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<br />DES:dft 7/5/91 <br /> <br />(003/30) <br /> <br />"." <br /> <br />" <br /> <br />.,. <br />, <br /> <br /> <br />"":" <br /> <br />0 RIG I N A L <br /> <br />7/22/91 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />11570 <br /> <br />---------- <br /> <br />RESOLUTION CONSENTING TO ASSIGNMENT OF LEASE AGREEMENT, <br />ACKNOWLEDGING EXERCISE OF OPTION TO RENEW AND EXTEND <br />TERM OF LEASE AND ESTABLISHING RENTAL FOR RENEWAL TERM <br /> <br />(COMMUNICATIONS SITE LEASE) <br /> <br />WHEREAS, <br /> <br />pursuant <br /> <br />to <br /> <br />Resolution <br /> <br />No. <br /> <br />10076 <br /> <br />adopted <br /> <br />November 18, <br /> <br />1985, by this Council, this City and Gencom, Inc., <br /> <br />entered <br /> <br />into <br /> <br />that <br /> <br />certain <br /> <br />lease <br /> <br />agreement <br /> <br />entitled <br /> <br />"Lease <br /> <br />Agreement-Communications <br /> <br />Site" <br /> <br />dated <br /> <br />November 25, <br /> <br />1985, <br /> <br />(the <br /> <br />"Lease Agreementll); and <br /> <br />WHEREAS, <br /> <br />subsequent to entering into the Lease Agreement, <br /> <br />Gencom, Inc. assigned or otherwise transferred its interests in <br /> <br />and tofhe lease agreement to Pac Tel Paging of California (IIPac <br /> <br />Telll); and <br /> <br />WHÈREAS, pursuant to paragraph l(b) of the Lease Agreement, <br /> <br />Pac Tel has exercised the option therein described to renew and <br /> <br />extend the Lease Agreement for an additional five (5) year term <br /> <br />commencing on November 1, 1990; and <br /> <br />WHEREAS, pursuant to paragraph 2(b) of the Lease Agreement, <br /> <br />the parties have determined that the fair market annual rental <br /> <br />value of the leased premises for and during the renewal term is <br /> <br />and, shall be, Seven Thousand Dollars ($7,000) per annum; and <br /> <br />WHEREAS, this Council desires to consent to the assignment <br /> <br />of the Lease Agreement to Pac Tel, acknowledge exercise of its <br /> <br />option to renew and extend the term of the lease and to establish <br /> <br />the fair market rental value for said renewal term; <br /> <br />NOW THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />.. '~'-'-T-T-' <br />