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COPY i <br /> during the last year of the Initial Term, whichever is greater and subject to yearly <br /> CPI increase) or 11% of the adjusted yearly gross sales of the Tenant, whichever <br /> is greater. <br /> Section 2. The President and Secretary of the Board of Port <br /> Commissioners of the City of Redwood City are hereby authorized and directed <br /> to execute the aforesaid Lease Agreement for and on behalf of the City of <br /> Redwood City, acting by and through its Board of Port Commissioners. <br /> Section 3. This ordinance shall be effective 30 days after its adoption but <br /> the provisions of the Lease Agreement shall be retroactive to July 1, 2014. <br /> * * * * * <br /> Ord -Diversified 2 ORD P-261 <br /> 11/20/14 <br /> Scanned <br />