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HomeMy WebLinkAboutRes1988-062 . . . Sponsored by: Schaefermeyer CITY OF SEWARD, ALASKA RESOLUTION NO. 88-062 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, AUTHORIZING THE EXECUTION OF A LEASE AGREEMENT BETWEEN THE CITY AND SHORES IDE PETROLEUM, INC., DBA HARBOR FUEL SERVICE WHEREAS, the City Council of the City of Seward has on numerous occasions found it in the public interest to encourage private development of essential marine-related service businesses at the Seward Marine Industrial Center; and WHEREAS, for several years land at the Seward Marine Industrial Center has been available to qualified businesses for lease to develop marine-related businesses; and WHEREAS, the City Council of the City of Seward has a preference to encourage the development and expansion of existing Seward-based businesses; and WHEREAS, Shoreside Petroleum, Inc., dba Harbor Fuel Service, is an established Seward company with an excellent reputation for service within the Seward area; and WHEREAS, Shoreside Petroleum, Inc., dba Harbor Fuel Service, has proposed to lease a parcel of land at the Seward Marine Industrial Center for the development of a bulk fuel storage and sales facility; and WHEREAS, the use of the land by Lessee will provide essential marine support services within the Seward Marine Industrial Center and will provide a new and beneficial industry for Seward including increased employment and private investment; and WHEREAS, the lease provisions provide for a fair market value lease agreement based on consistent leasing practices within the city and it is not in the public interest to incur the expense of an appraisal of the property for the initial lease rate determination; and WHEREAS, by negotiation the city has obtained a fair rental rate, a commitment to develop a new industry and other commitments by the Lessee that would not have been attainable in a public bid process; -1- . . . CITY OF SEWARD, ALASKA RESOLUTION NO. ~-()h7 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The City Manager is authorized to execute on behalf of the City of Seward the lease agreement attached hereto as Exhibit A. Section 2. The City Council finds that it is not in the public interest to obtain an appraisal of the property being leased. Section 3. This resolution shall take effect thirty days from the date of passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, this ~ day of May , 19~. THE CITY OF SEWARD, ALASKA AYES: NOES: ABSENT: ABSTAIN: DUNHAM, GIESELER, HILTON, MEEHAN, NOLL, O'BRIEN, SIMUTIS NONE NONE NONE ATTEST: APPROVED AS TO FORM: HUGHES, THORSNESS, GANTZ, POWELL & BRUNDIN, Attorneys for the City of Seward, AK ~ ~ ~ eN" ()./\ Linda S. Murphy, CMC City Clerk Patricia Jones, Acting City (City Seal) 7~ flI~ Fred B. Arvidson City Attorney Clerk -2- . . . iti 69180S~ 81 :81 61/~0 LEASE AGRI::EMEN1' THIS ~GREEMFNT dated this' day of May, 1988, is betwe~n the CITY Of SEWARD, At.ASKA, a Home Rule Municipality (nCITyn) and SHORESIDE PETROLEUM. INC.. and Alaska Corporation d/b/a HARBOR FUEL SERVICE (nLESSEEn). WHEREAS, ~he City Council of the city of Seward has on num~[OUS occasions found it in the public interest to encourage private developm@.nt of essential marine-related service businesses at th~ Seward Marine Industrial Center; and WHEREAS, Shoceside Petroleum Inc., d/b/a Harbor fuel Service, has pr0posed to lease a parcel of land at the Seward Marine Industrial Center for the development of a bulk fuel storage and sales facility; and WHER~AS, the use of the land by Lessee will provide essential marine support services within the S€ward Marine Indu~trial Cent.er and will provide a new and beneficial industry for Seward including increased employment and ~rivate investment; NOW, THEREFORE, far and in consideration of the mutual promises and covenants herelnaft€r contained, the parties hereto agree as followR: ARTTCLE l.