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HomeMy WebLinkAboutRES2024-039 PH Assingment Gateway Texaco LeaseI Sponsored by: Sieminski Public Hearing Date: July 8, 2024I CITY OF SEWARD, ALASKA RESOLUTION 2024-039 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, APPROVING A LEASE ASSIGNMENT OF LEASE 2000-02 FROM THE ESTATE OF JAMES T. PRUITT, SUCCESSOR IN INTEREST TO JAMES T. PRUITT (LESSEE) TO HARBOR GATEWAY, INC. AN ALASKA DOMESTIC CORPORATION WHEREAS, the City is owner of real property described as Lot 1, Block 10, Seward Small Boat Harbor Subdivision, City of Seward, Alaska and recorded as Plat No. 2000-19 in the Seward Recording District, Third Judicial District, State of Alaska; and WHEREAS, this parcel was leased to James T. Pruitt in 2000 for a term of thirty years which expires on August 23, 2030, pursuant to the terms of that certain Restated Lease Agreement effective December 14, 2000 (“the Lease”); and WHEREAS, Article 2.5 of the Lease provided the Lessee an option to extend the term of the Lease for two (2) additional five (5) year terms subject to City Council approval; and I WHEREAS, James T. Pruitt passed away on October 29, 2022; and WHEREAS, Tracie Allene Williams as Personal Representative of the Lessee would like to fully assign the Lease to Harbor Gateway, Inc. (“Assignee”), an Alaska domestic corporation (“the Assignment”); and WHEREAS, Article 14 of the Lease provides that the Lessee shall have the right to assign the Lease upon the prior written consent of the City of Seward; and WHEREAS, the current policy of the City is to not extend or modify any leases unless they include an interim rental adjustment that allows the City to adjust rates annually; and WHEREAS, the Parties could not come to an agreement upon an amendment to the Lease effectuating the City’s policy on interim rental adjustments; and WHEREAS, the benefits of granting the Assignment outweigh allowing the Lease to continue under the current Lessee (Estate of James T. Pruitt); and WHEREAS, the City Council at the time Assignee requests to utilize the option to extend may decide against an extension pursuant to Article 2.5(d) of the Lease; and WHEREAS, granting the Assignment is in the public interest and consistent with the City’s Comprehensive Plan and the Strategic Plan.I CITY OF SEWARD, ALASKA RESOLUTION 2024-039 Page 2 of 2 I NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA that: Section 1. The City Manager is authorized to consent to the Assignment in substantially the form attached hereto which is found to be in the public’s interest. Section 2. This resolution shall take effect 30 days from the date and posting of adoption. PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 8th day of July 2024. THE CITY OF SEWARD, ALASKA Sue McClure, Mayor AYES: NOES: ABSENT: ABSTAIN: Barnwell, Wells, Finch, Osenga, Calhoon, Crites, McClure None None None I ATTEST: Kris Peck City Clerk (City Seal) % I S^L ) I City Council Agenda Statement Meeting Date: July 8, 2024 To: City Council Through: Kat Sorensen, City Manager From: Tony Sieminski, Harbormaster Subject: Resolution 2024-039: Approving a Lease Assignment of Lease 2000-02 from the Estate of James T. Pruitt, Successor in Interest to James T. Pruit (Lessee) to Harbor Gateway, Inc. an Alaska Domestic Corporation Background and justification: Jim Pruitt (Lessee) has leased and operated Gateway Texaco since May 1, 1984, and has made many improvements to the property. The latest council approved Amendment was effective December 14, 2000, referred to as 2000-02. On October 29, 2022, Jim Pruitt passed away. The City was contacted on July 11, 2023, by Tracie Allene Williams (Executor) and asked to consent to remove Jim Pruitt from the lease and add Gateway Harbor, Inc. as the sole lessee. The current lease L2000-02 will expire on August 23, 2030. Originally, there were discussions with the management of Gateway Harbor, Inc. (Tracie Allene Williams and Craig Thomas Pruitt) on a lease amendment and extension. The amendment would have provided for interim rental adjustments to adjust rental rates annually and would have added a twenty-three (23) year lease extension which would make the lease term end date September 30, 2053. The interim rental adjustment is a standard provision contained in most new and renegotiated leases with the City. Ultimately, the parties were not able to come to an agreement on the amendment. While the current City policy is to have more frequent rental adjustments, having one definitive lessee, rather than the Estate of Jim Pruitt, deceased, presents less contractual risk to the City. Options to extend the term under the Lease require Council approval. Due to the relatively short remaining term (six years) and the need for a more definitive lessee, management determined to recommend approval of the Assignment to the Council. In 2030, at the time of the renewal, if the City’s preference for leases with interim rental adjustments remains, the Council can elect not to exercise the contract option and terminate the lease. Comprehensive and Strategic Plan Consistency Information This legislation is consistent with (citation listed): Comprehensive Plan: Attract new business and industry to the greater Seward area. Strategic Plan: Attract New Industry: Develop an aggressive marketing campaign, which highlights the diverse resources, and quality of life that make Seward a great place to live and establish a business or industry. Other: Certification of Funds Total amount of funds listed in this legislation: $ 0 This legislation (): Creates revenue in the amount of: $ Creates expenditure in amount of: $ Creates a savings in the amount of: $  Has no fiscal impact Funds are (): Budgeted Line item(s): Not budgeted Not applicable Fund Balance Information Affected Fund ():  General SMIC Electric Wastewater  Boat Harbor Parking Water Healthcare Motor Pool Other Note: amounts are unaudited Available Fund Balance $ Finance Director Signature: Attorney Review  Yes Attorney Signature: /s/ Kody P. George Not applicable Comments: Administration Recommendation  Adopt Resolution Other: CONSENT TO ASSIGNMENT OF LEASE Lease 2000-02 RECITALS A. The City and the Estate of James Thomas Pruit as successor in interest to James Pruitt are parties to that certain Lease Agreement RE-84-043 dated as of May 1, 1984 and Amended effective December 14, 2000 by that certain Restated Lease Agreement, as evidenced by that certain Memorandum of Lease recorded April 4, 2004 as Serial No. 2004-001074-0 ("the Lease"). B. The legal description of the leased property is: Lot 1, Block 10, Seward Small Boat Harbor Subdivision, City of Seward, Alaska, Plat No. 2000-19, Seward Recording District, Third Judicial District, State of Alaska C. The Estate of James Thomas Pruitt, through Personal Representative Tracie Allene Williams (Exhibit A Certificate of Death dated October 29, 2022 and Letters of Administration dated November 15, 2022) has asked the City to consent to the assignment of all of the Estate's right, title, and interest in the Lease to Harbor Gateway, Inc. and has signed a proposed Assignment of Leasehold Interest dated March 22, 2024 (Exhibit B Assignment of Leasehold Interest) for the City's approval and consent. CONSENT TO ASSIGNMENT Upon the effectiveness of Resolution 2024- approved by the City Council (Exhibit C), the City of Seward and pursuant to Article 14 of the Lease, the City hereby consents to the assignment of the Estate of James Thomas Pruitt's right, title, and interest in and to the Lease to Harbor Gateway, Inc. and its assumption of all of the obligations of the Estate of James Thomas Pruitt dated March 22, 2024 (the assignment and assumption of the Agreement is collectively referred to herein as the "Assignment"). Following the Assignment, the Lease shall continue in full force and effect with Harbor Gateway, Inc. substituted for the Estate of James Pruitt successor in interest to James Pruitt, as applicable. The undersigned has executed this Consent to Assignment as of the date set forth on the signature page below. Page 1 of 2 [SIGNATURE PAGE] CITY OF SEWARD Date: By: Kathleen Sorenson, City Manager ATTEST: Kris Peck, City Clerk STATE OF ALASKA ) )ss THIRD JUDICIAL DISTRICT ) THIS IS TO CERTIFY that on this day of 2024, before me, the undersigned, a Notary Public in and for the State of Alaska, personally appeared Kathleen Sorenson, known to me and to me known to be the City Manager of the City of Seward, Alaska, and authorized to execute documents on its behalf, and is the individual named in and who executed the foregoing document on behalf of the City of Seward for the uses and purposes therein set forth. WITNESS my hand and notarial seal the day and year first hereinabove written. Notary Public in and for Alaska My Commission Expires: Page 2 of 2 Chelsea Ray Rieldcola Alaska Bar Assoc. Member 91406061 FOLEY&PEARS ON, P.C. 4300 B Street, Suite 400 Anchorage, AK 99503 (907) 522-2272 chelsea@foleypearson.com IN THE SUPERIOR COURT FOR THE STATE OF ALASKA THIRD JUDICIAL DISTRICT AT ANCHORAGE In the Matter of the Estate of 0 !a James Thomas Pruitt, ca C4 t3 Deceased. • Case No. 3 AN-� 6�7 0/-,2-PR 0 LETTERS OF ADMINISTRATION The Statement of Informal Appointment of Personal Representative having been signed by the Probate Master, Tracie A. Williams is appointed Personal Representative of 2 the estate. Mf 'N®r MW ow fi Date Probate 9*"ster of NdF 4 *4[PF >W . A Estate of James Thomas Pruitt 3 AN�- a I q�-P R Letters of Administration Page I of 3 ACCEPTANCE 1, Tracie A. Williams, accept the duties and promise to perfonn the duties as required by law of the office of Personal Representative of the Estate of James Thomas Pruitt. I acknowled my duty as Personal Representative to: ge (a) take possession and control of deceden-Vs property as required by AS 13.16.380, determine the liabilities of the estate, and complew an inventory as required by AS 13.16.3 65; (b) provide notice to heirs and devisees as required by AS 13.16,360, except as provided by AS 13.16.690; (c) provide notice to creditors as required by law, publish notice when required, and review and either accept or reject claims as required by AS 13.16.455-.515; (d) advise the court in Writing of my address and telephone number as required tn by Probate Rule 8; 0 0' U (e) pay homestead, exempt property and family allowances as required by AS < Cq 13.12.401-,405 costs of admini*stration and other claims as required by AS 13.16A70, and distribute the assets of the estate; and 0 (f) close the estate as soon as appropn*ate as required by AS 13-16.620-.670. I will file any required bond. Date Traci . Williams,5 Personal Representative Address: I . Box 121 Seward,A- K 99664 Phone: (907) 362-2209 Estate of Jamcs Thomas Pruitt 3AN-22 f2"-)q�PR Letters of Administration Page 2 of 3 VERIFICATION STATE OF AL ASK A ) SS. ITHR-D JUDICIAL DISTRICT Trade A. Williams, being first duly swom upon oath, deposes and states as follows: I have reviewcd the LETTERS OF ADMINISTRATION and believe the same to be true. Trade A. Williams SUBSCRIBED AND SWORN to before me this day of 0 k r al 0 z Ir"11 U 1 2022, at Anchorage, Alaska. S1 All L'vs I,%"A Nd��RY PU Crystal u Morris 4.2023 0 Notary PAlic in and for Ala��a My Commission Expires: lip Estate of James Th onias Pruitt 3AN-2t��`- �,Z-� c 01- / Letters of Administration Page 3 of 3 ASSIGNMENT OF LEASEHOLD INTEREST THIS ASSIGNMENT, entered into between THE ESTATE OF JAMES THOMAS PRUITT, AKA JAMES T. PRUITT, c/o TRACIE A. WILLIAMS, Personal Representative, P.O. Box 944, Seward, Alaska, 99664, assigns its right, title, and interest in the Lease Agreement (hereinafter referred to as the "Lease" ) entered into on December 14, 2000 (the "Effective Date" ) , amended April 22, 2004 ("Amendment" ) . with the City of Seward, hereinafter referred to as the "City" , to HARBOR GATEWAY, INC. , an Alaska corporation, whose address is P.O. Box 944, Seward, Alaska, 99664, and agree as follows : RECITALS A. TRACIE A. WILLIAMS was appointed Personal Representative of the THE ESTATE OF JAMES THOMAS PRUITT, on November 15, 2022, and is the duly appointed qualified and acting Personal Representative of the above-named estate, having been appointed Personal Representative in informal proceedings in the Anchorage Superior Court, filed under Case No . 3AN-22-02792PR. The THE ESTATE OF JAMES THOMAS PRUITT is the current Lessee, referenced in the Lease, involving the following described real property: LOT ONE (1) . BLOCK TEN (10) . SEWARD SMALL HARBOR SUBDIVISION, according to Plat 2000-19, filed in the Seward Recording District, Third Judicial District, State of Alaska. B. A complete, accurate, and unaltered copy of the Lease referenced in Recital A, along with the recorded Amendment are attached to this document and incorporated herein as though fully set forth. C. Pursuant to Paragraph 14 . 3 of the Lease, Assignment to Affiliate, the THE ESTATE OF JAMES THOMAS PRUITT has agreed to assign to HARBOR GATEWAY, INC. , all right, title and interest as Lessee in the Lease . HARBOR GATEWAY, INC. has agreed to assume the duties and responsibilities of said Lease . D. The parties formalize their agreement as follows : Page 1 of 3 AGREEMENT 1. THE ESTATE OF JAMES THOMAS PRUITT agrees to and does assign to EA OR GATEW&Y, INC. , all right, title, and interest of THE ESTATE OF JAMES THGMAS PRUITT, as Lessee of the Lease, pursuant and subject to Paragraph 1 .3 of the Lease. 