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HomeMy WebLinkAboutC-7670-2 - West Coast Highway, 3101 - MOL 2019RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder �1111 II[I 11111111 jjjj III jjIII jjjj 1111 11111111111111111 III N0 FEE *$ R 0 0 1 1 8 5 1 3 0 4$* 2020000343589 2:10 p m 07117120 65 414A M10 17 0.00 0.00 0.00 0.00 48.00 0.00 0.000.000.00 0.00 [Exempt from Recordation Fee - Govt. Code §§ 6103 & 27383] MEMORANDUM OF LEASE AGREEMENT (WITH OPTIONS FOR RENEWAL) THIS DOCUMENT IS RE-RECORDED TO CORRECT EXHIBITS "A" AND "B" IN THEIR ENTIRETY, AND TO REMOVE THE NOTE ON PAGE TWO. -1- Batch 4574995 Confirmation RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder NO FEE +$ R 0 0 1 0 8 3 3 9 6 3$ 20190001624619:36 am 05/15/19 9 NCR1 M11 10 0.00 0.00 0.00 0.00 27.00 0.00 0.000.000.00 0.00 [Exempt from Recordation Fee - Govt. MEMORANDUM OF LEASE AGREEMENT (WITH OPTIONS FOR RENEWAL) Seall 1133 This Memorandum of Lease Agreement (With Options for Renewal) ("Memorandum") is dated May _\�?L_, 2019, and is made between City of Newport Beach, a California municipal corporation and charter city ("Lessor" or "City") and Quay Works LLC, a California limited liability company ("Lessee"), concerning the Premises described in Exhibits A" and "B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee hires them from Lessor, for the term and on the provisions contained in the Agreement dated May 2019, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginning May , 2019, and ending May 13 , 2024, and one (1) additional successive "Renewal Term" of thirty (30) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. [Signatures on the next page] -1- https://gs.secure-recording.com/Batch/Confirmation/4574995 05/15/2019 RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 [Exempt from Recordation Fee - Govt. Code Sec. MEMORANDUM OF LEASE AGREEMENT (WITH OPTIONS FOR RENEWAL) This Memorandum of Lease Agreement (With Options for Renewal) ("Memorandum") is dated May -\12—, 2019, and is made between City of Newport Beach, a California municipal corporation and charter city ("Lessor" or "City") and Quay Works LLC, a California limited liability company ("Lessee"), concerning the Premises described in Exhibits A" and "B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee hires them from Lessor, for the term and on the provisions contained in the Agreement dated May , 2019, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginning May _L_, 2019, and ending May e� , 2024, and one (1) additional successive "Renewal Term" of thirty (30) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. [Signatures on the next page] -1- LESSOR City of Newport Beach, a California municipal corporation Grac . Oung City a ger ATTEST: Leilani I. E City Clerk APPROVED AS TO FORM: aron C. Harp City Attorney LESSEE Quay Works LLC, a California limited liability company Jack Jakosky :, fi> ,/Manager � -2- f1,11-100- t; ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of-� }ss. h 5On PIC"a , 2020 before me -PA �, tc('C � F - r l f z, C Notary Public, personally appeared = Ko5 K-� who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/ar-e- subscribed to the within instrument and acknowledged to me that hetshe4:i,- [ executed the same in his/"o4hek-authorized capacity(-iee�, and that by his/bezLtbeir signatures(sr on the instrument the person(.&r, or the entity upon behalf of which the person(o'acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my nd and official seal. Signature PATRICIA LEE FRISTOE Notary Public - California z Z Orange County > Commission -- 2207235 My Comm. Expires Aug 20, 2021 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Of2Ar- I G C } ss. (seal) On MAQ04 12 , 20 -LO before meAC-NtWC-I9- Ak.*) rn1XvE`I Notary Public, personally appeared CnRAt_.E k . LE V til proved to me on the basis of satisfactory evidence to be the person(sfiwhose nam€( -s) is/afe subscribed to the within instrument and acknowledged to me that he/she/they-executed the same in his/herAheir authorized capacity(iesj, and that by his/her/their signatures(st on the instrument the person(s), or the entity upon behalf of which the person( -s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WIT SS y hand and official seal.J(. i6m ennifer Ann Mulvey COMM #2214138 a UA Notary Public - California A ORANGE COUNTY %My CommIssionEx IresOn.t1,2021 Signatur (seal) LESSOR CITY OF NEWPORT BEACH, a California municipal