HomeMy WebLinkAboutRes1994-055
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Sponsored by: Jones
CITY OF SEWARD, ALASKA
RESOLUTION NO. 94-055
ARESOLUTIONOFTImCITYCO~CaOFTImCITY
OF SEWARD, ALASKA, AUTIlORIZING TIm EXECUTION OF AN
AGREEMENT TO TERMINATE CONSENT AGREEMENT RELATED
TO TIm COAL FACalTY
WHEREAS, the Alaska Railroad Corporation (the" ARRC") has leased to Suneel Alaska
Corporation (Suneel) certain property (the "Leasehold") in the city of Seward (the "City") on
which Suneel has constructed a coal terminal facility; and
WHEREAS, in 1984, the City issued revenue bonds for the benefit of Suneel to finance
the construction of the coal terminal facility; and
WHEREAS, the City, the ARRC and Suneel entered into a Consent Agreement (the
"Consent Agreement") that was recorded in the Seward Recording District, under which the
ARRC consented to the granting to the City by Suneel of a deed of trust to the Leasehold to
secure the revenue bond fmancing, and to certain actions of the City as beneficiary under the
deed of trust; and
WHEREAS, Suneel never executed the deed of trust contemplated by the Consent
Agreement, and the revenue bonds issued by the City to finance the coal terminal facility have
been retired; and
WHEREAS, to clear title to the property leased to Suneel, the ARRC has requested that
the City execute the Agreement to Terminate Consent Agreement that is attached hereto; and
WHEREAS, it appears that execution of the Agreement to Terminate Consent Agreement
by the City will not be prejudicial to the interests of the City;
NOW, THEREFORE, BE IT RESOLVED BY TIm CITY co~ca OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The city manager is hereby authorized to execute the Agreement to Terminate
Consent Agreement attached hereto on behalf of the City and deliver the same to the other
parties thereto.
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 9th
day of May, 1994.
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AGREEMENT TO TERMINATE
CONSENT AGREEMENT
THIS AGREEMENT is made on the date set forth hereinafter, among the Alaska
Railroad Corporation, an Alaska public corporation created pursuant to AS 42.40
("ARRC"), the City of Seward, an Alaska municipal corporation ("Seward"), and Suneel
Alaska Corporation, an Alaska business corporation ("Suneel").
RECITALS
WHEREAS, under the tenns of ARRC Contract No. 69-25-0003-5355, as
supplemented, Suneel has leased from ARRC certain property located in the City of
Seward ("the leasehold"); and
WHEREAS, Suneel has constructed on the leasehold a coal loading facility; and
WHEREAS, on 27 July 1984, the parties hereto executed a Consent Agreement,
which is recorded at Book 51, Page 445, of the records of the Seward Recording District,
and under the tenns of which ARRC consented to the granting to Seward by Suneel of
a Deed of Trust to the leasehold and to certain actions of Seward as beneficiary under
the Deed of Trust; and
WHEREAS, Suneel never executed the Deed of Trust contemplated by the
aforementioned Consent Agreement; and
WHEREAS, the failure to execute the Deed of Trust has resulted in the absence
of any lien or encumbrance of the leasehold for the benefit of Sewardj and
WHEREAS, the parties hereto agree that Seward no longer needs or desires a lien
or encumbrance on the leaseholdj and
WHEREAS, the parties hereto desire to tenninate the aforementioned Consent
Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, IT IS AGREED:
1. Tennination of Consent Agreement. That certain Consent Agreement dated
27 July 1984 among Suneel, Seward and ARRC is hereby tenninated in its entirety and
the parties hereto specifically agree that the aforementioned Consent Agreement shall be
without any force and effect whatsoever.
2. Merger. This Agreement constitutes the entire understanding among the
parties hereto with regard to all matters contained herein.
3. Situs. This Agreement shall be interpreted according to the laws of the State
of Alaska.
4. Effective Date. This Agreement shall be effective when signed by the last
party hereto.
DATED:
THE ALASKA RAILROAD CORPORATION
By:
Its:
DATED:
SUNEEL ALASKA CORPORATION
By:
Its:
DATED:
CITY OF SEWARD, ALASKA
APPROVED AS TO FORM
Wohlforth, Argetsinger, Johnson
& Brecht, Attorneys for the City
of Seward, Alaska
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City Attorney
TYLER JONES, CITY MANAGER
STATE OF ALASKA )
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THIRD JUDICIAL DISTRICf )
The foregoing instrument was acknowledged before me this 10th day of May,
1994, by Tyler Jones, City Manager of the City of Seward, Alaska.
(City Seal) Linda S. Murphy, City Clerk
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 94-055
THE CITY OF SEWARD, ALASKA
~ W. ~,
Dave W. Crane, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Crane, Darling, Krasnansky, O'Brien & Sieminski
None
None
None
ATTEST:
APPROVED AS TO FORM:
Wohlforth, Argetsinger, Johnson & Brecht,
Attorneys for the city of Seward, Alaska
~f~
City Attorney
(City Seal)