2-4w EARBGR GATEWAY, INC. agrees to and does assume all duties and responsibilities f Lessee of the Lease. HARBOR GATEWAY, INC. , as Lessee, agrees to protect, indemnify and defend the THE ESTATE or i- S TRUMA.S RUITT, from the performance of the duties and obligations of the Lease. 3. This agreement shall be winding upon and inure to the benefit of heirs, personal representatives, successors and assigns f the respective parties,. The principles of good faith shall govern the terms of this agreement in all respects, and the parties shall fully cooperate to do all things ,necessary and appropriate t accomplish the purposes, terms and objectives of this agreement. Not by way of limiting the generality of the foregoing in any way, the parties shall execute all documents, and perform all things appropriate to effectuate the purposes, forms and objects of this agreement. IN WITNESS , the said ssig r has hereunto set its hand and seal this g-1 day of2024,3Z SIGNATURE OF ASSIGNOR: EST ESTA E AME TIG� PRUITT A TR 1 IE A. WILLIAI rs nal Representative. IN WITNESS , the sa ssign has hru set its hand and seal this i day f , 2202 SIGNATURE OF ASSIGNEE �1 TRIE WILLIAMS,, President Page 2 of STATE OF ALA :SS THIRD JUDICIAL DISTRICT) THIS IS TO C3CRTIFY that on this day of Wrc/tI4... 2024, before me the undersigned Notary Public in and for the State of Alaska, personally appeared TRACIE WILLIAMS known to me to be the person named in the foregoing instrument, in her capacity as Personal Representative of THE ESTATE OF JAMES THOMAS PR ITT and President of HARBOR GATEWAY, INC. and acknowledged tc me that she executed the same freely and voluntarily for the uses and purposes therein contained. IN WITNRSS HER OF, I have hereunto set my hand and seal the day and year first here inabove written. NOTXA? PUBLIC, -,�a�te of�Alaska oon My Commissicn Expir l 1 XV A. d" 4, PUBLIC : 404,30 V'- 4 1�111t OF N\ �8 Page 3 of 3 RESTATED LEASE AGREEMENT between City �eward, Alaska and James T. Pruitt Effective Date:December 14,2000 TABLE OF CONTENTS ARTICLE 1 LEASED LAND Page 2 1.1 Description of Leased Land Page 2 1.2 Covenant of Quiet Enjoyment;Warranty of Title Page 2 1.3 Survey of Leased Land Page 2 1.4 Property Accepted"As-is" Page 2 1.5 Permits Page 3 1.6 Platting Page 3 ARTICLE 2 LEASE TERM Page 4 2.1 Lease Term Page 4 2.2 Interim Right to Possession Page 4 2.3 Lease Subject to Referendum Page 4 2.4 Termination Page 4 2.5 Options to Extend Page 4 1.'aTICLE 3-RENTAL RATE Page 5 3.1 Initial Rental Rate Page 5 3.2 Rental Adjustments Page 5 3.3 Procedure for Rental Adjustment Page 5 3.4 Effect of Late Appraisal by CITY Page 6 3.5 Appraisal by LESSEE Page 6 3.6 Effective Date of Adjusted Rental Rate Page 7 3.7 Late Payment Charge Page 7 ARTICLE 4-USE OF LEASED LAND Page 7 4.1 Use of Leased Land Page 7 4.2 Obligations of LESSEE Page 7 4.3 Adequacy of Public Facilities Page 8 4.4 Time for Payment of Utilities and Taxes Page 9 4.5 Other Uses Page 9 ARTICLE 5-UTILITIES AND RIGHTS OF ACCESS Page 9 5.1 Utilities Page 9 5.2 Easements Page 10 ARTICLE 6-CONSTRUCTION BY LESSEE Page 10 6.1 Improvements on Leased Land Page 10 6.2 City Review of Construction Page 11 ARTICLE 7-RETURN OF LEASED LAND/SITE CONDITIONS Page 12 7.1 Return of Leased Land in Original Condition Page 12 Page i 7.2 Return of Leased Land in Different Condition Page 12 ARTICLE 8-FORCE MAJEURE Page 12 ARTICLE 9-CITY ACTS OF DEFAULT Page 12 9.1 Page 12 9.2 Page 12 ARTICLE 10-REMEDIES FOR CITY'S ACTS OF DEFAULT Page 13 10.1 Page 13 10.2 Page 13 10.3 Page 13 10.4 Page 13 ARTICLE 11-LESSEE'S ACTS OF DEFAULT Page 14 11.1 Page 14 11.2 Page 14 11.3 Page 14 11.4 Page 14 11.5 Page 15 ARTICLE 12-REMEDIES FOR DEFAULT BY LESSEE Page 15 12.1 Page 15 12.2 Page 15 12.3 Page 15 12.4 Page 16 12.5 Page 16 12.6 Page 16 12.7 Page 16 ARTICLE 13-TITLE TO IMPROVEMENTS INSTALLED BY LESSEE Page 16 13.1 Real Property Improvements Page 16 13.2 Personal Property Page 16 ARTICLE 14-ASSIGNMENT OR SUBLEASE Page 17 14.1 Assignment of Lease or Subleasing Page 17 14.2 Assignment of Lease for Security Page 18 14.3 Assignment to Affiliate Page 18 ARTICLE 15-LESSEE'S DUTY TO DEFEND/INDEMNIFY Page 19 ARTICLE 16-CITY'S DUTY TO DEFEND/INDEMNIFY Page 19 Page ii ARTICLE 17-INSURANCE Page 19 17.1 Minimum Insurance Requirements Page 19 17.2 Subrogation Rights Waived Page 20 ARTICLE 18-CONDEMNATION Page 21 ARTICLE 19-ARBITRATION Page 21 19.1 Arbitration Page 21 ARTICLE 20-MAINTENANCE AND REPAIRS Page 22 20.1 Normal Maintenance Page 22 20.2 Safety Issues Page 23 20.3 Cost of Repairs Page 23 ARTICLE 21-ENVIRONMENTAL CONCERNS Page 24 21.1 Hazardous Materials Page 24 21.2 P erm-its and Rep orti ng Page 26 ARTICLE 22-ESTOPPEL CERTIFICATES Page 27 ARTICLE 23-CONDITIONS AND COVENANTS Page 27 ARTICLE 24-NO WAIVER OF BREACH Page 27 ARTICLE 25-TIME OF THE ESSENCE Page 27 ARTICLE 26-COMPUTATION OF TIME Page 27 ARTICLE 27-SUCCESSORS IN INTEREST Page 27 ARTICLE 28-ENTIRE AGREEMENT Page 28 ARTICLE 29-GOVERNING LAW Page 28 ARTICLE 30-PARTIAL INVALIDITY Page 28 ARTICLE 31-RELATIONSHIP OF PARTIES Page 28 ARTICLE 32-INTERPRETATION Page 28 ARTICLE 33-NUMBER AND GENDER Page 28 Page iii ARTICLE 34-MANDATORY AND PERMISSIVE Page 28 ARTICLE 35-CAPTIONS Page 29 ARTICLE 36-AMENDMENT Page 29 ARTICLE 37-NOTICES Page 29 ARTICLE 38-FIRE PROTECTION Page 29 Page iv e RESTATED LEASE AGREEMENT THIS RESTATED LEASE AGREEMENT(the"LEASE")is made by and between the CITY OF SEWARD(the"CITY"),a municipal corporation located in the Kenai Peninsula Borough, State of Alaska,whose mailing address is PO Box 167,Seward,Alaska 99664 and JAMES T. PRUITT(the"LESSEE"),dba Gateway Texaco Liquor and Food Mart,whose mailing address is Post Office Box 944,Seward,Alaska,99664. WHEREAS,LESSEE has indicated his desire to continue to lease a parcel of land located at a portion of former Tract A,North Harbor Subdivision,Seward,Alaska; WHEREAS,the prior lease,Lease Number RE-84-043,has been in effect since May 1, 1984; WHEREAS,the City Council adopted Resolution 2000-076 approving a long term lease with James T.Pruitt for an extended lease term to take advantage of improved financing arrangements for improvements completed on the lease site,to update the lease agreement using the current form?,terms and conditions applicable to new CITY leases,anti to establish a new legal description of the lease site by completing and recording a plat of the lease site; WHEREAS,the City Council adopted Resolution 2000-114 approving the addition to the lease site of a strip of land ten(10)feet in width along the south boundary of the North Harbor Parking Lot,formerly Tract A,Block 1,North Harbor Subdivision;and approving certain amendments to the lease approved by Resolution 2000-076 and permitting the amended terms to be included in a restatement of the LEASE; WHEREAS,the City Council of CITY has determined that a lease of the Leased Land to LESSEE for the purposes described herein would be in the public interest; and WHEREAS,it is the intent of this LEASE to transfer from CITY to LESSEE the entire burden of compliance with present or future environmental regulations or controls with respect to LESSEE's operations on the Leased Land during the lease term. NOW THEREFORE,for and in consideration of the mutual promises and covenants hereinafter contained,the parties hereto agree as follows: City of Seward/Restated Lease J:IDOCS143374106\RestatedwVJ$pruitt lease4-01.wpd Page 1 RESTATEMENT OF LEASE This Restated Lease Agreement,herein referred to as the"LEASE,"supersedes and replaces that certain lease agreement between the parties dated August 24,2000 and that certain lease amendment no. 1 dated October 30,2000. This LEASE includes a restatement of the lease agreement approved by City Council Resolution 2000-076 together with the amended lease terms approved by City Council Resolution 2000-114. The purpose of restating the LEASE is(1)to terminate the prior lease known as Lease Number RE-84-043;(2)to provide an effective date for this LEASE;(3)to incorporate the amended lease terms;and(4)to incorporate as the description of the Leased Land,the lease site as platted on December 13,2000. This LEASE shall hereafter be the lease agreement described in City Council Resolutions 2000-76 and 2000-114. ARTICLE 1 LEASED LAND 1.1 Description of Leased Land. The Leased Land is located in the City of Seward,Alaska, and described as follows(herein referred to as the"Lease Land"): Lot One(1),Block Ten(10),SEWARD SMALL BOAT HARBOR SUBDIVISION,according to Plat 2000-19,filed in the Seward Recording District,Third Judicial District,State of Alaska. 1.2 Covenant of Quiet Enjoyment;Warranty of Title. Subject to the encumbrances as of the date hereof,any reasonable restrictions imposed on the Leased Land as part of filing of a plat by CITY,and the provisions of this LEASE,CITY hereby covenants and warrants that: a) LESSEE shall have the quiet enjoyment and possession of the Leased Land for the full term of this LEASE; b) CITY owns the Leased Land in fee,and,subject to the conditions described in Sections 2.2 and 2.3 herein,is fully empowered to enter into this Lease;and c) CITY is unaware of any prior conflicting use of the Leased Land that would adversely affect LESSEE's intended use of the subject parcel. 1.3 Survey of Leased Land. Following the effective date of the Resolution approving this LEASE,CITY,at its sole cost,caused the Leased Land to be surveyed and platted by a land surveyor registered in the State of Alaska. The plat including the Leased Land was completed and recorded on December 13,2000 and is attached to this LEASE as Exhibit A and shall be incorporated herein by reference. 1.4 Property Accepted"As-is". LESSEE acknowledges that it has inspected the Leased Land and accepts the same"as-is"and without reliance on any expressed or implied City of Seward/Restated Lease J:\DOCS\43374106\RestatedWVJBpruitt lease4-01.wpd Page 2 representations or warranties of CITY(other than the representations in Section 1.2 hereof),or agents of CITY,as to the actual physical condition or characteristics thereof and the legal description or depiction of the Leased Land in Section 1.1 or Exhibit A hereto. LESSEE represents that he is in full compliance of all terms and conditions, expressed and implied,under the prior lease,Lease Number RE 84-043. 1.5 Permits. LESSEE,at his sole cost,shall obtain all permits necessary to the construction and operation of his facilities on the Leased Land. CITY may from time to time,upon request of LESSEE,execute such documents,petitions,applications and authorizations as may be necessary,as the underlying fee owner,to file with an agency or public body responsible therefor an application for conditional use permits,zoning and re-zoning, tentative and final tract approval,or precise plan approval that may be required for the lawful construction and operation of the facilities of LESSEE permitted on the Leased Land by the terms of this LEASE. However,nothing in this Section shall be construed as requiring CITY to support or approve any such application or permit requests. If the agency or public body responsible to approve or grant such application or permit request is a City of Seward agency,department,or board,LESSEE shall follow all City of Seward procedures;the same as any other applicant making similar requests of the City of Seward,according to the Charter,ordinances,resolutions,or any regulation,rules or procedures of the City of Seward. Nothing in this Section imposes any duty or responsibility on CITY to assist LESSEE in obtaining any other permits or approvals, including without limitation those required by the U.S.Army Corps of Engineers(e.g., wetland fill permits),the Environmental Protection Agency(e.g.,Clean Air Act permits), the Alaska Department of Public Facilities and Transportation(e.g.,right-of-way permits),the Alaska Department of Fish and Game,and the Alaska Department of Environmental Conservation. 1.6 Platting. In the event CITY elects to replat,CITY agrees to include the Leased Land in such replat in accordance with the description in Section 1.1 hereof and Exhibit A hereto. If LESSEE requests a replat of the Leased Land following execution of the LEASE, CITY shall assist LESSEE in the preparation and filing of the replat,and LESSEE shall reimburse CITY for CITY's costs in assisting with the preparation and filing of the replat. LESSEE agrees to sign the plat and any other documents necessary to complete the platting or replatting of any area including all or a portion of the Leased Land. LESSEE shall accept reasonable restrictions,easements,or plat notes as may be required by CITY or other governmental authorities as a condition to filing the plat of the Leased Land or the plat of CITY-owned real property adjacent to the Leased Land. City of Seward/Restated Lease J:\DOCS\43374106\RestatedWJBpruitt lease4-01.wpd Page 3 ARTICLE 2 LEASE TERM 2.1 Lease Term. The term of this LEASE(the"Lease Term")shall be in accordance with CITY's authorization Resolution No.2000-076(the"Resolution"). The Lease Term shall commence with the signing of the Lease by both parties following the filing of a plat of the Leased Land and that date shall be the effective date of this LEASE. The Plat including the Leased Land was recorded December 13,2000,and for all purposes under this LEASE, 12:01 a.m.,December 14,2000,shall be deemed the effective date(the "Effective Date")of this LEASE. The Lease Term shall run for approximately thirty(30) years from the effective date of the Resolution,ending at midnight on August 23,2030. 