Resolution 15356CITY OF ALAMEDA RESOLUTION NO. 15356
CONFIRMING A GROUND LESSOR'S CONSENT AND ESTOPPEL
CERTIFICATE AND AGREEMENT AND AUTHORIZING THE CITY
MANAGER TO EXECUTE DOCUMENTS NECESSARY TO
IMPLEMENT THE TERMS OF THE GROUND LESSOR'S CONSENT
AND ESTOPPEL CERTIFICATE WITH ENCINAL MARINA, LTD. DBA
GRAND MARINA
WHEREAS, Encinal Marina, Ltd. dba Grand Marina (Encina) Marina) is seeking a
loan from the Bank of Marin for which it intends to pledge as security its leasehold
interests in certain tidelands parcels; and
WHEREAS, In 1979 Encinal Industries, Inc. now known as Encinal Investments
Inc. ("Encinal Industries"), signed a lease with the City for certain tidelands parcels. That
lease was superseded by an Amended and Restated Lease dated January 6, 1984 (the
"A&R Lease"). A second lease between the City and Encinal Industries was signed in
1983 the "Tidelands Lease"). Both leases included extension options which have been
exercised; and
WHEREAS, By an Assignment of Leasehold, recorded 3/14/86, Encinal
Industries assigned to Encinal Marina its leasehold interest in 4 of the 11 parcels under
the A&R Lease. Then, by a Second Assignment of Leasehold also recorded 3/14/86,
Encinal Industries assigned to Encinal Marina its leasehold interest in 2 additional
parcels under the A&R lease. That Assignment of Leasehold also assigned Encinal
Industries interests under the Tidelands Lease to Encinal Marina; and
WHEREAS, Encinal Marina desires to enter into a financing transaction with the
Bank of Marin which will provide an extension of credit in favor of Encinal Marina; and
WHEREAS, the lender requires that the City of Alameda sign and approve the
Ground Lessor's Consent, Estoppel Certificate and Agreement.
NOW, THEREFORE, BE IT RESOLVED that The City Manager of the City of
Alameda is hereby authorized to negotiate, execute, for and on behalf of the City of
Alameda, a Consent, Estoppel Certificate and Agreement, reaffirming the underlying
tidelands leases and Encinal Marina's interests in them and consenting to the Bank of
Marin Loan and the encumbrance of Encinal Marina's interests in the two leases by the
lender. Subject to such technical or clarifying revisions as are reasonably determined
necessary by the City Manager and approved by the City Attorney, and the City Clerk is
hereby authorized and directed to attest to the same.
1, the undersigned, hereby certify that the foregoing resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in a regular
meeting assembled on the 20th day of March, 2018, by the following vote to wit:
AYES: Councilmembers Ezzy Ashcraft, Matarrese, Oddie, Vella and
Mayor Spencer — 5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official
seal of said City this 21St day of March 2018.
G
Lara Weisiger, City Ojetl<
City of Alameda
Approved as to Form:
Janet C . ern, City Attorney
City of Alameda