 8. Notice by Landlord: From the date of this Certificate and until Assignee
becomes Tenant under the Lease, Landlord agrees to notify Assignee immediately at the
following addresses, on the occurrence of any default under the Lease by Tenant or on the
occurrence of any event which with the passage of time or the giving of notice or both would
constitute a default under the Lease by Tenant: Neal Maloney, Morro Bay Oyster Company,
LLC, 3936 Rockview Place, San Luis Obispo, CA 93401, email: nhm6p.yaboo.com, and
Dwight Maloney, 15 Dunnsmoor Court, Danville, CA 94526, email: dkmalo pacbell.net.
Once Assignee becomes Tenant, then notice of the occurrence of any default under the Lease
shall be made pursuant to the Lease.
In WITNESS WHEREOF, Landlord has executed this Certificate as of the date first
written above.
LANDLORD:
CITY OF MORRO BAY, a municipal
corpor4*d
By:
Name:uckingham
Its: City Manager
01181.0024/239904.1 2