Resolution 11168CITY OF ALAMEDA RESOLUTION NO. 11168
CONSENT TO HYPOTHECATION OF INTEREST OF ENCINAL
MARINA, INC. IN CERTAIN TIDELANDS LEASES WITH THE
CITY OF ALAMEDA BY LEASEHOLD MORTGAGE
WHEREAS, a certain Amended and Restated Lease was entered
into by and between the City of Alameda, as Lessor, and Encinal
Industries, Inc., as Lessee, on the 6th day of January, 1984,
relating to certain tidelands east of Fortman Marina and north
of Fortmann Way; and
WHEREAS, the City has consented to the assignment of
Parcels No. 23, 24, 25, 26, 27 and 28 of said Lease to Encinal
Marina, Inc.; and
WHEREAS, a certain Tidelands Lease was entered into by
and between the City of Alameda, as Lessor, and Encinal Industries,
Inc., as Lessee, on the 10th day of October, 1983, relating to
certain tidelands at the foot of Grand Street; and
WHEREAS, the City has consented to the assignment of this
Tidelands Lease to Encinal Marina, Inc. (hereafter "Lessee "); and
WHEREAS, Lessee desires to enter into certain financing
agreements with Bank of the West, to be partially secured by a
deed of trust ( "Leasehold Mortgage ") encumbering Lessee's
interest in the leases; and
WHEREAS, it is a condition precedent to the financing
agreements that the City as Lessor consent to the hypothecation
of Lessee's interest in the leases by a Leasehold Mortgage; and
WHEREAS, a proposed form of Consent to Hypothecation of
Lease and Agreement has been submitted to this Council and the
Council is informed and aware of the terms and conditions
thereof; and
WHEREAS, it is in the best interests of the City that such
consent be given;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Alameda that said City does hereby consent to the hypotheca-
tion of Lessee's interest in the said tidelands leases by
Leasehold Mortgage; and
BE IT FURTHER RESOLVED that the Mayor of the City of
Alameda be, and she is hereby, authorized to execute, for and on
behalf of the City, a Consent to Hypothecation of Lease and
Agreement with the Bank of the West. The City Clerk is hereby
directed to attest to same.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 7th of April, 1987,
by the following vote to wit:
AYES: Councilmembers Corica, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 8th day of April, 1987.
City Clerk of the City of Alameda