2.2 Interim Right to Possession. LESSEE may remain on the Leased Land under the terms of the prior Lease,Lease Number RE 84-048,pending platting of the Leased Land and execution of this LEASE. 2.3 Lease Subject to Referendum. LESSEE understands and assumes the risk that under the Charter and Code of CITY this LEASE may be voided by referendum. The revocable license granted in Section 2.2 shall not affect or reduce the right of the voters of the City of Seward to reject this LEASE by referendum. LESSEE agrees that if the Resolution approving this LEASE is the subject of a referendum petition filed with the Clerk of CITY during the applicable thirty(30)day term,LESSEE shall have no rights under this LEASE unless and until the Resolution is approved by the voters of the City of Seward, and LESSEE shall not be entitled to any damages or any other relief against CITY in the event the Resolution is not so approved. Should this LEASE be voided by referendum, the prior Lease,Lease Number RE-84-043,shall remain in effect without change for the term specified therein. 2.4 Termination.Lease Number RE-84-043 shall terminate upon the Effective Date of this LEASE. Notwithstanding the foregoing,the indemnification provision(Article X of Lease No.RE 84-043)of the prior lease shall survive termination of the prior lease together with any other provisions of the prior lease which are expressly stated therein to survive termination. The execution of this LEASE shall not release or limit LESSEE's responsibility or liability for any environmental pollution liability as a lessee of the Leased Land under the prior lease. This LEASE shall terminate approximately thirty(30) years from the effective date of the Resolution,that is to say at midnight on August 23, 2030.Except for extensions as provided in Section 2.5 below,this LEASE is not subject to renewal. 2.5 Options to Extend. LESSEE shall have the right to extend the term of this LEASE for two(2)additional five(5)year periods(cumulative extensions not to exceed ten(10) years),provided that: City of Seward/Restated Lease J:\DOCS1433741061RestatedwVJBpruitt lease4-01.wpd Page 4 a) LESSEE exercises any applicable option to extend at least one hundred and eighty (180)days prior to the expiration of the then current lease term; b) LESSEE is not in default under any term or provision of this LEASE; c) LESSEE shall exercise its options to extend by sending written notice thereof in accordance with the provisions of Article 37 of this LEASE;and d) The City Council of CITY,at the time each option to extend is exercised, approves the extension by resolution or ordinance. ARTICLE 3-RENTAL RATE 3.1 Initial Rental Rate. Commencing on the Effective Date of this LEASE and through June 30,2005,the annual rental rate for the Leased Land shall be set at$19,741. (CITY and LESSEE agree to use 18,078 square feet for purposes of computing the initial annual rental rate,even if the actual area of the Leased Land is more or less. If a survey later shows the area to be different from the agreed size;the new measurement will be used for computing subsequent rental payments. Past rental payments will not be refunded,in full or part,if a subsequent survey depicts an area measurement less than 18,078 square feet.) Rent shall be payable quarterly in advance upon the Effective Date of this.Lease(prorated for the balance of the current quarter)and thereafter on or before the 20th day of the month beginning each calendar quarter:January 20,April 20,July 20 and October 20. The amount of each quarterly payment shall be one-quarter of the annual rental rate as initially established or later adjusted under this Article 3. 3.2 Rental Adjustments. The annual rental payment shall be adjusted on July 1,2005,and on the same date every five years thereafter(each a"Rental Adjustment Date"). The adjusted annual rental payment to be paid under the terms of this Lease shall be the appraised fair market rental value(the"Fair Market Rental Value")of the Leased Land at the highest and best use of the Leased Land. The highest and best use of the Leased Land shall be determined without regard to LESSEE's intended or actual use of the Leased Land unless that use is coincidentally the highest and best use of the Leased Land. CITY shall complete such appraisal and deliver a copy of the appraisal report to LESSEE not less than ninety(90)days before each Rental Adjustment Date. 3.3 Procedure for Rental Adjustment. To adjust the rent as of any successive Rental Adjustment Date,CITY shall,at its own expense,retain an independent MAI-certified appraiser,who shall determine the"Fair Market Rental Value"of the Leased Land in accordance with this Article 3,exclusive of improvements placed thereon by LESSEE but inclusive of all improvements made by CITY(including those made before or subsequent to this LEASE). The appraiser's report shall be delivered to LESSEE not less than ninety (90)days before the Rental Adjustment Date. The appraiser's determination of Fair City of Seward/Restated Lease J:\DOCS\43374106\RestatedWJBpruitt lease4-01.wpd Page 5 Market Rental Value of the Leased Land shall constitute a final binding determination of the Fair Market Rental Value and the adjusted annual rental rate until the next Rental Adjustment Date,unless LESSEE objects to CITY's appraiser's determination of the Fair Market Rental Value. In that case,LESSEE shall give written notice to CITY of its objection within thirty(30)days of receipt of the appraiser's report,and LESSEE shall then engage an independent MAI-certified appraiser at LESSEE's expense to make an appraisal of the Fair Market Rental Value in accordance with this Article 3. If LESSEE'S appraisal determines a Fair Market Rental Value that varies from that determined by CITY'S appraisal by no more than twenty percent(20%),then the adjusted rental rate shall be the average of the rental rates determined by the two appraisals. If LESSEES appraisal determines a Fair Market Rental Value that varies from CITY'S appraisal by more than twenty percent(20%),then,unless CITY and LESSEE agree on a rate themselves,the adjusted annual rental rate of the Leased Land shall be determined in accordance with the arbitration provisions contained in Article 19 of this LEASE. 3.4 Effect of Late Appraisal by CITY. If,for any reason,CITY does not complete the appraisal or deliver a copy of the appraisal report to LESSEE ninety(90)days before the Rental Adjustment Date,CITY may proceed to complete the appraisal or deliver a copy of the appraisal report to LESSEE at any time thereafter. However,any such adjusted annual rental rate shall not be effective until the quarterly payment due date immediately following the date CITY delivers the appraisal report to LESSEE. 3.5 Appraisal by LESSEE. If for any particular Rental Adjustment Date,CITY fails to obtain an appraisal of the Fair Market Rental Value or fails to deliver the appraisal report to the LESSEE by the Rental Adjustment Date,LESSEE may engage an independent MAI- certified appraiser at LESSEE's expense to make an appraisal under the terms of this Article 3 and submit a copy to CITY before the next quarterly rental payment due date. However,LESSEE must notify CITY in writing within thirty(30)days following the Rental Adjustment Date of LESSEE's election to obtain an appraisal. If CITY objects to LESSEES appraiser's determination of the Fair Market Rental Value,CITY shall give written notice to LESSEE of its objection within thirty(30)days of receipt of the appraiser's report;and CITY shall then engage an independent MAI-certified appraiser at CITY'S expense to make an appraisal of the Fair Market Rental Value as of the Rental Adjustment Date and in accordance with this Article 3. If the CITY's appraisal determines a Fair Market Rental Value that varies from that determined by LES SEE'S appraisal by no more than twenty percent(20%),then the adjusted rental rate shall be the average of the rental rates determined by the two appraisals. If the CITY'S appraisal determines a Fair Market Rental Value that varies from LESSEES appraisal by more than twenty percent(20%),then,unless CITY and LESSEE agree on a rate themselves,the adjusted annual rental rate of the Leased Land shall be determined in accordance with the arbitration provisions contained in Article 19 of this LEASE. City of Seward/Restated Lease Page 6 J:\DOCS1433741061RestatedWVJBpruitt lease4-01.wpd g 3.6 Effective Date of Adjusted Rental Rate. The adjusted annual rental rate established by this Article 3 shall apply as of the Rental Adjustment Date if CITY provided a copy of the appraisal report to LESSEE no-later than ninety(90)days before the Rental Adjustment Date. If the adjusted annual rental rate is based on CITY'S late appraisal or late delivery of the appraisal report to LESSEE,the adjusted rental rate shall be effective beginning with the quarterly rental payment due date immediately following the date the CITY delivers the appraisal report to LESSEE. Notwithstanding the above,the exercise by either CITY or LESSEE of the objection procedure relating to rental adjustment described in this Article 3 shall not postpone LESSEE's obligation to pay rent at the rate established by CITY. LESSEE shall pay the amount of rent as established or adjusted by CITY until the question of objection to the rental rate is finally resolved. At such time the objection to the rental rate is resolved,an appropriate credit or adjustment shall be made retroactive to the date the new rental rate was established by CITY or in cases where CITY failed to obtain an appraisal or deliver the appraisal report to the LESSEE,to the Rental Adjustment Date. 3.7 Late Payment Charge. Rental payments not received by the due date shall bear interest until paid at a_rate of 10.5%per antrum;or the maximum_rate permitted under Alaska law,whichever is less,plus a flat monthly late fee of$2.50,or such amount as may be established from time to time by CITY ordinance or resolution and relating to late fees for CITY leases generally. ARTICLE 4-USE OF LEASED LAND 4.1 Use of Leased Land. CITY has limited land available for lease. Use of the Leased Land by LESSEE has been determined by the City Council of CITY to be in the public interest. 4.2 Obligations of LESSEE. LESSEE may use the Leased Land only in accordance with applicable CITY zoning code provisions and provided the following conditions are met: a) The Leased Land is to be completely cleaned and restored to its original condition, that is,the condition existing prior to Lease Number RE 84-043 and any prior leases of any portion of the Leased Land or in better condition upon termination of this LEASE. b) LESSEE agrees to prohibit the use,keeping,storage,or disposal of Hazardous Materials on the Leased Land except as permitted in Article 21 of this LEASE. c) LESSEE shall not use the Leased Land in any manner or construct any facilities thereon which would inhibit the use of adjacent or other lands. d) Prior to the Effective Date of this LEASE,LESSEE shall provide City an as-built survey depicting all existing improvements to the Leased Land. City of Seward/Restated Lease J:\DOCS\43374106\RestatedYNfBpruitt lease4-01.wpd Page 7 e) LESSEE shall either(1)remove,at LESSEE'S own expense,the encroaching free-standing Texaco sign,curbing and other items that encroach on the State of Alaska right-of-way;(2)provide CITY with a copy of a permit from the State of Alaska allowing the encroaching Texaco sign and other items to remain in the State of Alaska right-of-way;or(3)defend,indemnify and hold harmless CITY in the manner provided by Article 15 hereof,for any and all costs,damages,or liability suffered by CITY because of such encroachments. Any encroachments existing as of the date of this LEASE shall not be expanded. f) LESSEE shall,at his own expense,be responsible for any utility improvements, changes,relocation,or design changes associated with development of the Leased Land. LESSEE shall also be responsible for relocating the existing electric box from the ten(10)foot strip of land added to the Leased Land by City Council Resolution 2000-114 and shall provide all necessary easements in connection with placement of the electric box at another location on the Leased Land. g) LESSEE shall,within one hundred eighty(180)days of the Effective Date of this LEASE,at his own expense,build,install,erect,cause to be built or otherwise install a raised sidewalk,constructed to City standards,along the south boundary of the North Harbor Parking Lot. This sidewalk shall be constructed in such a manner that the southern raised edge of the sidewalk is aligned along the surveyed and platted boundary line of the expanded lease site to clearly separate the Leased Land from the North Harbor Parking Lot. The sidewalk itself shall be located on the CITY's North Harbor Parking Lot adjacent to the Leased Land. The sidewalk shall be the property of the CITY and once completed,maintained by the City. LESSEE shall cooperate with the CITY concerning the standards for constructing the sidewalk and construction scheduling,with each subject to CITY approval. All costs related to construction of the sidewalk shall be the sole responsibility of and paid for by LESSEE. h) A portion of the Leased Land,more specifically described as a strip of land ten (10)feet in width along the south boundary of the North Harbor Parking Lot(Lot Two(2),Block Ten(10),Seward Small Boat Harbor Subdivision,according to Plat 2000-19),shall be designated a loading zone and used solely as a vehicle delivery and loading zone. Employees and customers of LESSEE shall not be allowed to park in this designated loading zone. This area shall be posted as a loading zone for delivery vehicle use only. 4.3 Adequacy of Public Facilities. CITY makes no representations or warranties as to the fitness of any particular part or the whole of CITY's public facilities for the uses intended by LESSEE,and LESSEE has inspected those facilities and has satisfied itself that the facilities are sufficient for the intended uses by LESSEE. CITY makes no representations City of Seward/Restated Lease Page 8 J:\DOCS\43374I06\Restatedw aVJBpruitt lease4-01.wpd g or warranties of any nature with respect to the commercial practicability or accuracy of any information provided by CITY. 4.4 Time for Payment of Utilities and Taxes. LESSEE will pay for utilities and taxes related to operations on the Leased Land and LESSEE's interest in this LEASE and improvements thereon,if any,before such obligations become delinquent;provided,that LESSEE may,in good faith and before such delinquency,contest any such charge or assessment. 