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D~S: k 08/08/88 (#21) <br />,~ ~ [ 3:c~k 09/08/88R <br /> <br /> RESOLUTION NO. P-1301 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF REAL <br /> PROPERTY LEASE/PURCHASE AGREEMENT <br /> <br /> (REFINANCING AND FINANCING OF ACQUISITION AND <br /> CONSTRUCTION OF LUMBER TERMINAL IMPROVEMENTS) <br /> <br /> WHEREAS, the City of Redwood City, a municipal corporation <br /> of the State of California, acting by and through the Board of <br /> Port Commissioners of said City (the "Port") entered into that <br /> certain "Lease Agreement - Lumber Terminal" (the "Master Terminal <br /> Lease") with Pope & Talbot, Inc. ("Pope & Talbot") pursuant to <br /> which the Port leased approximately 2.5 acres of Port property <br /> ("Parcel I", described in the Master Terminal Lease, the Existing <br /> Ground Lease, and the Refunded Lease [hereinafter defined]) to <br /> Pope & Talbot for use as a lumber terminal for a term of 3 years; <br /> and <br /> <br /> WHEREAS, pursuant to that certain "Ground Lease Agreement" <br /> dated as of November 1, 1986 (the "Existing Ground Lease") , <br /> between the Port, as Lessor, and First Municipal Leasing <br /> Corporation ("FMLC") as Lessee, and that certain "Lease-Purchase <br /> Agreement" dated as of November 1, 1986 (the "Refunded Lease") by <br /> and between.the Port, as Lessee, and FMLC, as Lessor, the Port <br /> financed, acquired, constructed, and installed certain <br /> improvements upon Parcel I for use by Pope & Talbot under the <br /> Master Terminal Lease; and <br /> <br /> WHEREAS, the Port d~sires to expand the area leased to Pope <br /> & Talbot to include Parcel II (comprised of approximately 1.54 <br /> acres) and to provide for the financing, acquisition, <br /> construction, and installation of additional improvements <br /> <br /> <br />