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RESOLUTION No, 5'e) j s" BQOK`�'1�a5� PAGES 59 <br />1 <br />2 WHEREAS, there has been presented to the City Council <br />3 of the City of Newport Beach, an Agreement between the City of <br />4 Newport Beach and the Newport Bay Company, wherein and whereby <br />5 the lease between the said parties, under date of March 24, 194.8, <br />6 is amended so as to cover certain real property as described on <br />7 Exhibit A attached to said Agreement, the amount of which real <br />8 property is less than that originally demised, and so as to de- <br />g crease the various amounts of minimum rental, and so as to omit <br />10 from the percentage rental gross operating revenue from the por- <br />11 tion of real property originally demised now going to the County <br />12 of Orange, and so as to provide for a means of reimbursing the <br />13 Newport Hay Company for the depreciated value of floats adjacent <br />14 to the portion of the originally demised premises going to the <br />15 County of Orange, so as to change the lease year from a fiscal <br />16 year to a calendar year, so as to release the City from all lia- <br />17 bility for damage arising out of the diminution of the originally <br />18 demised premises, and wherein and. whereby the entire agreement <br />19 is made conditional upon the settlement by the County of the title <br />20 question involved; and <br />21 WHEREAS, it appears to be for the best interests of the <br />22 citizens of the City of Newport Beach to enter into said Agree - <br />23 meat of Amendment, dated September 29, 1952; and. <br />24 NOW, THEREFORE, B E IT RESOLVED: That the City of New - <br />25 port Beach shall enter into said Agreement, dated September 29, <br />26 1952, and the Mayor and the City Clerk be, and. they are hereby, <br />27 authorized and directed to execute said Agreement for and in be- <br />$8 half of the City of Newport Beach, and the City Clerk is hereby <br />29 authorized. and directed to transmit to the Newport Bay Company <br />30 an executed copy of the said Agreement, <br />31 The above and foregoing Resolution was duly and regul- <br />32 arly passed and adopted by the City Council of the City of Newport <br />1 <br />