--LEASED LAND. The leased land granted by CITY under this lease (heteinaEter referred to as "leased land") consists of " Hatbor Fuel Service Le~se Page 1 6t jO 6t# 69t808, 02:81 61/;0 " the orderly development of the property and as leases are entered into with various tenants. CIT~ agrees to include the leased land in the next re-plat.,cE the Seward Marine Industrial Center in accordance with the description prepared by LESSeE in accordance with Section 1.1 above. If LESSEE requires a plat o( the leased land prior to that time, LESSEE may request an earlier fe-plat and, upon request. CITY sh~11 assist LESSEF in the preparation and filing of a re-plat of the leased land. If LESSEE requAsts a special Ie-plat LFSSEE shall reimburse CITY Eor the CIT~'S direct costs in assisting in the preparation and filing of that re-plat. 1.3--~oyen3nt of Quiet !njoymen~. CITY does hereby lease the leased land to LESSE~ only for the establishment and operation of a bulk fuel storage and sales and any incidental c necessary activities or structures related thereto. LESSEE may not engage in other additional lawful industrial activities on the leased land without the consent oE CITY, A primary reason for CITY's €nterinq into this lease agreement is the co~nitment of LESSEE to construct and operate bulk fuel storage and sales facilities that will complement the CITY's plan for development of the Seward Marine Industrial Center. Subject only to restrlctlons of title or in patent to the leased land. or provisions nf this lease, CIty hereby covenants that LESSEE shall have the quiet enjoyment and possession of the leased land for any 11se authorized hereunder for the full term of this Harbor Fuel Service Lease Page 3 20# 6'3t80S, t:'2:St 6ti~0 . acceptable service location. All costs associated with 9~oviding electricaL servic@ to LESSEE's facilities and , I Lmp~ovemen~s ~re at the sole coSt and expense of LESSEE. If needed by LESSF.E, CITY shall mak~ its best efforts to provide tempOtdcy electrical service to the leased premises. 7., :1--!:!..ater. By September I, 1988. CITY shall make potable water available to the leased land, 2.4--Sewer. CITY does not have funding far construction of sewer faciLities but intends to construct those . facilities if and when funding is available. The term -sewer- means sanitary sewer sufficient for use by employees of LESSEE and employees of tend~d vessels. It does not include. nor is CITY responsible to provide. special treatment or handling facilities Eor industrial waste. waste oil products, bunker oil or contaminat~d WAter of any type associated with a bulk ~uel storage and sales facility inclUding all waste petroleum and che[l\icals. If CtTY has not constructed sewer facilities by the time LESSEE commences operation of its repair facilities, LF.SSEE may install te!l1tlor<lry sawer facilities (including a leech field if appropriate) at LESSF.E's sole expense and upon approval ot such facilities by the City enQineer and the approval of all necessary pe~mit5 for their use including any required by the Oepart:nent of Envi.r:mmental Quality of the State of Alaska. O~ the Environmental Protection Agency of the United States, and . further provided T,ESSEE connects to the public sewer when Harbor Fuel Service Lease Page 5 t'0# 69t802L ~2:8t 6t/~0 or any pact thereof, the establishment of party walls. the establishment of mutual and reciprocal parkinq eights or eights of ingress or eqr~ss. or other like'matters. all of which are for the purpose of the orderly development of the leased land as a commercial unit subject, however, to the conditions that: a) All Such matter-s sha 11 be lirni ted to the lease term and shall terminate upon termination of the lease for whatever reaSI:ln. bl Any such matters of a permanent nature extending beyond the lease term shall not be granted without the prior written approval o~ CITY. In any of the foregoing instances referred to in this para9raph. CITY shall be without expense thereeare, and the cost and expense thereof shall be borne solely by LFSSEE. 2.7--E:d:;Elll}ents. CITY agreels to grant non-exclusive easements across and to the Seward Marine Industrial Center North Dock for the transfer of bulK fuel and petroleum products to and from the leased land and the North Dock. CITY agrees to promptly prepare. with the assistance of LESSEE, appropriate easement documents with respect to those easements. 