HomeMy WebLinkAboutReso 1962-2956MODIFICATION OF LEASE AGREEMENT
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RESOLUTION No. 2956
RESOLUTION AUTHORIZING THE EXECUTION OF MODIFICATION TO LEASE
AGREEMENT AND TRANSFER OF ADVANCE RENTAL FROM HARBOR FUND TO
THE CITY OF CHULA VISTA IN SATISFACTION OF PRIOR DEBT AND LIEN
,_WHEREAS the City of Chula Vista has heretofore entered into a
certain lease agreement dated March 20, 1956 with the Rohr Aircraft Corp. and
WHEREAS said Rohr Aircraft Corp. has since changed its legal name
to Rohr Corporation and
WHEREAS the Rohr Corporation has offered and requested to make an
advance payment of rent upon that certain lease dated March 20, 1956, between
the City of Chula Vista, as Lessor, and tie ROHR CORPORATION, as Lessee, and
WHEREAS a certain form of agreement designated MODIFICATION OF
LEASE AGREEMENT is hereby attached hereto and marked Exhibit "A" and incorpor-
ated herein by this reference thereto as though here set forth in full,
NOW, THEREFORE, BE IT RESOLVED as follows:
1. The City of Chula Vista finds that it would be good business practice
to accept such advance payment of rent and discount same as provided for and
set out in the said MODIFICATION TO LEASE AGREEMENT.
2. The Mayor and the Chief Administrative Officer are hereby authorized
to execute said MODIFICATION OF LEASE AGREEMENT on behalf of the City of
Chula Vista.
3. The Finance Officer, Gordon, K. Grant, is hereby authorized and
directed to withdraw the said sum of $110,556.72, to be received by the Harbor
Fund from Rohr Corporation, and transfer and pay same to the City of Chula Vista
as payment in full and in discharge and satisfaction of that certain and lien
owing to the City of Chula Vista as evidenced in the Minutes of the Council
meeting the 20th day of March, 1959, and as evidenced in Ordinance No. 813,
passed the 30th day of October, 1962, and further, any other proper and necessary
acts to discharge and cancel said debt and lien are hereby authorized to be
done by said Mayor and Chief Administrative Officer, including the execution
of documents.
ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF
CHULA VISTA, CALIFORNIA, this 3rd day of November 1%2
by the following vote, to-wit:
AYES: COUNCILMEN McAllister, Menzel, Smith, DeGraaf
NAYES: COUNCILMEN None
ABSENT: COUNCILMEN Councilman McMains
Mayor of the Cit of .:+'ula Vista
ATTEST
' C ty Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, KENNETH P. CAMPBELL, City Clerk of the City of Chula Vista,
California, DO HEREBY CERTIFY that the above and foregoing is a full,
true and correct copy of , and
that the same has not been amended or repealed.
DATED:
City Clerk
•
MODIFIdATION OF LEASE AGREEMENT
WHEREAS the City of Chula Vista, a municipal corporation, as Lessor,
: .: and the ROHR CORPORATION, a California corporation as Lessee, have heretofore
entered into a Lease Agreement dated March 20, 1959, covering the possession
of certain tidelands of the City of Chula Vista as more particularly described
and set out in Exhibit "A' of said document, being an area of 8.77 acres more
• or less, and .
• WHEREAS said lease provides in paragraph Second for certain rentals
to be paid by Lessee to Lessor yearly in advance, and
WHEREAS pursuant to notice served by the City of Chula Vista upon
the Lessee, ROHR CORPORATION, the term of said lease commenced June 1, 1959,
for a period of twenty (20) years from date thereof, and
WHEREAS Lessee desires to make an advance payment of rent upon the
. said lease, .
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
1. That certain lease between THE CITY OF CHULA VISTA, as Lessor, and
the ROHR CORPORATION, as Lessee, dated March 20, 1959, is hereby incorporated
herein by this reference thereto as though here set forth in full.
2. Lessee ROHR CORPORATION hereby agrees to pay and the CITY OF CHULA
VISTA hereby agrees to accept the sum of $110,556.72 as advance rental, and
in satisfaction of the rental for the period June 1, 1963, through and including
May 31, 1977. •
3. It is recognized by the parties hereto and agreed that the modification
of rent as set out in paragraph 2 hereinabove represents a discount to Lessee in
consideration of the advance payment of rent as hereinabove set forth. It is
within the contemplation of the parties that the said discount represents the
fair value of the use of the amount of money represented by said advance payment
for the said period.
- 4. The said lease and particularly Paragraph Second thereof is amended
as hereinabove provided and shall be hereinafter construed and interpreted to give
effect to the foregoing provisions, and should any uncertainty or ambiguity in
the reading or construction of said lease arise because of the execution of this
MODIFICATION OF LEASE AGREEMENT, such uncertainty or ambiguity shall be resolved
to give effect to the provisions of the modification provided for herein.
• 5. The City of Chula Vista hereby agrees to hold Rohr Corporation harmless '
for any loss suffered by reason of the advance payment of rent, however such
damage shall be limited to any additional sums which Rohr Corporation might have
to pay for rent for any period for which prepayment of rent is made herefor.
• - • Dated: November 5, 1962 /
Mayor of the Cit of • ula Vista
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. Chief Administrative Officer
ROHR CORPORATION
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Secretary