corporation Grac . Leung City anager ATTEST: Leilani I. Brown City Clerk APPROVED AS TO FORM: Aaron C. H p City Attorney LESSEE QUAY WORKS LLC, , a California limited liability company Jack Jakosky Manager INX Exhib " and B g�(Ex men hib " to this mora m b d a, taqnNoorpqorm] -2- ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of 0",kr, }ss. I On a1L-, - , 20 before mer _` Notary ublic, personally appeared sT�(- �� 5v who proved to me on the basis of satisfactory evidence t6 be the person(8) whose nameF&j is/a4:e subscribed to the within instrument and acknowledged to me that heLs#s4hey executed the same in his{he4thcir authorized capacity(+es); and that by hisAietAhek signatures(&-)- on the instrument the person(s), or the entity upon behalf of which the person(s)-acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my nd and official seal. PATRICIA LEE FRISTOE NotaryPublic- California Z Z Orange County n Commission x 2207235 My Comm. Expires Aug 20, 2021 l or -loss" I Signature (seal) ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Opt AIJ(VE —_)ss. On 1M1A-) 1'3 . 2014 , 20 before me, jrpmw F EI2 AN N V" VL -4E%# Notary Public, personally appeared GIZAC.E K EVAIb proved to me on the basis of satisfactory evidence to be the person(&)whose name(.&) is/at<e subscribed to the within instrument and acknowledged to me that 4;0/she/they executed the same in h+5/her/tom authorized capacity(ies), and that by his/her/thr& signatures(&} on the instrument the personEs} or the entity upon behalf of which the person(acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS hand and off' 'al seal. Nit ennifc�r Ann Mulvcy COMM #2214138 Notary Public -California'^ORANGECOUNTY°y Commission Expires Oct.12, 2021 Si atYe (seal) EXHIBIT "A" DESCRIPTION OF PREMISES LEGAL DESCRIPTION An area of public tidelands, adjacent to 3101 Coast Hwy W, APN 049-130-18; as shown in Commercial Pier Permit #12830171, more particularly described as follows: Bound on the northwest and southeast by the prolongation of the parcel lines of Parcel 1, Resub 688, as recorded in Parcel Map book PM 184/38-39, recorded 12/08/1983; Bound on the Northeast by the U.S. Bulkhead Line, and on the southwest by the U.S. Pierhead Line; as shown upon a map entitled "Harbor Lines, Newport Bay Harbor, California ", approved May 2 1936 by the Secretary of War, and on file in the office of the U.S. District Engineer at Los Angeles, California, such area containing approximately 13,128 square feet. EXHIBIT "A" -1- EXHIBIT "A" DESCRIPTION OF PREMISES EXHIBIT "A" -2- EXHIBIT "A" DEFINITIONS itional Rent is defined in Section 4. Agreeivent is defined in the Preamble. ApplicabIt Law(s) mean and include, but are not limited to, those prescribed by Title 17 of the Newport B pch Municipal Code; any ordinances of the City of Newport Beach, including the Building Codi thereof; the City Charter of Newport Beach; any regulations, policies and general rules of the Coy of Newport Beach; the Tidelands Grant; Hazardous Substances Laws; CEQA; and any other deral, State or local statute, law, ordinance, resolution, code, rule, regulation, order or decree as ny of the same now exist or may hereafter be adopted or amended. Boat Slip Renters is�-7'-fined in Section 1(a)(i). CDP means a Coastal Dbvelopment Permit. CEQA means the Californian nvironmental Quality Act, codified at California Public Resources Code Sections 21000 et seq. may be amended from time -to -time. Claim(s) is defined in Section 22.E Commencement Date is defined in lection 3(a). Condemnation means a permanent taping of the Premises through (i) the exercise of any government power, by any public or quasi=public authority or by any other party having the right of eminent domain (Condemnor) or (ii) a voluntary sale or transfer by Lessor to any Condemnor, either under threat of exercise of eminent domain by a Condemnor or while legal proceedings for condemnation are pending. \. Gross Revenue for Slip Rentals means all receipts'of every kind and nature, whether for cash, credit or barter, received/due for the rental or use '�f a slip, dock, or pier on the Premises. Without limiting the breadth of the prior sentence, Gross,evenue for Slip Rentals shall include, without limitation, receipts of every kind and nature derived from any promotion, package deal, service, or other item that is associated in any way with the rental or use of a slip, dock, or pier on the Premises, excluding pass-through