2.8--FutuL'e Easements. In order to provide for the more orderly development of the leased land and adjacent lands including ~ubllrly Qwned facilities at the Seward Marine Industrial Center. it may be necessary, desirable or required ~ that street, water, sewer. drainage. gas, power &ine and other Harbor Fuel Service Lease Page 7 . . . '~ 0# . ~ t 8i:l,... / b~ I t)l:"~ a:8t 6t/~0 development has been determined by the City Councll of the City of Seward to be in the public interest. LESSEE shall have the r1~ht to ~rect. maintain, aLter. n:,:model, r@construct, rebuild, bui.ld and/or re~lace buildings and other improvements on the leased land. and correct and change the contour of the leased land subject to the following conditions: a) The cost of any such construction, reconstruction, d~moli.tion. or of any changes, alterations or improvements, shall be borne and paid for by LESSEE; b) The leased land shall at all times be kept free of mechanics and materialmen's liens, and LESSEE shall pro'lide or see provided adequate workers' compensation insurance and liability insurance for itself and its subcontractors; c) LESSEE shall supply CITY with a copy of all building plans and specifications and site plan(s) for the leased land; d) Any general contractor employed by LESSEE shall be appropriately bonded by use of performance and l3bor and material payment bonds when the cost of the worK is over Fifty Thousand Dollars ($50,000), Copies of all such bonds shall he furnished to CITY prior to commencement of construction; and e) CITY may, as contemplated by Alaska ", 'Statutes. give notice of nonresponsibility for any improvements Harbor Fuel Service Lease Page 9 80# 69!S0S, sa:8t 6t/!;t;l construction of a perman~nt facility and to COllunence operati.on of the faci li.ty within one (1) year after execution of the le ;:Ise shall be cause for t~rmination at tlte option of the CITY, 3.4--0elays in Construction of Initial Facilities. Payment (jf Rent and Emplqy!oent. In the event LESSEE or CITY is delayed in the p~rformance of its obligations under ARTICLE 3 (Facility Constructi.on), due to acts of God such as earthquake, flood, tidal wave, or war. the time periad wherein such performance is to occur shall be extended by that amount of time necessary to compensate foe the delay. The term "acts of God" shall not be interpreted in this Section to include adv~rse weather conditions. it being understood that weather in Seward, Alaska, is frequently adverse. Only a flood of a magnitude of a IOO-year event or greater shall be considered sufficient to be a force mrtjeure under this Section. ARTICLE 4,--RIGHT OF FIRST RF.FUSAL ON ADJACENT LAND In recogni~ion of LESSEE's interest in expansion of its bulk fuel storage operations beyond the l~ased land, and as fl,Jrther inducf::!ment to LESSEE to enter into this lease agreement. CITY hereby grants to LESSEE the right to meet or exceed any o!fer by a third party to lease the City land within that uutlined in GREEN consisting of approximately 30,000 square teet adjacent to the leased land to the east on Exhibit A and not included 1n this lease in accordance with the following provisions: Harbor Fuel Service Lease Page 11 0U 69t80U 62:U 61/~0 . shall operate to terminate all of LESSEE's rights hereundec to lease the land {or ~urchase it if the third party offer was an offer to purchase). d) Intent, The intent of this provision 1S to provide for ~dditiGnal expansion room for LESS~E without restricting CITY Erom seeking development of that land from other parties. The parties recognize that, except for the obligations cont~ined in this lease agreement. LESSEE shall. during the option period, not be required to pay any additional consideration for the right contained in this ARTICLE. ARTICLE 5.--TERM. The term of thi~ lease shall be as follows: S,l--Init.t~lConstruc~,~_on Term. From and after thirty (30) days from the date the City Council of the city of Seward approves tnis Lease Agreement until the earlier of the cOflunencement of operations as defined herein or twelve months from the oate of the signing of this leas~. whichever first OCC'.lr~, The term "commenceloent of operations" means that point ,~here LESSFE has in place at least TWO HUNDRED THOUSAND DOLLARS ($200.000) of value of permanent improvements consisting of bulk fuel storage tanks and ancillary appurtenances. If LESSER does not have rerm~nent improvements to the leased land with a value of at le.,~l' ~wo Hl;NDRf::D THOUSAND DOLLARS ($200,000) within twelve (12) months of the signing of this lease, then this lease may be tecrninaterJ .n the opticn of CITY and CITY need not give . . Harbor Fuel Service L@ase Page 13 2t# 69t808, 08:8t 6t/S0 ARTICLE 6,--RE~ 6.1--~t~ial Rental Rate, During the first five (5) years of this lea~~, some of whldh period will be the initial construction term, the annual rental rate shall be TEN CENTS ($.10) pec square fQct for an annual rent of approximately THREE THOUSAND DOLLARS ($],000) per Year. The exact rent shall be recalclllated baS8d on the results of the survey