Laserfiche WebLink
DRAFT 5/18/2018 <br />AGREEMENT <br />6.1.F. - Page 12 <br />In consideration of the foregoing recitals and the following conveyances and terms, the <br />Parties hereby agree as follows: <br />I. Conveyances to Effectuate Exchange. Subject to the conditions of closing and <br />other terms and conditions of this Agreement, the Parties shall make the following conveyances <br />of property: <br />a. Citv Convevance to State. The City shall convey, remise, release, and <br />forever quitclaim to the Commission all of the City's right, title, and interest in the Exchange <br />Lands. The conveyance shall be by Quitclaim Deed in the form of Exhibit E (Form of City <br />Quitclaim Deed). <br />b. State Lease of Trust Addition Lands to Citv. The Commission and the <br />City shall enter into an interim lease (Interim Trust Lease) of the Trust Addition Lands in <br />substantially the form of Exhibit G (Form of Interim Trust Lease). The lease will terminate upon <br />the effectiveness of Trustee Legislation, as described inecion . <br />C. State Convevance of Trust Termination Lands to Citv. The Commission <br />shall convey, remise, release, and forever quitclaim to the City all of the State's right, title, and <br />interest (including any right, title, and interest existing by virtue of its sovereignty) in the Trust <br />Termination Lands, which conveyance shall be by Patent in the form of Exhibit F (Form of Trust <br />Termination Patent) and shall specifically release and terminate any Trust interest in the lands <br />conveyed. <br />2. Convevance Order and Timing. Each conveyance listed in Section, above, shall <br />be recorded in the public records of San Mateo County sequentially and on the same day. <br />3. Trustee Legislation. The Parties agree to use reasonable efforts to promptly seek <br />legislation granting to City, as trustee subject to the Granting Act Trust, the Trust Addition <br />Lands. <br />4. Commission Findings. The Commission, effective upon recordation of this <br />Agreement, makes the following findings as required by Public Resources Code section 6307: <br />a. The exchange is for purposes that include resolving boundary and title <br />disputes; creating and enhancing open space; enhancing the physical configuration of trust land <br />ownership; improving public access to and along the water; and enhancing waterfront and <br />nearshore development and redevelopment for Public Trust purposes. <br />b. The lands or interests in lands to be acquired in the exchange will provide <br />a significant benefit to the Public Trust. <br />C. The exchange does not substantially interfere with public rights of <br />navigation and fishing. <br />