4.5 Other Uses. This LEASE shall not preclude the CITY from actively seeking other and additional tenants for space including those who would be in competition with LESSEE or who might be interested in leasing the Leased Land should this LEASE be terminated for any reason. ARTICLE 5-UTILITIES AND RIGHTS OF ACCESS 5.1 Utilities. LESSEE,at LESSEE's sole cost and expense,shall provide for the extension of public utilities to the Leased Land sufficient for LESSEE's intended operations, In so doing,LESSEE shall comply with all CITY regulations and requirements,and the tariffs of the affected utilities,with respect to the construction of those utilities. CITY agrees to cooperate and assist the LESSEE,through consultation and review,in LESSEE's planning and engineering of those improvements. All utilities will be located and sized in accordance to CITY's Master Plan for the area leased. CITY adopted the Uniform Building Code, 1997 edition,and all construction shall be in compliance thereto. Utilities constructed by the LESSEE within the public right-of-ways or within public utility easements will normally be accepted and maintained by CITY or utility companies may be used to serve other customers of LESSEE's without payment of fees or reimbursement of construction cost to the LESSEE. However,this does not preclude several LESSEE'S from agreeing to share the cost of constructing a utility to serve their facilities. CITY or other utility company may determine that it would be to their benefit to oversize the utility or install special fittings or equipment in order to serve other existing or future users. The additional direct costs of such oversizing shall be borne by CITY or other utility company. Such costs shall be limited to the supplier's cost of the additional fittings,equipment,direct labor,and equipment costs to complete the installation. The costs of oversizing pipe or electrical conduit shall be limited to the difference between the supplier's price to provide the size required to serve its facility and the price of the oversized material required by CITY or utility company. LESSEE shall not be entitled to any refund,rebate,or payments from CITY for any rent, investment,or costs incurred by LESSEE with respect to any required permits for construction or operation of LESSEE's facilities on the Leased Land,it being the intent of the parties that the risk of obtaining required permits be solely a risk undertaken by LESSEE. City of Seward/Restated Lease J_\DOCS\43374106\RestatedwVJBpruitt lease4-01.wpd Page 9 5.2 Easements. In order to provide for the orderly development of the Leased Land and adjacent lands,it maybe necessary,desirable or required that street,railroad,water, sewer,drainage,gas,power line and other easements and dedications and similar rights be granted or dedicated over or within portions of the Leased Land. As additional consideration for this LEASE,CITY and LESSEE each shall,at the request of the other, join with each other in executing and delivering such documents from time to time and throughout the Lease Term as may be appropriate,necessary,or required by the several governmental agencies(including the City of Seward),public utilities and other users or tenants of CITY land for the purpose of granting such easements and dedications; provided,however,that such easements and dedications and similar rights do not unreasonably interfere with LESSEE's operations.The costs of locating or relocating any public easements or restrictions of record including any relocation of public road, railroad,utility,or other easements shall be at the sole cost and expense of the party requesting the relocation. CITY shall not refuse reasonable requests for such relocations provided those relocations do not interfere with or inhibit the overall development of CITY property or other public property. Any easements or rights of access granted to LESSEE by CITY need not be exclusive to LESSEE. ARTICLE 6-CONSTRUCTION BY LESSEE 6.1 Improvements on Leased Land. LESSEE shall have the right to erect,maintain,alter, remodel,reconstruct,rebuild,build and/or replace buildings and other improvements on the Leased Land,subject to the following conditions: a) Improvements shall require prior approval of CITY. b) The cost of any such construction,reconstruction,demolition,or of any changes, alterations or improvements,shall be borne and paid for by LESSEE. c) The Leased Land shall at all times be kept free of.mechanic's and materi.almen's liens. d) In a manner consistent with Section 4.2,LESSEE shall provide CITY with a copy of all building plans and specifications and a site development plan or plans (based on a recent survey)for the Leased Land prior to commencement of construction. e) LESSEE is solely responsible for resurveying and locating improvements on the Leased Land in such manner not to violate building setback requirements or encroaching into rights-of-ways or easements. On completion of any improvements,LESSEE shall provide CITY a copy of an as-built survey depicting the improvements as completed on the Leased Land. City of Seward/Restated Lease J:\DOCS%43374106\RestatedWVJBpruitt lease4-01.wpd Page 10 f) Any general contractor employed by LESSEE or its sublessees shall be appropriately bonded by use of performance and labor and material payment bonds in the customary form when cost of the work is equal to or exceeds FIFTY THOUSAND DOLLARS($50,000). Copies of all such bonds shall be furnished to CITY prior to commencement of construction. If the cost of the work is less than FIFTY THOUSAND DOLLARS($50,000.00),LESSEE shall provide CITY, if no performance and labor and material bonds are provided by LESSEE,any necessary assurances or guarantees that the contemplated work will be performed by the general contractor or by LESSEE. In the event that LESSEE elects to construct the facility with its own personnel and equipment,or the personnel and equipment of any corporation or person that is an"affiliate"of LESSEE as such term is defined in AS 10.06.990(2)1,a performance bond shall be required when the cost of the work is equal to or exceeds FIFTY THOUSAND DOLLARS ($50,000). g) CITY may,as contemplated by Alaska Statutes,give notice of non-responsibility for any improvements constructed or effected by LESSEE on the Leased Land. h) LESSEE shall comply with all federal,state and local statutes and regulations with respect to such construction including any required finding by the City Council of Seward that such action is in the public interest. 6.2 City Review of Construction. CITY shall have the right to review initial plans,including those supplied to CITY under Sections 4.2 and 6.1 hereof,and any future changes or additions to LES SEE's facilities on the Leased Land,by reviewing the design thereof prior to the commencement of construction. CITY shall have the right to comment upon that design and to require LESSEE to make reasonable changes so as to avoid interference with public operations,but the exercise of these rights shall not imply any obligation to do so nor any obligation to do so nor any obligation to do so in a particular way. LESSEE shall construct the facility in accordance with final design specifications approved by CITY. CITY's representatives may monitor the work and shall have access to the site at all reasonable times. LESSEE shall be solely responsible for completing all improvements according to LESSEE's plans and specifications and shall bear all risk, responsibility,and liability for properly surveying the Leased Land before construction and to place all improvements on the Leased Land without encroaching upon any land, easements,rights-of-way,or setback requirements. LESSEE shall obtain the usual and customary performance guarantees from its contractors,and CITY shall be named as an additional insured. 1Affiliate means a person that directly or indirectly through one or more intermediaries controls,or is controlled by,or is under common control with,a corporation subject to the Alaska Corporation Code. City of Seward/Restated Lease J:\DOCS1433741061RestatedwVJBpruitt lease4-01.wpd Page 11 ARTICLE 7-RETURN OF LEASED LAND/SITE CONDITIONS 7.1 Return of Leased Land in Original Condition. Subject to the provisions of Article 13.1 herein,upon termination of this LEASE for any reason,LESSEE shall return the Leased Land to CITY in the same condition.as at the commencement of the prior lease,Lease Number 84-043,and any other prior lease held by the LESSEE or his predecessors in interest,relating to any portion of the Leased Land,subject to normal,non-abusive use. The Leased Land shall be free of all Hazardous Materials and contamination arising out of or resulting from or occurring during LESSEE's operations or use of the Leased Land during this LEASE or any prior lease including any portion of the Leased Land. 7.2 Return of Leased Land in Different Condition. Notwithstanding the provisions of Section 7.1 above,upon termination of this LEASE for any reason LESSEE may return the Leased Land in a re-contoured or graded clean, safe,and stable condition different from its original condition provided CITY grants written approval of LESSEE's plans for development of the Leased Land contours,including its plans for material extraction and final grade. ARTICLE 8-FORCE MAJEURE In the event either LESSEE or CITY is delayed from performance of any of its obligations under this LEASE due to acts of God,acts of the enemies of the United States of America,sabotage,blockade,insurrection,riot,epidemic,fire,flood,explosion, earthquake/tsunami,civil disturbance,or war,the time period wherein such performance is to occur shall be extended by that amount of time necessary to compensate for the delay. ARTICLE 9-CITY ACTS OF DEFAULT Each of the following shall be a"CITY Act of Default"under this LEASE and the terms "acts of default"and"default"shall mean,when they are used in this LEASE,any one or more of the following events: 9.1 Failure by CITY to fulfill,observe or perform any covenants or agreements on its part to be observed or performed under this LEASE for a period of thirty(30)days after written notice specifying such failure,requesting that it be remedied,and stating that it is a notice of default,has been given to CITY by LESSEE;provided,however,that if said default is such that it cannot be corrected within the applicable period,it shall not constitute an act of default if corrective action is instituted by CITY within the applicable period and diligently pursued until the default is corrected. 9.2 Violation by CITY of any applicable laws or regulations of the United States,the State of Alaska,the Kenai Peninsula Borough,or the City of Seward or any conditions of any City of Seward/Restated Lease Page 12 J:\DOCS143374106\RestatedWVJBpruitt lease4-01.wpd g. permits issued by agencies of the City of Seward,the Kenai Peninsula Borough,the State of Alaska or of the United States Government pursuant to the regulations of such agencies for a period of sixty(60)days after written notice specifying such violation has been given by the agency to CITY;provided,however,if such violation be such that it cannot be corrected within the applicable period,it shall not constitute an act of default if corrective action is instituted by CITY within the applicable period and diligently pursued until the violation is corrected.Furthermore,if CITY shall contest such alleged violation through appropriate judicial or administrative channels,the time period specified herein shall not commence until such proceedings are finally determined,provided such proceedings are diligently pursued. ARTICLE 10-REMEDIES FOR CITY'S ACTS OF DEFAULT 10.1 Whenever an act of default by CITY shall have occurred,and any applicable period for giving notice and any opportunity to cure shall have expired,LESSEE shall have the following rights and remedies in addition to any rights and remedies that may be given to LESSEE by statute,common law or otherwise: a) Withhold payment of any rent otherwise due CITY to the extent of CITY'S default; b) Recover from CITY,whether this LEASE be terminated or not,reasonable attorney's fees and all other expenses incurred by LESSEE by reason of the default by CITY;and c) Declare this LEASE terminated. 