referred to in Section 1.1 above and an estimated fair market value of $1.25 per square foot (based on a Letter of Opinion from Appraisal Company of Alaska dated Maech, 1987) and a rate of return of eight percent (8\). Th~ rent shall be payable annually in advance on or before the anniversary date of each year. The anniversary date shall be thirty (30) days following the approval of this lease agreement by the City Council of the City of Seward. The parties understand that the rental rate is based on a Letter of Opinion that pre-dates the substantial public irnp,ovements constructed since then at the Seward Marine Industrial Center and is substantially less than fair market value, and that the renuced rental for the initial five (5) year period of the lease is in consideration for LESSEE commitments to construct facilities on the leased land and operate them. 6.2--~enta~ Adiustments. Not more than ninety (90) days before the fifth anniversary date of the lease, and once each five years thereaft~r throllghout the term of this lease including renewals or extensions, the annual rental due and Harbor Fuel Service Lease Page 15 ~1# 69180S~ 18:81 61/S0 . objection before the date when the new rental rate is to. be effective. LESSEE shall then engage a second independent MAl certif~ed appraiser at its expen~e to make a second appraisal of the fair rental value of the leased land. L!SSEE shall furnish CITY a copy of t~e second appraisal report. If the secand a~prdisal reElects ry "air mark~t value rental which varies from the firs~ appraisal by no more than ten percent (10\), then the new rental rate of the first and second appraisal reports. If the second appraisal reflects a fair market value rental which varies from the first appraisal by more than ten percent (10\)/ then the new rental rate shall be determined in accordance with the arbitr~Lloll provisions contained in ARTICLE 16. LESSEF.'s ~bjection to the rental rate and engagement of a second appraiser shall not postpan€ LESSEE's obligatian to pay the annual cental dR described in CITY's notice of rental rate based on the first appraisal. LESSEE shall deposit into a Sepa(dte trust account the amount of rental rate as fixed by the fi,st appr~isal until the question of rental adjustment is resolv~d, . . ARTICLE 7.--CRF.DITS AGAINST RENT. 7.1--tnvestment Incentive. As an incentive to ~[ovide for inve~tment at the Seward Martne Industrial Center, LESSEE shall be entitled to credit against rent if the conditions in the following Sections are met: 7.2--Deadline and Form~~a for Credit. Until July 1, . Harbor Fuel Service Lease Page 17 ',1# ~'~T8~::'j .. ... ~ ..... " :S:S:St 6L'':;1j , first appraisal by no more than ten percent (10\), then the two appraisal values shall be averaged. If the second appraisal reflects ~ fair market value renbal which varies from the first appraisal by more than ten percent (10\), then, unless CITY and LESSEE agree on a value alnong themselves, the value of improvements shall be determined 1n acco[danc~ with the arbitration provisions contained in ARTICLE 16 of this lease. During the time period that the parties are in the process of arbitrating the Fair mArket value of LESSEE's improvements, LESSEE shall not be required to pay rent provided the lower of th~ two appraisals would still provide for a credit against rent. After the fair market value of the improvements constructed by LESSEE has been determined, the number of months of rental credit to which L[SSEE shall be entitled shall be computed by diVldinc,j that value by the sum of EIGHTY THOUSAND DOLLARS ($80.000). The resulting figure. up to a maximum of thre~ (J) ye~(s, shall represent the number ot years to which LFSSEE shall be entitled to a rental credit. LESSER shall not be entitled to any fractional portion beyond a full month. For example. and by W:3y of i.llustration, if it is determined that by July 1, 1989, LESSEE has constructed improvements to the leased land with a fair market value of TWO HUNDRED THOUSAND DOLLARS ($200,000) then LESSEE shall b@ entitlprl to a rental credit equi.valent to two (;') months of lease paYII\cnt obligations under Harbor Fuel Service Lease Page 19 . . . 