Ordinance 1909CITY OF ALAMEDA ORDINANCE NO. 1909
New Series
AUTHORIZING EXECUTION OF ACKNOWLEDGMENT BY LESSOR
RELATING TO ASSIGNMENT TO MARINA OPERATORS INCORPORATED
BY PAN- PACIFIC DEVELOPMENT COMPANY OF ITS INTEREST
IN A MASTER LEASE WITH CITY
WHEREAS, on the 17th day of April, 1968, a lease, entitled
"Master Lease of certain real property awned by the City of
Alameda was entered into by and between the City of Alameda, as
Lessor, and Pan Pacific Development Company, a California corpo-
ration, as Lessee; and
WHEREAS, said Master Lease was modified by an "Amendment
to Lease" on July 31, 1973; and
WHEREAS, Pan Pacific has entered into an agreement with
Marina Operators Incorporated, a California corporation, to
assign to said Marina Operators all of its right, title and
interest in and to said "Master Lease subject to the approval
Of the City of Alameda as required by Paragraph 4 of said Lease;
and
WHEREAS, Pan Pacific will, by the terms of its agreement
with Marina Operators, receive a security interest in the
interest of Marina Operators in said Master Lease, as amended;
and
WHEREAS, a form of Acknowledgment by Lessor of the agreement
between Pan- Pacific and Marina Operators has been prepared and
submitted to this Council and is on file in tie office of the
City C1er< marked, "Filed, Pebru,ry 7, 1978," and the Council
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aware of anu approves the contents thereof;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE
CITY OF ALAMEDA that:
Section 1 The City Manager of the City of Alameda be,
and he is hereby, authorized to execute, for and on behalf of
the City, the written Acknowledgment by Lessor which acknow-
ledges notice of and consents to the assignment by Pan- Pacific
Development Company of all its right, title and interest in
and to said Master Lease to Marina Operators Incorporated and
acknowledges notice of and consents to the creation or the
security interests as set forth in said Acknowledgment. The
City Clerk is hereby directed to attest to same.
Section 2 This ordinance shall be in full force and
effect from and after the expiration of thirty (30) days from
the date of its final passage.
Via%
Attest: Pres ng Officer of the Council
Citv Clerk
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I, the undersigned, hereby certify that the foregoing Ordinance was
duly and regularly adopted and passed by the Council of the City of Alameda
in regular meeting assembled an the 21st day of February, by the following
vote, to wit;
AYES; Councilmen Tillman, Biament, Sherratt, and president Corica, (4),
NOE5; None.
ABSENT: Councilman Beckam, (1).
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 22nd day of February, 1978.
it:'ty L`l crk of the City of amen