10.2 No expiration or termination of this LEASE shall expire or terminate any liability or obligation to perform of CITY's which arose prior to the termination or expiration except insofar as otherwise agreed to in this LEASE. 10.3 Each right and remedy of LESSEE provided for in this LEASE shall be cumulative and shall be in addition to every other right or remedy provided for in this LEASE,now or hereafter existing at law or in equity or by statute or otherwise,and the exercise or beginning of the exercise by LESSEE of any one or more of the rights and remedies provided for in this LEASE,now or hereafter existing at law or in equity or by statute or otherwise,shall not preclude the simultaneous or later exercise by LESSEE of any or all other rights or remedies provided for in this LEASE,now or thereafter existing at law or in equity or by statute or otherwise. 10.4 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 construed to be a waiver thereof,but any City of Seward/Restated Lease J_\DOCS\43374106\RestatedwVJBpr¢itt lease4-01.wpd Page 13 such right and power may be exercised from time to time and as often as may be deemed expedient. ARTICLE 11-LESSEE'S ACTS 4F DEFAULT Each of the following shall be a"LESSEE Act of Default"under this LEASE and the terms"acts of default"and"default"shall mean,whenever they are used in this LEASE,any one or more of the following events: 11.1 Failure by LESSEE to pay promptly when due,and in no event later than twenty(20) days from the due date thereof,the rent required to be paid under this LEASE. 11.2 Failure by LESSEE to observe,fulfill or perform any covenants,conditions or agreements on its part to be observed or performed under this LEASE for a period of thirty(30)days after written notice specifying such failure,requesting that it be remedied,and stating that it is 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 of default if corrective action is instituted by LESSEE within the applicable period and diligently pursued until the default is corrected. 11.3 The making by LESSEE of an assignment for the benefit of creditors,the filing of a petition in bankruptcy by LESSEE,the adjudication of LESSEE as insolvent or bankrupt, the petition or application by LESSEE to any tribunal for any receiver or any trustee for itself or for any substantial part of its property;or the commencement of any proceeding relating to LESSEE under any bankruptcy,insolvency,reorganization,arrangement or readjustment of debt law or statute or similar law or statute of any jurisdiction,whether now or hereafter in effect which shall remain undismissed for a period of six(6)months from the date of commencement thereof. 11.4 Violation by LESSEE of any laws or regulations of the United States,or of the State of Alaska,or any conditions of any permits issued by agencies of the City of Seward,the Kenai Peninsula Borough,the State of Alaska or of the United States Government applicable to LESSEE's use of the Leased Land,pursuant to the regulations of such agencies,for a period of sixty(60)days after written notice specifying such violation has been given by the agency charged with the enforcement of such laws,regulations or permits to LESSEE;provided,however,if such violation be such that it cannot be corrected within the applicable period,it shall not constitute an act of default if corrective action is instituted by LESSEE within the applicable period and diligently pursued until the violation is corrected.Furthermore,if LESSEE shall contest such alleged violation through appropriate judicial or administrative channels,the time period specified herein shall not commence until such proceedings are finally determined provided such proceedings are diligently pursued;provided,however,that any such extension of time shall not be effective if the effect of the interim administrative or judicial action is to City of Seward/Restated Lease Page 14 J:\DOCS143374106\RestatedWVJBpruitt lease4-01.wpd g cause a stoppage,interruption or threat to the activities of any person or entity other than those of LESSEE. 11.5 Failure by LESSEE to complete construction in accordance with Articles 4 and 6 hereof. ARTICLE 12-REMEDIES FOR DEFAULT BY LESSEE Whenever an 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 following rights and remedies all in addition to any rights and remedies that may be given to CITY by statute,common law or otherwise: 12.1 CITY may distrain for rent due any of LESSEE's personal property which comes into CITY's possession. This remedy shall include the right of CITY to dispose of personal property distrained in any commercially reasonable manner.It shall be conclusively presumed that compliance with the procedures set forth in the Alaska Uniform Commercial Code(AS 45.09.504)with respect to sale of property shall be a commercially reasonable disposal. 12.2 CITY may re-enter the Leased Land and take possession thereof and,except for any personal property of LESSEE which CITY has waived its right to distrain under sub- paragraph 12.1 above,remove all personal property of LESSEE from the Leased Land. Such personal property may be stored in place or may be removed and stored in a public warehouse or elsewhere at the cost of LESSEE all without service of notice or resort to legal process,all of which LESSEE expressly waives. 12.3 In addition to the above,CITY may: a) Declare this LEASE terminated; b) Collect any and all rents due or to become due from subtenants or other occupants of the Leased Land; c) Recover from LESSEE,whether this LEASE be terminated or not,reasonable attorney's fees and all other expenses incurred by CITY by reason of the breach or default by LESSEE; d) Recover an amount to be due immediately on breach equal to the unpaid rent for the entire remaining term of this LEASE. e) Recover all damages incurred by CITY by reason of LESSEE'S default or breach including,but not limited to,the cost of recovering possession of the Leased Land,expenses of reletting including costs of necessary renovation and alteration City of Seward/Restated Lease J:\DOCS\43374106\RestatedVWJBpruitt lease4-01.wpd Page 15 of the premises,reasonable attorneys fees and any real estate commissions actually paid. f) Remove or require the removal of any improvements constructed without CITY approval or constructed contrary to site development plans approved by CITY and recover all costs and expense incurred by CITY to remove violating improvements. 12.4 If LESSEE does not immediately surrender possession of the Leased Land after termination by CITY and upon demand by CITY,CITY may forthwith enter into and upon and repossess the Leased Land and expel LESSEE without being deemed guilty in any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or breach of covenant. 12.5 No expiration or termination of this LEASE shall expire or terminate any liability or obligation to perform of LESSEE's which arose prior to the termination or expiration except insofar as otherwise agreed to in this LEASE. 12.6 Each right and remedy of CITY provided for in this LEASE shall be cumulative and shall be in addition to every other right or remedy provided for in this LEASE or now or hereafter existing at law or in equity or by statute or otherwise,and the exercise or beginning of the exercise by CITY of any one or more of the rights and remedies provided for in this LEASE or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by CITY of any or all other rights or remedies provided for in this LEASE or now or thereafter existing at law, or in equity or by statute or otherwise. 12.7 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 construed to be a waiver thereof,but any such right and power may be exercised from time to time and as often as may be deemed expedient. ARTICLE 13-TITLE TO IMPROVEMENTS INSTALLED BY LESSEE 13.1 Real Property Improvements. All improvements constructed by LESSEE on the Leased Land or on easements to or from the same,such as buildings,warehouses,conveyor systems,ditches,sewer lines,water lines,dikes or berms and similar improvements,shall become the property of CITY upon termination of this LEASE for any reason;provided, however,that CITY may require LESSEE to remove any improvements designated by CITY and without cost to CITY. 13.2 Personal Property. Any other provisions of this LEASE to the contrary notwithstanding, LESSEE,upon termination of this LEASE for any reason,may,but need not,promptly City of Seward/Restated Lease J:\DOCS\43374106\RestatedWVJBpruitt lease4-01.wpd Page 16 remove,in no event later than ninety(90)days from the termination of the LEASE,trade fixtures and equipment from the Leased Land provided that LESSEE shall repair any damages to the Leased Land caused by such removal. ARTICLE 14-ASSIGNMENT OR SUBLEASE 14.1 Assignment of Lease or Subleasing. The parties recognize that this LEASE has been determined to be in the public interest by the City Council of CITY for the reasons set forth in the approving Resolution. The rights and duties created by the LEASE are personal to LESSEE and CITY has granted the LEASE in reliance upon the individual character and financial capability of LESSEE. Therefore,LESSEE shall not assign this LEASE without CITY'S prior written consent,in CITY'S sole discretion. LESSEE may sublease a portion of the Leased Land only with CITY'S prior written consent,which consent shall be granted if: a) The use of the Leased Land by the proposed sublessee is compatible with the use of adjacent lands; b) The proposed use is a permitted use under the then existing zoning regulations and comprehensive land use plan; c) LESSEE has made a written request to sublease the Leased Land with a copy of the sublease agreement to the CITY; d) The portion of the Leased Land to be sublet is limited to the area within the footprint of the building existing as of effective date of this LEASE. (No portion of the Leased Land may be sublet,leased,rented,or used by any subtenant if not contained within such building footprint,e.g.,no expresso stands or food carts.) e) The sublessee shall agree to defend,indemnify and hold harmless the CITY,its officials,employees,and agents,from any and all liability or claims for damages, including personal injuries,death and property damage arising out of or resulting from sublessees use of the Leased Land by themselves,their agents,contractors, guests or the public,except for damages arising from the sole negligence or willful acts or omissions of CITY,its officials,employees,agents,or contractors; f) LESSEE'S full faith and credit shall remain obligated under this LEASE as though the sublease had not taken place;and g) The sublessee assumes and agrees in writing to pay and perform all of the obligations of LESSEE hereunder including,without limitation,Article 21- Environmental Concerns. City of Seward/Restated Lease J:\DOCS%433741061RestatedYNJBpruitt lease4-01.wpd Page 17 Prior to execution of this LEASE,LESSEE shall provide CITY with copies of any existing sublease agreements relating to the prior lease,Lease Number RE 84-043. CITY'S consent is hereby granted for the sublessees listed on Exhibit B attached hereto; provided,however,that all such subleases are first subordinated to this LEASE in writing. All later subleases shall also be subordinated to this LEASE in writing. 14.2 Assignment of Lease for Security. Notwithstanding Section 14.1 above,LESSEE may assign,encumber or mortgage its interest in this LEASE or improvements on the Leased Land,by deed of trust or other security instrument,to an institutional lender("Lender") for development of or operations on the Leased Land,provided that Lender shall be subject to all obligations of LESSEE under the terms of this LEASE upon foreclosure. CITY shall furnish Lender,at the address provided to CITY by Lender in writing,with notice of any default or breach of LESSEE under this LEASE. Lender shall have the right(without being required to do so and without thereby assuming the obligations of LESSEE under this LEASE)to make good such default or breach within thirty(30)days after written notice specifying such breach.Notwithstanding the provisions of Article 12 above,no"LESSEE Act of Default"shall exist until expiration of thirty(30)days after such notice is furnished to Lender;provided, a) If Lender,with respect to any default or breach other than a failure to make any required payment of rent or other money,shall undertake within thirty(30)days after notice to cure the default or breach and shall diligently and in good faith proceed to do so,CITY may not terminate this LEASE or relet the Leased Land unless Lender fails to cure the default or breach within a reasonable period of time thereafter;and b) If the default for which notice is given is a breach of Section 11.3,CITY shall not exercise any of the remedies afforded to it under Article 12 above so long as LESSEE or Lender remains in possession of the Leased Land and satisfies LESSEE's obligations under the terms of this LEASE. Upon foreclosure or other assertion of its security interest,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. 