8t# 6'n 80U H:8t 6t/~0 Industrial Center are exposed to risK or hazards, or a risk to the public interest (as distinguished from a business risk), or if the City is not satisfied with ~he quality of construction or the conduct of LESSEE's business, the City may engage an independent engineering consultant well versed and experienced in bulk fuel storage and sales facilities who shall furnish to the City a comprehensive survey and report for the purpose of establishing wh~ther the work by LESSEE poses an unreasonable risk to adjacent public port facilities pUblic waters or adjacent private facilities. and if that survey discloses an unreasonable risk then LESSEE shall pay the costs of the survey and irnmediHely take whatever remedial steps are reported as necessary to eliminate that risk or reduce it to an acceptable 1 eve 1 . If LESSEE disputes the CITY's selection of an engineer, then it shall promptly, and within ten (10) days oE such selection provide CITY with the names of three independent engineering consultants well versed and experienced in bulk fuel stocage and sales Eacilities and CITY may utilize anyone of the ~hree listed by LESSEE, or in the alternative, CITY may submit the names of two additional engineers. The parties then shall ~romptly meet and mulually agree on an acceptable engineer. If they are una hIe to agree within five days of the date LESSEE has submitted its list. then both parties shall promptly and '~onfidentially rank their choice o! engineers in the same manner Harbor Fuel Service Lease Page 21 0~i 691802, ,.,..' ....T ,::,T ";,, ~~.~~ 1.J~".:I~:.1 no representations or warranties as to any particular part or the whole of CITY's public facilities with respect to their fitness for the uses intended b~ LESSEE. and LESSEE has inspected those facilities and has examined the ~13ns and specificationR of those facilities under construction and has satisfied itself that the capacities of the Eacilities are sufficient for the intended uses by LESSEE. 8.5--TariEfs and Other Service fees. CITY shall "._. ...._.... have the right to make amendments to its tariffs, regulations and scheduled fees from time to time even if those adjustments shall cost LESSEE more for its operations or use of public facilities and CITY is free to do so; provided only that it does not pose any greater burden or higher rate upon LESSEE than upar any other similar user of the public facilities. CITY agrees to file for approval with the Federal Maritime Commission any required amendments to its existing tariff to facilitat:.) .3CC€SS to. J.FSSF.F.'s hydrants and headers. CITY agrees to not unreasonably refuse LESSFF's appl icatiorl for any required terminal use perm\ts as may be required by LESSEE to operate LESSEE's facilities. 8.6--Riqht to Prov\de Substitute_..~~ased Land, Development of the Seward Marine Industrial Center by the City of Seward is in its formative. beginning stages and both CITY and LESSEE see the possibility of a change in the final layout of all im~'ovements to the Seward Marine Industrial Center. Harbor Fuel Service Lease PagE! 23 22# 69t80€, 98:8t 6ti~0 . thereof, 1) the rentals required to be paid under this lease. or 2) ~11 sums due City including public fees or user charges for adJacent public facilities,'ll:dectr:ical, sewer or other service charges or 3) any taxes or assessments on real or personal property due either CITY or the Kenai Borough. b) Failure by LESSEE to observe, fulfill or perform any covenants. conditions or agreements on its part to be observed or [lerfOClned under this lease for a periOd of thirty (30) days after written notice specifying such failure. requesting that i~ be remedied. and stating that a notice of default has been given to LESSEE by CITY; provided. however. that if said default is such that it cannot be corrected within the applicable period, it shall not constitute an act af default if corrective action is instituted by LESSEE within the applicable period and diligently pursued until the default IS correctl:ld. . . c) The makin9 by LESSEE of an assiQnment for the benefit of creditors, the filing of a petition in bankruptcy by {,FSSFF, the adjudi.cation of LESSEE as insolvent or bankrupt, the petition or application by LESSEE to any tribunal for any receiver or any tr~stee for itself or for any substantial part of its property; or the commencement of any proceeding relating to LESSF.F. under any bankruptcy, insolvency, reorganization, arrangement or ceadjLlstrr.ent of debt law or stAtllte or si.mi lar law or statute of any jurisdiction, whether now or hereafter in Harbor Fuel Service Lease Page 25 r2# 69180:~L 8....."T'T".,. ,,"..d 0 ~ ,,' ~ \oj facility have and ret3in financial backing; 2) thnt operation of the facility be by