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<br />.J-, <br /> <br />. <br /> <br />. <br /> <br />said term is defined in the lease agreement) and ending <br />on the day next preceding the lIoccupancy datell (as said <br />term is defined in the lease agreement) . <br /> <br />(b) lst Through lOth Years, Inclusive: <br />(l) Total basic rental: $100,000 for ten year period. <br /> <br />(2) Percentage rental: l% of gross receipts received <br />over $500,000 to and including $1,OOO,OOO per <br />year; plus 2% of gross receipts received over <br />$l,OOO,OOO per year. <br /> <br />(c) lIth Through 20th Years, Inclusive: <br /> <br />(l) Total basic rental: $l25,000 fO~,ten year period. <br /> <br />(2) Percentage rental: l-l/2% of gross receipts <br />received over $500,000 to and including $1,000,000 <br />per year; plus 2-l/2% of gross receipts received. <br />over $l,OOO,DOO per year. <br /> <br />(d) 2lst Through 30th Years, Inclusive: <br />(l) Total basic rental: $l50;000 for ten year period. <br /> <br />(2) Percentage rental: 2% of gross receipts received <br />over $500,000 to and including $l,OOO,OOO per year; <br />plus 3% of gross receipts received over $1,000,000 <br />per year.. <br /> <br />Subject to the provisions of paragraph 3 hereof, the City Manager <br /> <br />is hereby authorized and directed to execute the lease agreement, <br /> <br />entitled II City of Redwood City - Red\vood City, California - <br /> <br />Lease Agreement - Marine Harbor Restaurant Facilities" (which <br /> <br />lease agreement was heretofore approved by the above mentioned <br /> <br />Resolution No. 6193), for and on behalf of the city of Redwood <br /> <br />city. <br /> <br />2. Any irregularities or informalities in the bid of Host <br /> <br />International, Inc., are hereby waiveq. <br /> <br />3. This resolution, and the authority granted in paragraph 1 <br /> <br />hereof, shall not become effective unless and until the action <br /> <br />provided for herein is approved by the Department ,of Navigation <br /> <br />and Ocean Development or the Navigation and Ocean 'Development <br /> <br />Commission, as appropriate, of the state of California, and/or <br /> <br />such other governmental agencies or bodies as may be appropriate. <br /> <br />-2- <br />