14.3 Assignment to Affiliate. Notwithstanding Section 14.1 above,LESSEE may assign this LEASE to an affiliate of LESSEE as that term is defined by AS 10.06.990(2)2;provided, however,that LESSEE's full faith and credit shall remain obligated under this LEASE as though the assignment had not taken place. 2Affiliate means a person that directly or indirectly through one or more intermdeiaries controls,or is controlled by,or is under common control with,a corporation subject to the Alaska Corporation Code. City of Seward./Restated Lease J:IDOCS1433741061RestatedWVJBpruitt lease4-01.wpd Page 18 ARTICLE 15-LESSEE'S DUTY TO DEFEND/INDEMNIFY LESSEE shall defend,indemnify and hold harmless CITY,its officials,employees, agents,and contractors from any and all liability or claims for damages,including personal injuries,environmental damage,death and property damage arising out of or resulting from LESSEE's use of the Leased Land or the use of the Leased Land by LESSEE's sublessees, assignees,agents,contractors or the public,except for damages arising from the sole negligence or willful acts or omissions of CITY,its officials,employees,agents,or contractors. If any action or proceeding is brought against LESSEE by reason of any such occurrence,LESSEE shall notify CITY promptly in writing of such action or proceeding. ARTICLE 16-CITY'S DUTY TO DEFEND/INDEMNIFY CITY shall defend,indemnify and hold LESSEE harmless from any and all liability or claims for damages,including personal injuries,death and property damage arising from the sole negligence or willful acts or omissions of CITY,its officials,employees,agents, or contractors. ARTICLE 17-INSURANCE 17.1 Minimum Insurance Requirements. Prior to commencement of the Lease Term or LESSEES occupancy of the Leased Land,LESSEE shall procure and maintain,at LESSEE's sole cost and expense,comprehensive commercial general liability insurance with limits of liability of not less than TWO MILLION DOLLARS ($2,000,000)f6r all injuries and/or deaths resulting to any one person and ONE MILLION DOLLARS ($1,000,000)limit from any one occurrence. The comprehensive commercial general liability insurance shall include coverage for personal injury,bodily injury,and property damage or destruction. Coverage under such policies of insurance shall also include collapse and underground property damage hazards. Contractual liability insurance coverage in the amount of not less than ONE MILLION DOLLARS($1,000,000)is also required. LESSEE shall obtain owned and non-owned automobile liability insurance with limits of liability of not less than ONE MILLION DOLLARS($1,000,000)per occurrence combined single limit for bodily injury and property damage. LESSEE shall also maintain workers compensation insurance as required under Alaska law. LESSEE shall also procure and maintain environmental pollution liability insurance in the amount of not less than ONE MILLION DOLLARS($1,000,000)and in such additional amount as may be required by state or federal statutes or regulations for the operation of a facility containing under ground fuel storage tanks. City of Seward/Restated Lease Page�9 JADOCS1433741061RestatedWVJBpruitt lease4-0l.wpd The minimum amounts and types of insurance provided by LESSEE shall be subject to revision at the sole discretion of CITY in accordance with standard insurance practices,in order to provide continuously throughout the term of this LEASE and any extensions hereof,a level of protection consonant with good business practice and accepted standards in the industry. Such factors as changes in the type of or extent of use of the Lease Land,increases in the cost of living,inflationary pressures,and other considerations,shall be utilized in assessing whether the minimum insurance require- ments should be increased. CITY shall notify LESSEE of any required increase in insurance coverage. 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 37 of this LEASE. All such policies shall be written by insurance companies legally authorized or licensed to do business in the State of Alaska,and acceptable to CITY(Best's Rating B+ or better). CITY shall be listed as an additional insured under all insurance policies. LESSEE shall furnish CITY,on forms approved by CITY,certificates evidencing that it has procured the insurance required herein prior to the occupancy of the Leased Land or operation by LESSEE. Insurance policy deductibles are subject to approval by CITY. Nothing herein contained shall prevent LESSEE or CITY from placing and maintaining at CITY's or LESSEE's own individual cost and expense,additional or other insurance as may be desired. The minimum insurance requirements under this LEASE shall not act to limit LESSEE'S liability for any occurrence and shall not limit LESSEE'S duty to defend and indemnify CITY for claims related to this LEASE or the Leased Land. 17.2 Subrogation Rights Waived. To the extent permitted by law,LESSEE hereby releases CITY,its elected and appointed officials,employees and volunteers and others working on behalf of CITY from any and all liability or responsibility to LESSEE or anyone claiming through or under LESSEE by way of subrogation or otherwise,for any loss of any kind(including damage to property caused by fire or any other casualty),even if such loss shall have been caused by the fault or negligence of the CITY,its elected or appointed officials,employees or volunteers or others working on behalf of the CITY. This provision shall be applicable and in full force and effect only with respect to loss or damage occurring during the time of LESSEE'S occupancy or use,and LESSEE'S policies of insurance shall contain a clause or endorsement to the effect that such release shall not adversely affect or impair such policies or prejudice the right of LESSEE to recover thereunder except as against CITY(including its elected and appointed officials, employees and volunteers and others working on behalf of CITY)during the time of LESSEE'S occupancy or use. LESSEE agrees that its policies of insurance will include such a clause or endorsement. City of Seward/Restated Lease J:\DOCS1433741061RestatedWVJBpruitt lease4-01.wpd Page 20 ARTICLE 18-CONDEMNATION 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 against 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 in the event of a single award to CITY which includes specific damages for loss of LESSEE's leasehold interest,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,LESSEE shall make a good faith determination as to whether or not the taking of the part of the Leased Land designated for condemnation will prevent it from continuing to operate on the Leased Land.If LESSEE determines in good faith that the condemning of such part of the Leased Land will prevent it from continuing to operate on the Leased Land,LESSEE may notify CITY in writing to this effect,and this LEASE shall then be terminated for all purposes effective fifteen(15)days from the date LESSEE sends such notice to CITY,or at such other later date as LESSEE shall specify in its notice,and such termination shall_be treated in the same manner as a termination at the expiration of the term of this LEASE. LESSEE shall,as a condition precedent to such termination,remove all encumbrances,debts and liens to which the Leased Land is subject.If at the time of such partial taking for public use,LESSEE determines that such partial taking will not prevent it from continuing to operate,then LESSEE and CITY shall negotiate an equitable and partial abatement of the rent beginning to be effective on the actual date when LESSEE is effectively prevented from utilizing the condemned land. ARTICLE 19-ARBITRATION 19.1 Arbitration. a) Disputes between the parties with respect to the performance of this LEASE that cannot be resolved by the parties,shall be submitted to an independent arbitrator for a settlement pursuant to the provisions of the Alaska Uniform Arbitration Act (AS 09.43.010 et.seq.),as it now exists or may hereafter be amended from time to time,and judgment on the award may be entered in any Superior Court in the State of Alaska. Notwithstanding the foregoing,arbitration shall not be applicable to claims or disputes involving a requested remedy having a value of more than Fifty Thousand Dollars and No/100s($50,000)(exclusive of interest and costs). All demands for arbitration and all answering statements thereto that include any claim must contain a statement that the total sum or value in controversy,as alleged by the party making such demand or answering statement,is not more than Fifty Thousand Dollars and No/100s($50,000.) The arbitrator will not have jurisdiction,power,or authority to consider or make findings(except to deny jurisdiction)concerning any claim,counterclaim,dispute or other matter in question where the amount in controversy of any such claim,counterclaim, City of Seward/Restated Lease J:IDOCS1433741061RestatedW Bpruitt lease4-01.wpd Page 21 dispute or matter is more than Fifty Thousand Dollars and No/100s($50,000). The costs and expenses of arbitration shall be shared equally by the parties,and each party shall bear its own attorney's fees and costs. b) Arbitration procedures shall be applicable only to contract,negligence,and similar claims arising from or related to this LEASE,and shall not be used to resolve or determine any claim based upon fraud,intentional misrepresentation,nor any claim based on conduct that is a felony crime in the State of Alaska. c) Written notice of requests for arbitration of disputes may be served by either party to this LEASE upon the other party. Arbitration of any dispute or claim shall be determined by a single arbitrator selected from a list of not less than five arbitrators obtained from the presiding Superior Court Judge or other appropriate judicial officer in Anchorage,Alaska. The arbitrator shall be a person who(a)has not less than five(5)years legal experience in the State of Alaska prior to appointment;and(b)such legal experience includes substantial experience with long-term commercial real property transactions. Each party shall be provided with a copy o f th e list and shall be afforded a maximum of ten(10)working days to become familiar with the qualifications of the prospective arbitrators. The arbitrator shall be selected by each party,commencing with the party demanding the arbitration,striking one name from the list until only a single name remains. d) Arbitration hearings shall be conducted in Anchorage,Alaska or such other location as the parties may agree. Each party shall produce at the request of the other party,at least thirty(30)days in advance of such hearing,all documents to be submitted at the hearing and such other documents as are relevant to the issues or likely to lead to relevant information. e) In deciding the claim or dispute,the arbitrator shall follow applicable Alaska law, and the written decision shall be supported by substantial evidence in the record. Failure to apply Alaska law,or entry of a decision that is not based on substantial evidence in the record,shall be additional grounds for modifying or vacating an arbitration decision. ARTICLE 20-MAINTENANCE AND REPAIRS 20.1 Normal Maintenance. During the entire term of this LEASE and every extension hereof, if any,LESSEE shall,at LESSEE's sole cost,risk and expense,maintain the Leased Land, including any improvements placed thereon by LESSEE,in as good condition as received or constructed by LESSEE,subject to normal,non-abusive use. CITY,at CITY's sole option and expense,may,prior to the commencement of construction by LESSEE, perform maintenance and preventative work on the Leased Land,exclusive of improvements placed thereon by LESSEE,in order to prevent erosion,mitigate damage City of Seward/Restated Lease J:IDOCS143374106\RestatedVNJBpruitt lease4-01,wpd Page 22 to plants and animals,or prepare the Leased Land for eventual development by LESSEE or others by grading,filling or contouring the Leased Land.Any such work performed by CITY shall be at CITY's sole expense and risk unless LESSEE agrees,in advance and in writing,to share such expense and risk. LESSEE shall maintain in first class condition at all times all fire,pollution and other protective equipment,if any are placed on Leased Land. 20.2 Safety Issues. CITY may notify LESSEE in writing of any deficiencies in the performance of LESSEE's maintenance responsibilities as they relate to public health or safety and LESSEE shall promptly within thirty(30)days of receipt of such notice advise CITY in writing of its proposed schedule for performance of any work necessary to cure such deficiencies. If such deficiencies relate to the safety of LESSEE's operation such that the surrounding land and port facilities are exposed to risk,unnecessary potential hazards,or a risk to the public interest(as distinguished from a business risk),or if CITY is not satisfied with the proposed schedule of repairs either because of the delays therein or the scope of the repairs,then CITY may engage an independent engineering consultant well-versed anal experienced who shall furnish to CITY a comprehensive survey and report for the purpose of establishing both the need and urgency to perform such maintenance work. As soon as practicable following receipt of said engineer's determinations and recommendations,if the report requires repair then LESSEE shall pay the cost of the report and perform such work in accordance therewith at LESSEE's cost,risk and expense. 