a res~ectable operator; \:1 3) that the facilities be constructed and operated in accordance vrith applicable envlronmental laws and regulations and with! sensitivity for environmental pratecti0n. f) Any failure of LESSEE to fulfill its construction obligations under Sectlon 3.2 of this Lease. ARTICLE lQ,--REMEDtES FOR DFFAULT. Whenever 3n act of default by LESSEE shall have occurred. and any applicable period for giving notice and any opportunity to cure shall have expired, CITY shall have the fallowing rights and remedies (all in addition to any rights and remedies that may bE:: given to CITY by statut.e. common law or otherwise): a) To declare the term of this lease terminated, b) CITY may distrain for rent due any of LESSE~'s personal property which comes into CITY's ~ossession. This remedy shall include the right of CITY to dispose of property distrained in any commercially reasonable manner. It shall be conclusively pcesumed that compliance with provision of the Alaska Uniform Commercial Code (A.S. 45.09.504) with respect to sale of property shall be a commercially reasonable disposal. c) Collect any and all rents due or to become due from sub-tenants or other occupants af the leased land. " d) Recover an amount to be due immediately upon Harbor Fuel Service Lease Page 27 . . .' . 92i 69180€i 62:81 61/~0 later exercise by CITY of any or all other rights or remedies provided for in this le~se or now or thereafter eX1sting at law, or in equity or by statute or ~bhecwise. h) No delay or omission to exercise any right or power accruing following an act of default shall impair any such right or power or shall be con~trued to be a waiver thereof, but any such right and power may be exercised from time to time Ind as often as :nay be deemed expedient. ARTICLE ll.--REAL PROPERTY IMPROVEMF.NTS. All impcovem~nts constructed by LESSEE on the leased land or on easement~ to or from same, such as buildings, storage tanks, warehouses, conveyor system ditches, sewer lines, water lines, dikes or berms, and similar improvements, shall become the property of CITY upon the termination of this lease except that any other provisions of this lease to the contrary notwithstanding, LESS~E, upon termination of this le3se for any reason, may, bul need not, remove and retain title to all improvements including tradl:! fixtures and equipment from the leased land provided that LESSe~ sh!11 repair any dama~es to the leased land caused by such removal; provided, howaver, LESSEE shall be required to remove and cover any underground structures exposed by any cemnval or trade fixtures and equipment. LESSEE's unencumbered ptoperty interest in any trade fixtures 0r equi.pment not so removed by LESSEI:: shall pass to CITY. LESSEE shall return the leased land to its original condition plus any Harbor Fuel Service Lease Paqe 29 82# 69t80U 0,:8t 6t/~0 development of or operations on the leased land provided that the lender shall be subject to all Obligations of LESSEE under the terms of this lS3se agreemeQ~. Upon foreclosure or other assertion of its security interest, a lender may further assign, transfer, or dispose of its interests provided that any subsequent assignee, purchaser or transferee shall remain bound by each and every term of this lease agreement. l2.3--Assiqnme~t to Affiliate. LESSEE may not enter into any assignment, transfer, or any reorganization, sale of assets or stock, merger, or acquisition whereby more than fifty percent (50\) of the control of LESSEE is transferred to an entity other than one in turn owned or in which LESSEE's owners have more than fifty percent (50\) ownership or voting control without thp prior written permission af CITY. The intent of this provision is not to restrict LESSEE's ability to finance, re-finance or in other ways expand its operations, but rather to prevent responsibility for the operation and management of the facility being transferred to some other party or entity without CITY's consent which shall not be unreasonably withheld, ARTICLE 13.--INOEMNIFICATION. LESSEE agrees to defend, indemnify and hold CITY harmless from any and all claims for damages. including personal injuries and prop€cty damage arising out of or resulting from LESSEE's use of the leased land or the use of the leased land by L~SSEE's sub-lessees, agents or contractors or the public, except for Harbor Fuel Service Lease Page 31 . . . 