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Sponsored by: Hunt <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2014-044 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA,AUTHORIZING THE ASSIGNMENT OF THE GROUND LEASE <br /> WITH SEWARD SHIP'S DRYDOCK, INC. FOR THE REAL PROPERTY <br /> DESCRIBED AS LOTS 1-A AND 3,BLOCK 7,FOURTH OF JULY CREEK <br /> SUBDIVISION SEWARD MARINE INDUSTRIAL CENTER, SEWARD <br /> SHIP'S DRYDOCK REPLAT, ACCORDING TO PLAT 2002-22, SEWARD <br /> RECORDING DISTRICT, THIRD JUDICIAL DISTRICT, STATE OF <br /> ALASKA,TO VIGOR ALASKA-SEWARD,LLC,SUBJECT TO ASSIGNOR <br /> PROVIDING THE CITY PROOF OF ENVIRONMENTAL LIABILITY <br /> INSURANCE FOR FOUR(4)YEARS FROM THE DATE OF ASSIGNMENT, <br /> AND AUTHORIZING THE CITY MANAGER TO ENTER INTO <br /> AMENDMENT NO. 5 TO THE ASSIGNED GROUND LEASE <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 has been amended and extended,with the most recent in July <br /> 2012 extending the term until June 30, 2040; and <br /> boo <br /> WHEREAS, the lease authorizes assignment by the Lessee subject to city approval if the <br /> Lessee sells its vessel repair and construction business; and <br /> WHEREAS, Seward Ship's Drydock,Inc. desires to sell and Vigor Alaska- Seward, LLC <br /> desires to purchase the vessel repair and construction business operated on the leased land; and <br /> WHEREAS, Seward Ship's Drydock, Inc desires to assign its lease to Vigor Alaska - <br /> Seward, LLC, and Vigor Alaska desires to assume the lease; and <br /> WHEREAS, Vigor Alaska - Seward, LLC desires to amend the lease as presented at this <br /> meeting and attached hereto; and <br /> WHEREAS,the city requires the Assignor to provide the City with proof of environmental <br /> liability insurance naming the city as insured as a condition of assignment; and <br /> WHEREAS, city administration has negotiated the terms of the lease amendment, and the <br /> parties agree that a timely and efficient transfer is in the parties' and the public's interest; and <br /> WHEREAS,the City Charter,provisions of which cannot be waived by the council,requires <br /> that resolutions involving real property transfers become effective not less than thirty (30) days <br /> „�. following passage and approval. <br />