20.3 Cost of Repairs. Should LESSEE dispute the necessity of any maintenance work as being necessary or advisable or reasonable to protect the public facilities on adjacent land,it may submit the matter to arbitration;provided,however,that pending the decision of the arbitrator it shall fully comply with the maintenance requests. If an arbitration award should ultimately find that the repairs were not necessary then LESSEE may either deduct from future rental payments the cost of such repairs or be reimbursed therefor.In deciding whether repairs requested by CITY or required by an engineering report are necessary,the arbitration panel is to give primary consideration to the safety and welfare of the Seward port facilities and the citizens of Seward in light of the highest standards in the industry. If any facility or service provided by CITY to the Leased Land shall become inadequate due to changes in environmental control standards or should any facility require updating or improvement by reason of a change in LESSEE's use of the Leased Land or operations therefrom,LESSEE shall either construct such improvements at LESSEE's own cost or reimburse CITY for such work at the option of CITY. City of Seward/Restated Lease J:\DOCS\43374106\RestatedWVJBpruitt 1ewe4-01.wpd Page 23 ARTICLE 21 -ENVIRONMENTAL CONCERNS 21.1 Hazardous Materials. a) Condition of Site. LESSEE has had full opportunity to examine the site for the presence of any Hazardous Material and accepts the site in"as is"condition. LESSEE acknowledges he is the original occupant of the Leased Land under prior leases and that he has used a portion of the Leased Land for retail motor fuel sales and currently has underground fuel storage tanks on a portion of the Leased Land. b) Release of CITY. Any other provision of this LEASE to the contrary notwith- standing,LESSEE releases CITY from any and all claims,demands,penalties, fines,judgments,liabilities,settlements,damages,costs or expenses(including, without limitation,attorney's fees,court costs,litigation expenses,and consultant and expert fees)arising prior to,during,or after the term of this LEASE,and resulting from the use,keeping,storage or disposal of Hazardous Material on the Leased Land by LESSEE,or arising out of or resulting from LESSEE's operations at the.Leased Land under this or any prier lease of any portion of the Leased Land by LESSEE or LESSEE'S assignees or predecessors in interest,except for those claims arising out of CITY's sole negligence or intentional misconduct. This release includes,without limitation,any and all costs incurred due to any investigation of the Leased Land or any cleanup,removal or restoration mandated by a federal,state or local agency or political subdivision or by law or regulation. c) Use of Hazardous Materials on the Site. i) LESSEE shall not cause or permit any Hazardous Material to be brought upon,kept or used in or about the Leased Land except for such Hazardous Material as is necessary to conduct LESSEE's authorized use of the Leased Land. ii) Any Hazardous Material permitted on the Leased Land as provided in this paragraph,and all containers therefor,shall be used,kept,stored and disposed of in a manner that complies with all Environmental Laws or other laws or regulations applicable to such Hazardous Material. iii) LESSEE shall not discharge,leak or emit,or permit to be discharged, leaked or emitted,any material into the atmosphere,ground,ground water, sewer system or any body of water,if such material(as reasonably determined by the City,or any governmental authority)does or may, pollute or contaminate the same,or may adversely affect the(a)health, welfare or safety of persons,whether located on the Leased Land or City of Seward/Restated Lease J:\DOCS\43374106\RestatedWVJBpruitt lease4-01."d Page 24 elsewhere;or(b)condition,use or enjoyment of the Leased Land or any other area or personal property. iv) LESSEE hereby agrees that it shall be fully liable for all costs and expenses related to the use,storage and disposal of Hazardous Material kept or brought on the Leased Land by LESSEE,its authorized representatives and invitees,and LESSEE shall give immediate notice to CITY of any violation or potential violation of the provisions of this subparagraph. d) Indemnification of CITY. Any other provision of this LEASE to the contrary notwithstanding,LESSEE shall defend,indemnify and hold CITY harmless from and against any claims,demands,penalties,fines,judgments,liabilities, settlements,damages,costs or expenses(including,without limitation,attorney, consultant and expert fees,court costs and litigation expenses)of whatever kind or nature,known or unknown,contingent or otherwise,arising out of or in any way related to: i) The presence,disposal,release or threatened release of any such Hazardous Material which is on or from the Leased Land,soil,water, ground water,vegetation,buildings,personal property,persons,animals or otherwise; ii) Any personal injury(including wrongful death)or property damage(real or personal)arising out of or related to such Hazardous Material or any use of the Leased Land; iii) Any lawsuit brought or threatened,settlement reached or government order relating to such Hazardous Material or any use of the Leased Land; and/or iv) Any violation of any laws applicable thereto;provided,however,that this Section 21.1(d)shall apply only if the acts giving rise to the claims, demands,penalties,fines,judgments,liabilities,settlements,damages, costs or expenses(1)occur during the term of this LEASE; (2)arise in whole or in part from the use of,operations on,or activities on the Leased Land by LESSEE or LESSEE'S employees,agents,invitees,contractors, subcontractors,authorized representatives,subtenants or any other persons;or(3)occurred during the term of any prior lease of any portion of the Leased Land previously leased by LESSEE,his assignees,affiliates, or predecessors in interest. The provisions of this subparagraph shall be in addition to any other obligations and liabilities LESSEE may have to City of Seward/Restated Lease J:\DOCS\43374106\RestatedwWJBpruitt lease4-01.wpd Page 25 CITY at law or equity and shall survive the transactions contemplated herein and shall survive the termination of this LEASE. e) Facility Operator. For all purposes,LESSEE shall be deemed the operator of any facility on the Leased Land. f) Hazardous Material Defined. As used in this LEASE,Hazardous Material is any substance which is toxic,ignitable,reactive,or corrosive or which is regulated by any Environmental Law. Hazardous Material includes any and all material or substances which are defined as"hazardous waste", "extremely hazardous waste" or a"hazardous substance"under any Environmental Law. Notwithstanding any statutory petroleum exclusion,for the purposes of this LEASE,the term Hazardous Material includes,without limitation,petroleum,including crude oil or any fraction thereof,petroleum soaked absorbent material and other petroleum wastes. g) Environmental Law Defined.As used in this LEASE,Environmental Laws include any and all local,state and federal ordinances,statutes,and regulations,as now in force or as may be amended from time to time,relating to the protection of human health and the environment,as well as any judgments,orders,injunctions, awards,decrees,covenants,conditions,or other restrictions or standards relating to same. Environmental Laws include,by way of example and not as a limitation of the generality of the foregoing,the Resource Conservation and Recovery Act of 1976,the Comprehensive Environmental Response,Compensation and Liability Act of 1980,the Clean Water Act,and the Superfund Amendments and Reauthorization Act of 1986. 21.2 Permits and Reporting. a) Permits Required by Other Governmental Agencies. LESSEE shall obtain all permits or approvals required by any applicable law or regulation. Copies of all such permits shall be provided to CITY prior to LESSEE commencing work under this LEASE. LESSEE shall promptly make all reports to any federal,state or local government or agency required by any permit or Environmental Law, including reports of any spill or discharge of Hazardous Material. The CITY, through the City Manager,may order LESSEE to immediately cease any operations or activities on the Leased Land if the same is being carried out without necessary permits,in violation of the terms of any permit or Environmental Law,or contrary to this LEASE. b) Correspondence With and Reports to Environmental Agencies. LESSEE shall immediately provide CITY with copies of all correspondence and notice, including copies,of all reports between LESSEE and any state,federal or local City of Seward/Restated Lease J:\DOCS\43374106\RestatedWVJBpruitt lease4-01.wpd Page 26 government or agency regulating Hazardous Material which relates to LESSEE's operations on or use of the Leased Land. ARTICLE 22-ESTOPPEL CERTIFICATES Either party shall at any time and from time to time upon not less than ten(10)days'prior written request by the other party,execute,acknowledge,and deliver to such party,or to its designee,a statement in writing certifying that this LEASE is unamended and in full force and effect(or,if there has been any amendment thereof,that the same is in full force and effect as amended and stating the amendment or amendments),that there are no defaults 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 23-CONDITIONS AND COVENANTS All the provisions of this LEASE shall be deemed as running with the land,and shall be construed to be"conditions"as well as"covenants,"as though the words specifically expressing or imparti---ng covenants and conditions were used in each separate provision. ARTICLE 24-NO WAIVER OF BREACH No failure by either CITY or LESSEE to insist upon the strict performance by the other of any term,covenant or condition 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 terms,covenants or conditions. 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 breach. ARTICLE 25-TIME OF THE ESSENCE Time is of the essence of this LEASE and of each provision. ARTICLE 26-COMPUTATION OF TIME The time in which any act provided by this LEASE is to be done by shall be computed by excluding the first day and including the last,unless the last day is a Saturday,Sunday or a holiday,and then it is also excluded. ARTICLE 27-SUCCESSORS IN INTEREST Each and all of the teens,covenants and conditions in this LEASE shall inure to the benefit of and shall be binding upon the successors in interest of CITY and LESSEE. City of Seward/Restated Lease J:\DQCS143374106`RestatedWVJBpruitt lease4-01.wpd Page 27 ARTICLE 28-ENTIRE AGREEMENT This LEASE contains the entire agreement of the parties with respect to the matters covered by this LEASE,and no other agreement,statement or promise made by any party which is not contained in this LEASE shall be binding or valid. ARTICLE 29-GOVERNING LAW This LEASE shall be governed by,construed and enforced in accordance with the laws of the State of Alaska. The terms of this LEASE are subject in all respects to the Charter and Code of Ordinances of CITY in effect on the date of this LEASE,and as they may be hereafter amended,including without limitation,Chapter 7.05 of the Seward City Code. ARTICLE 30-PARTIAL INVALIDITY If any provision of this LEASE is held by a court of competent jurisdiction to be invalid, void or unenforceable,the remainder of the provisions shall remain in full force and effect and shall in no way be affected,impaired or invalidated. ARTICLE 31 -RELATIONSHIP OF PARTIES Nothing contained in this LEASE shall be deemed or construed by the parties or by any third person to create the relationship of principal and agent or of partnership or of joint venture or of any association between CITY and LESSEE;and neither the method of computation of rent,nor any other provisions contained in this LEASE nor 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 32-INTERPRETATION The language in all parts of this LEASE shall in all cases be simply construed according to its fair meaning and not for or against CITY or LESSEE as both CITY and LESSEE have had the opportunity to seek assistance of counsel in drafting and reviewing this LEASE. ARTICLE 33-NUMBER AND GENDER In this LEASE,the neuter gender includes the masculine and the feminine,and the singular number includes the plural;the word"person"includes corporation,partnership,firm or association wherever the context so requires. ARTICLE 34-MANDATORY AND PERMISSIVE "Shall," "will"and"agrees"are mandatory; "may"is permissive. City of Seward/Restated Lease J:IDOCS143374106\RestatedVVVJBpruitt lease4-01.wpd Page 28 ARTICLE 35-CAPTIONS Captions of the articles,paragraphs and subparagraphs of this LEASE are for convenience and reference only,and the words contained therein shall in