08# 69t80E~ t~:St 6t/~0 Compensation Act, and warehouse and motOr vehicle insurance and any other insurance required under any permit 0' tariff OF the City of Seward, Alaska. The minimu. amounts and types of insurance provided by LESSF.E shall be subject to revision 1n accordance with standard insurance practices, in order to provide continuously throughout the term of this agreement and any extensions hereoE, a level of protection consonant with good business practice and accepted standards in the industry. Such factors as increases in the cost of living, inflationary pressures, and other considerations, shall be utilized in assessing whether the minimum insurance requirements should be increased. CITY may notify LESSEE of any requested increase in insurance coverages, All insurance policies shall provide for thirty (30) days' notice of cancellation and/or material change to be sent to CITY at the address designated in ARTICLE 34 of this lease, All such pOlicies shall be written by insurance companies legally alltho,ized or licensed to do business in the State of Alaska, and acceptable to CITY (Best's Rating B+ or better). LESSEE shall furnish CITY, on forms supplied by CITY, certificates evidencing that it has procured the insurance required herein prior to the occupancy oE the leased land O( operation by LESS~c. Nothing herein containen ~hall prevent LESSEE or ~ITY from placing and maintaining at CITY's ar 'L~SSEE's own individual cost and expense, additional or other Harbor Fuel Service Lease Page 33 28* 69t80SL 2~:8t 6t/~0 not, except for deductibles and/or damage to equipment and loss of use thereof sustained through damages arising from the sole negligence or willful acts or omissdons of CITY, its agents, employees or contractors. LESSEE shall also name CITY as an additional insured on the general liability insurance policy maintained by LESSEE as (~quired above, excluding coverage for claims resulting from CITY'R sole neQligence, ARTICI,F. 15. hCONDEMNAT ION, If all or any part of the leased land is condemned for a public use by any government agency or other duly authorized entity, CITY and LESSEE shall each make a claim aQainst the condemning or taking authority for the amount of any damage incurred by or done to them respectively as a result of the taking. Neither LESSEE nor CITY shall have any rights in or to any award made to the other by the condemning authority; provided, that 1n the event of a single award to CITY which includes specific damages for loss of LESSEE's leasehold inte,est, CITY shall transmit to LESSEE the amount of such specific damages so found, if any. If part, but not all, of the leased land is condemned for pUblic use LESSE~ shall make a good faith determination 8S to whethec oc not the taking of the part of the leased land designated for condemnation wlll prevent i~ from continuing to operate on the leased land. If LESSEE determines in good faith ,~hat the condemning of such part of the leased land will prevent Harbor Fuel Service Lease Page 35 . . . i'Si 691808i H:81 6t/Si0 days after receipt of such notice the other party shall give written notice to the first party specifying the name and address of a person desiinated to s~~ve as an arbitrator on its beha 1f ' If neither party has objected to the others designation within fifteen (15) days of the notice by the second party of its representative of an arhirrator, then the two chosen arbitrators (called the "consent panel") shalL seLect a third person agreeable to both to become the third member of the consent panel. The consent panel may utilize informal technique~ and hold informal hearing without reference ar adherence to the rules or procedures of the American Arbitration Association. Promptly and within thirty (30) days of concluding any ~roceeding the consent panel shall render its written decision. It is the intent of this subparagraph to provide for a ~peedy and inexpensive resolution of disputes provided the parties agree to such a procedure. b) Formal Arbitration. If either party objects, within fifteen (15) days of the second party's designation of an arbitrator to the others choice of an arbitrator pursuant to Paragraph (a) above, or the first party initially decides not to use the consent pan€l procedure, then the matter shall be pr0mptly referred to the Amerlcan Arbitration Associatian ln accordance with the th~n existing rules of the Amertcan 'Arbitration Association. Harbor Fuel Service Lease Page 37 92* 69t80Si ~t;.:8t 6t/:;13 condition at all timc~ all fire, pOllution and