of direct third -party 61harges (e.g., electricity, cable N, etc.) without markup by Lessee. For purposes of determining Gr�oss Revenue for Slip Rentals any fixed, annual, monthly and/or recurring charge that a person or`entity is required to pay shall be counted as part of the Gross Revenue for Slip Rentals. Gross Revenue for Slip Rentals shall not be offset or reduced for any reason, including, but not limited to, the payment of taxes, fees, repairs, maintenance, construction, or inability or failure to collect any cash, credit, or barter due for the use of a slip, dock, or pier on the Premises. �. Hazardous Substance means: (i) any substance, product, waste or other, material of any nature whatsoever which is or becomes listed, regulated, or addressed �pursuant to the Comprehensive Environmental Response, Compensation and Liability Act 42 U.S.C. Section 9601 et seq. (CERLCA); the Hazardous Materials Transportation Act, 49 U.C. Section 1801, etseq.; the Resource Conversation and Recovery Act, 42 U.S.C. Section 6101 et seq. "RCRA"); the Toxic Substances Control Act, 15 U.S.C. Section 2601 et seq.; the Cleen Water EXHIBIT "A" -1- ct, 33 U.S.C. Section 1251 et seq.; the California Hazardous Waste Control Act, Health and fety Code Section 25100 et seq.; the California Hazardous Substance Account Act, Health an Safety Code Sections 25330 et seq.; the California Safe Drinking Water and Toxic En."cement Act, Health and Safety Code Sections 25249.5 et seq.; California Health and Safet Code Sections 25280 et seq. (Underground Storage of Hazardous Substances); the Califor\1aelta azardous Waste Management Act, Health and Safety Code Sections 25170.1 et seq.lifornia Health and Safety Code Sections 25501 et seq. (Hazardous Materials Respolans and Inventory); or the Porter -Cologne Water Quality Control Act, Water Code Sectio0 et seq., all as they, from time -to -time may be amended or re -codified, (the above-st utes are here collectively referred to as lithe Hazardous Substances Laws") or any oteder State or local statute, law, ordinance, resolution, code, rule, regulation, order or decegulati relating to, or imposing liability or standards of conduct concerning, any hazardtoxic or ngerous waste, substance or material, as now or at any time hereafter in effect; y substan e, product, waste or other material of any nature whatsoever which may give riliability un r any of the above statutes or under any statutory or common law theory,ding but not li *ted to negligence, trespass, intentional tort, nuisance, waste or strict liabilitynder any report decisions of a state or federal court; (iii) petroleum or crude oil; and (ivestos. Improvements are owned by Lesand mean those items described on Exhibit "B" as they may be modified, altered, restored, o ebuilt pursuant to this Agreement. Leasehold Estate means Lessee's inter4t in the Premises created by this Agreement. Leasehold Mortgage means a Transfer ors urity instrument by which the Leasehold Estate is used to secure a debt or other obligation arisin from or related to Lessee's use or operation of the Premises. Leasehold Mortgagee means a holder or holde\pen hold Mortgage. Lease Term Year means each twelve (12) mginning on the Commencement Date(or anniversary thereof) and ending on to the next anniversary of the Commencement Date. Lessee is defined in the Preamble. Lessor is defined in the Preamble. Marina Index is comprised of the marinas listed in the resolution incorpor'kted by Section 4 Market Adjustment Date means March 1, 2018 and every fifth (5th),anniversary year thereafter. Option Notice is defined in Section 3(b)(i). Other Real Property is defined in Section 16(b). Premises means those Tidelands which is an independent site with no land accessnsisting of approximately 13,128 square feet water area located generally at 3101 West Coast hway, in the City of Newport Beach, California, more particularly described in Exhibit F and de icted on the map set forth in Exhibit G, excluding any private water and Improvements. EXHIBIT "A" -2- Renewal Term(s) is defined in Section 3(b). Rent is defined in Section 4. Indexed Rate is defined in the resolution incorporated by Section 4. TehR is defined in Section 3(a). i iaeian s means certain tidelands and submerged land (whether filled or unfilled), located in the City o ewport Beach, County of Orange, State of California granted to the City of Newport Beach, as tr tee, by the State of California pursuant