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Sponsored by: Hunt <br /> r.. CITY OF SEWARD, ALASKA <br /> RESOLUTION 2012 -038 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AUTHORIZING THE CITY MANAGER TO ENTER INTO AN <br /> EXTENSION OF THE GROUND LEASE WITH SEWARD SHIP'S <br /> DRYDOCK, INC. FOR THE REAL PROPERTY DESCRIBED AS LOTS 1 -A <br /> AND 3, BLOCK 7, FOURTH OF JULY CREEK SUBDIVISION SEWARD <br /> MARINE INDUSTRIAL CENTER, SEWARD SHIP'S DRYDOCK REPLAT, <br /> ACCORDING TO PLAT 2002 -22, SEWARD RECORDING DISTRICT, <br /> THIRD JUDICIAL DISTRICT, STATE OF ALASKA <br /> WHEREAS, the City (Lessor) and Seward Ship's Drydock, Inc. (Lessee) entered into the <br /> current Ground Lease in 1995; and <br /> WHEREAS, the Ground Lease was extended in 2010 to 2016 to reflect the investment by <br /> the Lessee in improvements to the shiplift facility by replacing the cathodic protection system; and <br /> WHEREAS, the Lessee has made several other upgrades to the ship lift facility; and <br /> ism WHEREAS, the Lessee has completed the shiplift controls upgrade, the hoist pawl upgrade, <br /> partial coating of the breakwater cells, and replacement of the cathodic protection system; and <br /> WHEREAS, the parties desire to extend the lease. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SEWARD, ALASKA that: <br /> Section 1. The City agrees to accept the improvements based on representations by Lessee <br /> that the work was completed and Lessee has expended $346,001.25 on the Shiplift Control System <br /> Upgrade and $409,164.32 on the Hoist Pawl Solenoid Upgrade. <br /> Section 2. The Ground Lease is hereby extended until June 30, 2040. The City Manager is <br /> authorized to enter into an Agreement to Extend Ground Lease in substantially the same form <br /> presented at this meeting. <br /> Section 3. This resolution shall take effect 30 days after adoption. <br />