other pratective equipment. CITY may ~eriodicallYI inspect the leased land and facilities constructed thereon in order to ascertain the condition of the public portion of the premises but the exercise of this right shall not imply any obligation to do so nar any obligation to do so in any particular way. 17.2--Safety !ssues, CTTY may notify LESSEE in writing of any deficiencies in the performance of LESSEE's maintenance responsibilities as they retate to public health or safety and LESSE~ shall promptly within five (5) days of receipt of such notice advise CITY in writing of its proposed schedule for performance of any work necessary to cure such deficiencies. tf such deficiencies relate to the safety of LESSEE's operation such that the surrounding land and part facilities are exposed to risk, unnecessary potential hazards, or a risk to the public interest (as distinguished from a business risk), O( if CITY is not satisfied with the praposed sch~dute of repairs either because of the delays therein or the scope of the repairs, then CITY may engage an independent engineering consultant well-versed and experienced in bulk fuel storage and sales facilities who shall furnish to CrT~ a comprehensive survey and report for the purpQ~e of establishing both the need and urgency to perform such maintenance work, As '. soon as practicable fallowing receipt of said engineer's Harbor Fuel Service Lease Page 39 . . . 82# 69t80S~ H=St 6t/~0 any amendment thereof, that the same is in full force and effect as amended and stating the alllendment or amendments), that there are no d~faults existing (or, if there is any claimed default, stating the nature and extent thereof); and stating the dates to which the rent and other charges have been paid in advance. ARTICLE 19.--CONDITIONS AND COVENANTS, All the provisions of this lease shall be deemed as runnlng with the land, and shall be construed to be .condition~. as well as .covp-nants", as though the wards specifically expressing or imparting covenants and conditions were used in each separate provision. ARTIC!,F, 20.--NQ WAIVER OE' BREACH. No failure by either CTTY or LESSEE to insist upan the strict performance by the other of any term, covenant or conditlon of this lease or to exercise any right or remedy consequent upon a breach thereof, shall constitute a waiver of any such breach or of such ter.ms, covenant or condition. No waiver of any breach shall affect or alter this lease, but each and every term, covenant and condition of this lease shall continue in full force and effect with respect to any other then existing or subsequent br@ach. ARTICLE 21.--TTME OF ESSENCE. Time is of the essence of this len!';E'! and of each provision. Harbor Fuel Service Lease Page 41 e~# 69t80S, ~~:8t 6t/S\) relationship of principal and agent or of partnership or of joint venture or of any association between CITY and LESSEE; and neithet' the [oet:hod at: computation1of rent, nor any other provisions contained in this lease nar any acts of the parties, shall be deemed to create any relationship between CITY and LESSEE other than the relationship of lessee and lessor. ARTICLE 28 ,--INTERPRETATION. The language in all parts of this lease shall in all case~ be Simply construed according to its Eair meaning and not for or against CITY or LESSEE as both CITY and LESSEE have had th~ assistance of attorneys in drafting and reviewinq this lease. AR'I'ICT.F. 29.--NUM8ER AND GENDER. In this lease, the neuter gender includes the masculine and thp- feminine, and the singular number includes the plural: the word "person" includes corporation, partnership, firm or association wherever the context so requires. ARTICLF. 30.--MANDATORY AND PERMISSIVE. "Shall", "will" and "agrees" are mandatory: "may. is "ermissive. ARTICLE 31.--CAPTIONS, Captions of the paragraphs and subparagraphs of this lease are for convenience and reference only, and the words <::ontainE!d therein shall in no way be held to explain, mOdify, ampl i fy or aid in the interpretation, construction or meaning of the provision~ of this lease. Harbor Fuel Service Lease Page 43 2tolt 69t80SL 8to:Sl 61/~0 . IN WlTNESS WHEREOF, the parties hereto have set their hands and seals the date first hereinbefore set forth. " CITY: CITY OF SEWARD BY: City Manage-r ATTEST: City Cl@ck LESSEE: . BY: Its APPROVED AS TO FORM: HUGHES, THORSNESS, GANTZ, POWELL & BRUNDIN Attorneys for the City of Seward BY: Fred 8. Arvidson . Harbor Fuel Service Lea~e Page 45