Laserfiche WebLink
COPY <br />RESOLUTION NO. P-2347 <br />RESOLUTION APPROVING LEASING AGREEMENT — <br />WASTEWATER TREATMENT CAPACITY RIGHTS - AND <br />AUTHORIZING AND DIRECTING EXECUTION THEREOF <br />(Seaport Environmental, LLC) <br />WHEREAS, a leasing agreement entitled "Wastewater Treatment <br />Capacity Rights" (the "Capacity Lease') by and between the Port of Redwood <br />City, by and through its Board of Port Commissioners (the "Port") and Seaport <br />Environmental, LLC. ("Seaport Environmental'), for the leasing by Port to <br />Seaport Environmental of wastewater treatment capacity rights has been <br />presented to the Board of Port Commissioners for approval; and <br />WHEREAS, the Capacity Lease provides in part that the operative date of <br />this Capacity Lease shall be the same as the effective date of the sublease <br />agreement (the "the Sublease") between Seaport Refining & Environmental, LLC <br />and Seaport Environmental for the subleasing of a portion of the property known <br />as 679 Seaport Blvd. Redwood City, CA., which is presented to the Board of Port <br />Commissioners for approval concurrently with the Resolution for the approval of <br />said Sublease; the operative date of this Capacity Lease shall be the same as <br />the effective date of the Sublease and the term of this Capacity Lease shall <br />expire on December 31, 2022, unless sooner terminated pursuant to the <br />provisions of this Capacity Lease; for a period of Seven (7) Years and ending <br />upon termination of the Land Lease; Seaport Environmental is hereby granted <br />the right and option to renew and extend the Initial Term of this Capacity Lease <br />for one (1) period of five (5) years; Seaport Environmental shall pay the Port as <br />rental for the leased capacity during the initial term of the Capacity Lease (the <br />Reso 248 <br />01/19/17 1 <br />FXS <br />