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FXS:c~ 06 5/92 (005/31) <br /> <br /> RESOLUTION NO. P-1386 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br /> SUPPLEMENT TO LEASE AGREEMENT (RENEWAL TERM) BAY <br /> CITIES BUILDING MATERIALS CO., INC. <br /> <br /> WHEREAS, pursuant to Ordinance No. P-120, adopted June <br />10, 1987, the City of Redwood City, acting by and through its <br />Board of Port Commissioners, entered into a lease agreement with <br />Bay Cities Building Material Co., Inc., ("Bay Cities") dated July <br />10, 1987, Es amended by Amendment to Lease Agreement approved by <br />Ordinance No. P-123, adopted September 9, 1987, by said Board <br />(collectively, the "Lease Agreement"); and <br /> <br /> WHEREAS, pursuant to Section 2 of the Lease Agreement, Bay <br />Cities has exercised its right and option to extend the Lease <br />Agreement for a five year term (the "Renewal. Term") and, pursuant <br />to Section 3(b) thereof, the parties have agreed upon the rental <br />applicable during said Renewal Term; and <br /> <br /> WHEREAS, there has been presented to and reviewed by this <br /> <br />Board a document entitled "Supplement to Lease Agreement" <br /> <br />memorializing the aforesaid agreement; <br /> NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF THE <br />CITY OF REDWOOD CITY, AS FOLLOWS: <br /> <br /> That certain Agreement entitled "Supplement to Lease <br />Agreement" (form dated 06/15/92) , by and between the City of <br />Redwood City, acting by and through its Board of Port <br />Commissioners and Bay Cities Building Materials Co. , Inc. , <br />providing for the rental established pursuant to Section 3(b) of <br /> <br /> <br />