HomeMy WebLinkAboutReso 76-20 91-92 91-92 assignment and DOTRESOLUTION NO. 76-20
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA
ASSIGNING LEASE SITE 91-92/91W-92W TO OCEANIC HARBOR LP AND
CONDITIONALLY AUTHORIZING THE MAYOR TO EXECUTE DOCUMENTS
NECESSARY FOR THE ASIGNEMENT AND ASSUMPTION, AND ACCEPTING NEW
DEEDS OF TRUST FOR FINANCING ON THE PROPERTY RELATED THERETO
AT LEASE SITE 91-92/91W-92W,
LOCATED AT 897 EMBARCADERO ROAD, MORRO BAY
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, for nearly 50 years, the Anderson Family and the Anderson Family
Partnership have been the lessees of Lease Site 91-92/91W-92W, located at 897
Embarcadero Road; and
WHEREAS, the Anderson Family Partnership is selling the leasehold interest
and improvements to Oceanic Harbor LP; and
WHEREAS, Anderson Family Partnership and Oceanic Enterprises have
satisfactorily submitted the necessary documents for the assignment and assumption,
and the Anderson Family Partnership is a tenant in excellent standing: and
WHEREAS, Oceanic Harbor LP is financing the purchase of the leasehold and
improvements .with a loan from Pacific Premier Bank, as well as a loan from the
Anderson's for part of the purchase price, using the lease agreement and improvements
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 and assumption of the
leasehold interest to Oceanic Harbor LP, provided all standard
stipulations for assignment are met per the City s assignment
application form.
2. The Mayor is hereby authorized to execute said assignment and
assumption, 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 lending deeds of trust desired by Oceanic Harbor
LP.
PASSED AND ADOPTED by the City Council of the City of Morro Bay at a
regular meeting thereof held on the llth day of August, 2020 on the following vote:
AYES- Headding, Addis, Davis, Heller
NOES- None
ABSENT: McPherson
ABSTAIN: None
DDING, Mayor
ATTEST:
OAAelk gAterLer`
DANA SWANSON, City Clerk