to the Tidelands Grant. Tidelands GrantNneans uncodified legislation related to the State of California's grant of certain rights in the Tidelas to the City of Newport Beach, including, without limitation, the Beacon Bay Bill (Chapter 74 o he Statutes of 1978, as amended [citations omitted]). Transfer(s) means any empt to sell, convey, assign, transfer, mortgage, pledge, grant, hypothecate or encumber thi Agreement or any interest in this Agreement, or the Premises or any portion of the Premises, a d any attempt to sublet (which shall also include management and/or operating agreements co ring the Premises), license or grant any concession to the Premises, in whole or in part, or a w any person other than Lessee's employees, members, agents, servants and invitees to occup or use all or any portion of the Premises. EXHIBIT "A" -3- EXHIBIT "B" DEPICTION OF PREMISES EXHIBIT "B" EXHIBIT "B" 6351 Industry Way, SWIFT SLIP DOCK & PIER BUILDERS, INC Phone�949) 631-3121 Westminster 92683 Fax: (714) 509-0618 CLIENT: - Jakosk Jack 10 1 —1.0 9/2$/1$ AMENDMENTS: SITE: DT�XTJ: Cht. REVISION DATE DESCRIPTION: BY: DATE: Section 1: 310 W Coast Hwy Newport Beach, CA (Pile Placement) - RePlaca 12' cracka0 Pan VV, naw tY SIE,CTION 1 STRESSED 0 E TO BE MOVED UP MAKE ROOM FOR GANGWAY 16' PILE MOVE T0�^ �G7d5' NOIW 12' SPOT IN (SECTION 3) Undv Cangwty 1E' PILE MOVE % ZAOKEO 1T SPOT (PILE k2) 12' PILE TO BE REPLACED WITH 1E' PILE 66' L GANGWAY 12* CRACKED PILO 14' PRE SiRESSEf/ SEAWALL INSTALL NEW 12- PILE Batch 4574995 Confirmation RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder 11 1111111111111111111111111111111111111111111 II NO FEE *$ 8 0 0 1 0 8 3 3 9 6 3$* 20190001624619:36 am 05/15/19 9 NCR1 M11 10 0.00 0.00 0.00 0.00 27.00 0.00 0.000.000.00 0.00 [Exempt from Recordation Fee - Govt. Code Sec.11'5133 MEMORANDUM OF LEASE AGREEMENT (WITH OPTIONS FOR RENEWAL) This Memorandum of Lease Agreement (With Options for Renewal) ("Memorandum") is dated May 2019, and is made between City of Newport Beach, a California municipal corporation and charter city ("Lessor" or "City") and Quay Works LLC, a California limited liability company ("Lessee"), concerning the Premises described in Exhibits A" and °B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee hires them from Lessor, for the term and on the provisions contained in the Agreement dated May I''? , 2019, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginning May Q) , 2019, and ending May 2024, and one (1) additional successive "Renewal Term" of thirty (30) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. [Signatures on the next page] -1- https://gs.secure-recording.com/Batch/Confirmation/4574995 05/15/2019 RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 [Exempt from Recordation Fee - Govt. Code Sec. e -j MEMORANDUM OF LEASE AGREEMENT (WITH OPTIONS FOR RENEWAL) This Memorandum of Lease Agreement (With Options for Renewal) ("Memorandum") is dated May , 2019, and is made between City of Newport Beach, a California municipal corporation and charter city ("Lessor" or "City") and Quay Works LLC, a California limited liability company ("Lessee"), concerning the Premises described in Exhibits A" and "B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee hires them from Lessor, for the term and on the provisions contained in the Agreement dated May , 2019, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginning May 9� , 2019, and ending May �� , 2024, and one (1) additional successive "Renewal Term" of thirty (30) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. [Signatures on the next page] -1- LESSOR CITY OF NEWPORT BEACH, a California municipal corporation LESSEE QUAY WORKS LLC, , a California limited liability company Grac . Leung Jack Jakosky City anager Manager ATTEST: M-1 Leilani I. Brown City Clerk APPROVED AS TO FORM: Aaron C. H 4pp City Attorney [NOTE: Attach Exhibits A and B from Agreement as Exhibits to this Memorandum behind attached Notary form] -2- ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of C i -cm -A ss. II ,, 1 On lc^ 20 before me, '?