no way be held to explain,modify,amplify or aid in the interpretation,construction or meaning of the provisions of this LEASE. ARTICLE 36-AMENDMENT This LEASE is not subject to amendment except in writing executed by both parties hereto. ARTICLE 37-NOTICES All notices,demands or requests from one party to another shall be delivered in person or be sent by mail,certified or registered,postage prepaid,to the addresses stated in this Article and to such other persons and addresses as either party may designate. Notice by mail shall be deemed to have been given at the time of mailing. All notices,demands and requests from LESSEE to CITY shall be given to CITY at the following address: City Manager CITY OF SEWARD PO Box 167 Seward,Alaska 99664 All notices,demands or requests from CITY to LESSEE shall be given to LESSEE at the following address: James T.Pruitt d/b/a Gateway Texaco Liquor and Food mart P.O.Box 944 Seward,Alaska 99664 Each party shall have the right,from time to time,to designate a different address by notice given in conformity with this Article. ARTICLE 38-FIRE PROTECTION LESSEE shall at its sole cost,risk and expense provide fire protection to its operations on the Leased Land and fire prevention to industry standards for risks to adjacent facilities such that those risks are minimized. LESSEE shall continue to provide and maintain industry accepted standards of fire protection such that the City of Seward's ISO rating is not degraded by reason of LESSEE'S operation. The parties agree that with the rapid expansion of technology in the field City of Seward/Restated Lease 7:1DOCS143374106\RestatedNWJBpruitt lease4-01.wpd Page 29 of fire prevention and control LESSEE's obligations hereunder may vary during the term of this LEASE and CITY may submit LESSEE's compliance with its obligation hereunder to arbitration not more frequently than once each five years. IN WITNESS WHEREOF,the parties hereto have set their hands and seals the dates herein set forth. CITY: LESSEE: CITY OF SEWARD By: W.Scott Jank J es T.Pruitt Its: City Manager Date:Date. . ' .� ... AT ST: Patrick ,City Clerk (City Seal) ol'9111Wss, ell s a 4 04'0.T�'�**' AL 4 r tr� 4 V49 ".�=?.. �F>¢� it"`5'�" -r}✓ City of Seward/Restated Lease J:\DOCS1433741061RestatedwVJBpruitt lease4-01.wpd Page 30 ACKNOWLEDGMENTS STATE OF ALASKA ) ss: THIRD JUDICIAL DISTRICT ) THIS CERTIFIES that on this day of May,2001,before me,the undersigned Notary Public in and for the State of Alaska,personally appeared W. Scott Janke,known to me and to me known to be the City Manager for the City of Seward,Alaska,and acknowledged to me that he knows the contents of the foregoing document and executed the foregoing document on behalf of the City of Seward for the purposes therein set forth. WITNESS my hand and notarial seal the day and year first hereinabove written. o-vAR ° /ram �„ *� .� Ilrytary Publ c in and fnr Alaska .., -•, •, ��� �,,.` My Commission Expires: Z i f��l;,u�1ME� 1 I1Ig� STATE OF ALAS KA ) ss: THIRD JUDICIAL DISTRICT ) THIS CERTIFIES that on this day of May,2001,before me the undersigned,a Notary Public in and for the State of Alaska,personally appeared James T.Pruitt,known to me and to me known to be the individual named herein and acknowledged to me that he knows the contents of the foregoing document and executed the foregoing document for the uses and purposes therein set forth. WITNESS my hand and notarial seal the day and year first hereinabove written. j•i.. • a • 44- Ov.• Notary Public in and for Alaska My Commission Expires: Zb.3 City of Seward/Restated Lease J:\DOCS1433741061RestatedwVJBpruitt lease4-01.wpd Page 31 2004-001074oO Recording Dist:314-Seward A 6/17/2004 1:01 PM Pages: 1 of 7 A s K A LEASE NO: RE-2000-02 LESSOR: CITY OF SEWARD LESSEE: JAMES T.PRUITT RESTATED LEASE AGREEMENT This Restated Mernoran.dmin of Lease was orig beginning inally recorded in Book 105,beginng at Page 797, Seward Recording District,Third Judicial District,State of Alaska. Lease Amendment No. L reduces lease size by eliminating a strip of land 10 feet in width located along north boundary of Leased Land. Resolution 2004-28. This Cover Sheet Has Been Added To This Document By: City of Seward,Harbor Department To Provide Space For Recording Data. This Cover Sheet Appears As The First Page Of The Docun-nent In The Official Public Record. Lease Amendment#1 To the Restated Lease Agreement Between the City of Seward,Alaska and James T.Pruitt This Lease Amendment is made by the City of Seward, a home rule municipal corporation located in the Kenai Peninsula Borough, State of Alaska whose mailing address is P.O. Box 167, Seward, Alaska 99664 (the "City"), James T. Pruitt d/b/a Gateway Texaco Liquor and Food Mart whose mailing address is P.O.Box 944,Seward, Alaska 99664(the"Lessee"), and Harbor Gateway, Inc., P.O. Box 944, Seward,Alaska 99664("Lessee's Assignee"). WHEREAS,the City and Lessee entered into a Restated Lease Agreement effective December 14,2000(the"Lease"); and WHEREAS,pursuant to the Lessee's Assignment of Lease With Consent by Lessor dated May 243 2001,Lessee assigned the Lease to Lessee's Assignee,as an affiliate of Lessee in accordance with Section 14.3 of the Lease,provided that Lessee's full faith and credit remain obligated under the Lease;and WHEREAS,the Lessee has requested that the property subject to the Lease be reduced in size to eliminate a strip of land 10 feet in width located along the north boundary of the Leased Land and immediately adjacent to the City's north harbor parking lot, Lot 2, Block 1, North Harbor Subdivision,consisting of an area approximately 1,079 square feet =md-e or less;and WHEREAS, the City Council adopted Resolution 2004-A authorizing the City Manager to enter into this.Lease Amendment. NOW THEREFORE,the parties hereto agree that the Lease is hereby amended as follows: 1. Section 1.1 is deleted in its entirety and replaced with the following: Description of Leased Land. The leased Land is located in the City of Seward, Alaska,and described as follows(herein referred to as the"Leased Land"): Lot One (1), Block Ten(10), SEWARD SMALL BOAT HARBOR SUBDIVISION, according to Plat 2000-19,filed in the Seward Recording District, Third Judicial District, State of Alaska, EXCEPTING therefrom a strip of land 10 feet in width located along the north boundary of the Leased Land and immediately adjacent to the City's north harbor parking lot described as Lot 2, Block 10, North Harbor Subdivision,such ten foot strip containing approximately 1,079 square feet more or less. 1ADocs1433.741061Gateway Texaco LeaseAmendment.wpd Page 1 2 of 7 2004-001074.0 2. The Leased Land described as in the amended Section 1.1 shall be surveyed and platted by Lessee in a manner approved by the City in the City's sole discretion. Such survey shall occur within one month from the effective date of this Lease Amendment. The platting shall be completed within 180 days from the effective date of this Lease Amendment. Although the area of Leased Land is reduced immediately, LESSEE is permitted access to the relinquished ten foot strip of land solely for the purpose of completing the surrey required herein. 3. Upon completion of the survey and re-platting, Exhibit A to the Lease shall be replaced with the revised re-plat of the Leased Land. 4. Section 4.2(f)is deleted. 5. Section 4.2(g)is deleted. 6. Section 4.2(h)is deleted. 7. Section 5.1 Utilities is deleted in its entirety and replaced with the following: Utilities. LESSEE, at LESSEE'S sole cost and expense; shall provide for the extension of public utilities to the Leased Land sufficient for LESSEE's intended operations. In so doing, LESSEE shall comply with all CITY ordinances and requirements,and the tariffs of the affected utilities,with respect to the construction of those utilities. CITY agrees to cooperate and assist the LESSEE, through consultation and review, in LESSEE's planning and engineering of those improvements. All utilities will be located and sized in accordance to the CITY's Master flan for the area leased. All construction shall be in compliance with the City's building code,fire code,and other applicable ordinances. Utilities constructed by the LESSEE within the public right-of-ways or within public utility easements will normally be accepted and maintained by the CITY or utility companies and may be used to serve other customers without payment of fees or reimbursement of construction cost to the LESSEE. However,this does not preclude several lessees from agreeing to share the cost of constructing a utility to serve their facilities. CITY or other utility companies may determine that it would be to their benefit to oversize the utility or install special fittings or equipment in order to serve other existing or future users. The additional direct costs of such oversizing shall be borne by CITY or other utility company. Such costs shall be limited to the supplier's cost of the additional fittings, equipment, direct labor, and equipment costs to complete the installation. The costs of oversizing pipe or electrical conduit shall be limited to the difference between the supplier's price to provide the size required to serve its facility and the price of the oversized material required by the CITY or utility company. 1:\Docs1433741061Gateway Texaco LeaseAmendment_wpd Page 2 3 of 7 2004-001074-0 LESSEE shall not be entitled to any refund,rebate,or payments from CITY for any rent,investment,or costs incurred by LESSEE with respect to any required permits for construction or operation of LESSEESs facilities on the Leased Land,it being the intent of the parties that the risk of obtaining required permits be solely a risk undertaken by LESSEE. 8. Failure of LESSEE to comply with any requirements of this Lease Amendment shall be a LESSEE Act of Default under the Lease if such default is not cured 30 days following notice from the City. 9. This Lease Amendment shall be effective upon execution by both parties and is conditioned upon the effectiveness of Resolution 2004-A of the City Council. 10. All other provisions of the Lease remain unchanged and in full force and effect. DATED this day of Ajort 2004. LESSOR: LESSEE: CITY OF SEWARD . e s � ZPH Shealy, ty Manager Jarhes T. Pruitt ATTEST: LESSEE'S ASSIGNEE: Jean wis, Ci CI -r rbor Gateway, Inc. by James T. Pruitt, President 4t60 5 �2 CNN;. � m A S r� `� @R ` Z sj ��ay Texaco LeaseAmendm ent.wpd Page 3 " F '. 4 of 7 2004-00074-0 Consent: F ST NATIONAL BANK ALASKA By: Its BAA"i4 i_1Docs\43374106\Gateway Texaco LeaseAmendment_wpd Page 4 III()III III IIIitI��lIl'I III S of 7 2004•001074a STATE OF ALASKA ) )ss, THIRD JUDICIAL DISTRICT ) THIS IS TO CERTIFY that on this ` day of c,� - , 2004,before me,the undersigned, a Notary Public in and for the State of Alaska, personally appeared--P i •Shea#y, known to me and to me known to be the City Manager for the City of Seward, 61 Alaska,and acknowledged to me that he knew the contents of the foregoing document and executed the foregoing document on behalf of the City of Seward for the uses and purposes therein set forth. WITNESS my hand r ' al the day and year first hereinabove written. co woo I o r 1 "(JB00 a Notary Public in and for Alaska oi 2r-7 °-sAt oFN� °'�,�a My Commission Expires: -�/L- 0000rwso•+• STATE OF ALASKA ss. THIRD JUDICIAL DISTRICT ) THIS IS TO CERTIFY that on this day of,_'Lulaf. 2004, before me the undersigned,a Notary Public in and for the State of Alaska,personally appeared James Pruitt,known to me and to me known to be the individual named herein and acknowledged to me that he knew the contents of the foregoing document and executed the foregoing document for the uses and purposes therein set forth. WITNESS my hand and notarial seal the day and year first hereinabove written. f- -� Notary Public in and for Alas, My Commission Expires: lol-I NOTARY PUBLIC -OF P 1ADocs1433741461Gateway Texaco LeaseAmendment.wpd Page 5 6 of 7 2004-001074-0 STATE OF ALASKA ) )ss. THIRD JUDICIAL DISTRICT } THIS IS TO CERTIFY that on this day ofmnoJ , 2004,before me,the undersigned,a Notary Public in and for the State of Alaska,personally appeared James T. Pruitt, known to me and tome known to be the President of Harbor Gateway, Inc., and acknowledged to me that he knew the contents of the foregoing document and executed the foregoing document on behalf of Harbor Gateway, Inc. for the uses and purposes therein set forth. WITNESS my han notarial seal the day and year first hereinabove written. NOTARY Notary Public in and forAlask PUBLIC My Commission Expires: 0j-/O-0260,T STATE OF ALAS yP OF }ss. THIRD JUDICIAL DISTRICT } THIS IS TO CERTIFY that on this r7r—' day of Ovn , 2004,before me,the undersigned, a Notary Public in and for the State of Alaska, personally appeared j 5 known to me and to me known to be the A/C f. MaXN6 at First National Bank Alaska, and acknowledged to me that she/he knew the contents of the foregoing document and executed the foregoing document on behalf of Harbor Gateway, Inc.for the uses and purposes therein set forth. WITNESS my hand and notarial seal the day and year first hereinabove written. . •: t ._ • • I Notary Public in ana��_AlasKa My Commission Expires: Return to. City of Seward Harbor Department PO Box 167 Seward, AR 99664 1ADocs1433741061Gateway Texaco LeaseAmendment.wpd Page 6 7 of 7 2004-001074-0