� l� (�-- �' 1' 15'1 �- Not ary ublic, personally appeared ST�� , 5L�=j who proved to me on the basis of satisfactory evidence t6 be the person(s-) whose name(&) is/aFe subscribed to the within instrument and acknowledged to me that he/sheAhay- executed the same in his/hegtha r authorized capacity(ie4, and that by hisiher4th f signatures(&)- on the instrument the person(s), or the entity upon behalf of which the person(s�-acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my nd and official seal. V PATRICIA LEE FRISTOE r Notary Public - California Z z Orange County D Commission x 2207235 My Comm. Expires Aug 20, 2021 Signature (seal) ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Ole- P.t4(VE __)ss. On ►'V►lA,) 13. 2,014 , 20 before me, J6NN1FE12 ANN MVLVE`I Notary Public, personally appeared GRAC-E K Evt�lb proved to me on the basis of satisfactory evidence to be the person(s -whose name(,&) is/aye subscribed to the within instrument and acknowledged to me that 40/she/they executed the same in his/her/tip authorized capacity(ies),, and that by hsisfher/tler& signatures(* on the instrument the person(; or the entity upon behalf of which the person(&) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS hand and off' 'al seal. Icnnifcr Ann Muwey W ��;.. = COMM M2214138 a Q _ 9 Notary Public - Califomi� �M �ORANG�COp�N2o21 i Si f atMe \ (seal) EXHIBIT "A" DEFINITIONS Additional Rent is defined in Section 4. Agreement is defined in the Preamble. Applicable Law(s) mean and include, but are not limited to, those prescribed by Title 17 of the Newport Beach Municipal Code; any ordinances of the City of Newport Beach, including the Building Code thereof, the City Charter of Newport Beach; any regulations, policies and general rules of the City of Newport Beach; the Tidelands Grant; Hazardous Substances Laws; CEQA; and any other Federal, State or local statute, law, ordinance, resolution, code, rule, regulation, order or decree as any of the same now exist or may hereafter be adopted or amended. Boat Slip Renters is defined in Section 1(a)(i). CDP means a Coastal Development Permit. CEQA means the California Environmental Quality Act, codified at California Public Resources Code Sections 21000 et seq. as may be amended from time -to -time. Claim(s) is defined in Section 22. Commencement Date is defined in Section 3(a) Condemnation means a permanent taking of the Premises through (i) the exercise of any government power, by any public or quasi -public authority or by any other party having the right of eminent domain (Condemnor) or (ii) a voluntary sale or transfer by Lessor to any Condemnor, either under threat of exercise of eminent domain by a Condemnor or while legal proceedings for condemnation are pending. Gross Revenue for Slip Rentals means all receipts of every kind and nature, whether for cash, credit or barter, received/due for the rental or use of a slip, dock, or pier on the Premises. Without limiting the breadth of the prior sentence, Gross Revenue for Slip Rentals shall include, without limitation, receipts of every kind and nature derived from any promotion, package deal, service, or other item that is associated in any way with the rental or use of a slip, dock, or pier on the Premises, excluding pass-through of direct third -party charges (e.g., electricity, cable TV, etc.) without markup by Lessee. For purposes of determining Gross Revenue for Slip Rentals any fixed, annual, monthly and/or recurring charge that a person or entity is required to pay shall be counted as part of the Gross Revenue for Slip Rentals. Gross Revenue for Slip Rentals shall not be offset or reduced for any reason, including, but not limited to, the payment of taxes, fees, repairs, maintenance, construction, or inability or failure to collect any cash, credit, or barter due for the use of a slip, dock, or pier on the Premises. Hazardous Substance means: (i) any substance, product, waste or other material of any nature whatsoever which is or becomes listed, regulated, or addressed pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq. (CERLCA); the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq.; the Resource Conversation and Recovery Act, 42 U.S.C. Section 6901 et seq. "RCRA"); the Toxic Substances Control Act, 15 U.S.C. Section 2601 et seq.; the Clean Water EXHIBIT "A" -1- Act, 33 U.S.C. Section 1251 et seq.; the California Hazardous Waste Control Act, Health and Safety Code Section 25100 et seq.; the California Hazardous Substance Account Act, Health and Safety Code Sections 25330 et seq.; the California Safe Drinking Water and Toxic Enforcement Act, Health and Safety Code Sections 25249.5 et seq.; California Health and Safety Code Sections 25280 et seq. (Underground Storage of Hazardous Substances); the California Hazardous Waste Management Act, Health and Safety Code Sections 25170.1 et seq.; California Health and Safety Code Sections 25501 et seq. (Hazardous Materials Response Plans and Inventory); or the Porter -Cologne Water Quality Control Act, Water Code Sections 13000 et seq., all as they, from time -to -time may be amended or re -codified, (the above-cited statutes are here collectively referred to as lithe Hazardous Substances Laws") or any other Federal, State or local statute, law, ordinance, resolution, code, rule, regulation, order or decree regulating, relating to, or imposing liability or standards of conduct concerning, any hazardous, toxic or dangerous waste, substance or material, as now or at any time hereafter in effect; (ii) any substance, product, waste or other material of any nature whatsoever which may give rise to liability under any of the above statutes or under any statutory or common law theory, including but not limited to negligence, trespass, intentional tort, nuisance, waste or strict liability or under any reported decisions of a state or federal court; (iii) petroleum or crude oil; and (iv) asbestos. Improvements are owned by Lessee and mean those items described on Exhibit "B" as they may be modified, altered, restored, or rebuilt pursuant to this Agreement. Leasehold Estate means Lessee's interest in the Premises created by this Agreement. Leasehold Mortgage means a Transfer or security instrument by which the Leasehold Estate is used to secure a debt or other obligation arising from or related to Lessee's use or operation of the Premises. Leasehold Mortgagee means a holder or holders of the Leasehold Mortgage. Lease Term Year means each twelve (12) month period beginning on the Commencement Date (or anniversary thereof) and ending on the day prior to the next anniversary of the Commencement Date. Lessee is defined in the Preamble. Lessor is defined in the Preamble. Marina Index is comprised of the marinas listed in the resolution incorporated by Section 4. Market Adjustment Date means March 1, 2018 and every fifth (5th) anniversary year thereafter. Option Notice is defined in Section 3(b)(i). Other Real Property is defined in Section 16(b). Premises means those Tidelands which is an independent site with no land access consisting of approximately 13,128 square feet water area located generally at 3101 West Coast Highway, in the City of Newport Beach, California, more particularly described in Exhibit F and depicted on the map set forth in Exhibit G, excluding any private water and Improvements. EXHIBIT "A" -2- Renewal Term(s) is defined in Section 3(b). Rent is defined in Section 4. Target Indexed Rate is defined in the resolution incorporated by Section 4. Term is defined in Section 3(a). Tidelands means certain tidelands and submerged land (whether filled or unfilled), located in the City of Newport Beach, County of Orange, State of California granted to the City of Newport Beach, as trustee, by the State of California pursuant to the Tidelands Grant. Tidelands Grant means uncodified legislation related to the State of California's grant of certain rights in the Tidelands to the City of Newport Beach, including, without limitation, the Beacon Bay Bill (Chapter 74 of the Statutes of 1978, as amended [citations omitted]). Transfer(s) means any attempt to sell, convey, assign, transfer, mortgage, pledge, grant, hypothecate or encumber this Agreement or any interest in this Agreement, or the Premises or any portion of the Premises, and any attempt to sublet (which shall also include management and/or operating agreements covering the Premises), license or grant any concession to the Premises, in whole or in part, or allow any person other than Lessee's employees, members, agents, servants and invitees to occupy or use all or any portion of the Premises. EXHIBIT "A" -3- EXHIBIT "B" IMPROVEMENTS EXHIBIT "B" SWIFT SLIP DOCK & PIER BUILDERS, INC qw CLIENT: 6351 Industry Way, Westminster 92683 Phone�949) 631-3121 Fax: (714) 509-0618 Jakosky, ,lack 10 - 1.0 11/08/18 DRAWN: Cheam nmA. ON OAiE: SRE: Section 3: 3101 W Coast Hwy Newport Beach, CA (048' Dock) SECTION 3 AMENDMENTS: DEBCRIATION: BY: DATE: SWIFT SLIP DOCK & PIER BUILDERS, INC 6351 Industry Way, Westminster 9268 PhoneJ949) 631-3121 Fax: (714) 509-0618 CLIENT: Jakosky, Jack 10 — 1.0 9/28/18 SITE: Dmm: Checked REVISION DATE: Section 1: 3101 W Coast Hwy Newport Beach, CA (Pile Placement) AMENDMENTS: DESCRIPTION; DATE: Dur 'OR GANGWAY