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Home My WebLink AboutContracts & Agreements_140-2003_CCv0001.pdf | � SHARES LEASE This Shares Lease(" kmentered into between the Citxwf�e�/a�do �"�~~~�, and Mike K8��/�f("Lessee"). Lessor and Lessee agree as follows: ^ ' A. Lessor is the owner of shares of the Capital Stock of Crafton Water Company ("Shares"); and B. Lessor desires to lease 10 of its Shares (hereinafter the"Leased Shares")to Lessee on the terms and conditions set forth hereinafter. 1. Lease. Lessor hereby agrees to lease the Leased Shares to Lessee and Lessee agrees to ie—ase same from Lessor for the purpose ofproviding water toLessea Said vvobsrshaUnot boused byLessee for hunnancunsunnpbtreatment to California Department ufHealth Services, Office ofDrinking Water Standards. ' 2. Term. The term ofthis lease shall begin unJuly 15. 2003and end- — on June � 1, 2004, (i n n oe /antnonathanoneyear) ('Leaaeterm'). Notwithstanding the foregoing, Lessee understands and agrees that(a)the real property owned bythe Lessor(^ aa~~' ~ Real Pnnpedy^)could bethe subject ufacondemnation proceeding nrother taking, (b)the Leased Shoreoorenotourpent|yaub/euttuaoundemnatioup/oceeoingoroth rtoki g (c) In the avanttheLensedShanesanath*oubjeutmaMorofauundemnadon --nd -ri~ the event the Leased Shares as described are the subject matter of a condemnation proceeding then in that event the entire amount of any such award shall bethe soleand axc-sivapnopertyofLaseorandtheLeaaeeshaUhavenuinheneatthenain. (d) /ntheeven'tha - - abohinguftheLeaaadShoneabyoundemnatiun. theninthateventthiaLeasesh-U -' ' i~~^~ondtheLasseaaheUbeenbt|edtuapnonatonafundoftheRentasdefineo herein below, and (e) there is no implied intention that this Lease or any rights or interest hereunderwill ~~ extended beyond the Lease Term. 8. Rent" Lessee hereby agrees to pay Lessor the sum of$660.00 upon execution of the Lease ��—the Leased Shares usset forth herein. Lessee further agrees tnpay Lessor the amount uf any stock assessment on said shares, which would result in an annual assessment in excess of$65.00 per share, if any, and any delivery or entitlement charge levied by Crafton Water Company for delivery ofwater associated with said shares. 4. AssigRabiljbL. Lessee hereby agrees that itshall not have the right toassignsublet or mv otke |aatronsferorenuumbertheLeasedShanaounderthiaLeaae ' 5. Lessor retains voting rights associated with uwners''/pofthe Leased Shares. S. Lessee hereby agrees tohold harnn/essLessor�unnany loss, cost, expense and u|oinnsahsingdirectly urindirauUyout of(a) oundennnationofthe Lessor's F�~o| Property or the Leased Shares prior tuexpiration ofthis Lease, this L anviponnnento| contamination ufany water a�endanttu the Leased SUenea �onnvvhotever cause. Leasorasaumesnunasponaibi|ityforth*qua/ih/orpurityofany -water attendant tuthe Leased Shares. This Lease ioexecuted onthe 15thday ufJuly 2O03. "Lessor" "Lessee-" Leasee- City ufRedlands K0ikeyWicaUef ll, BY� � - �^ � BY: SHARES LEASE This Shares Lease imentered into between the Citxwf�e�|undm �°-----' and Willis Bruns ("Lessee"). Lessor and Lessee agree as follows: ^ ' A. Lessor is the owner of shares of the Capital Stock of Crafton Water Company ("Shares"); and B� Lessor desires to lease 7 of its Shares (hereinafter the"Leased Shares")to Lessee on the terms and conditions set forth hereinafter. 1. Lease. Lessor hereby agrees to lease the Leased Shares to Lessee and Lessee agrees to /easesame from Lessor for the purpose ofproviding water toLessee. Said water shall not beused bvLessee for human consumption prior tutreatment byLeasoe to []epa�n�entufHealth Services, {}0iceufDrinking VVoberStandards. ' California 2. Term. The term ufthis lease shall begin unJuly 15. 2O03and end onJune1. 20 04' ( in n o event than (^Lea�� bann^)� Notwithstanding the Lessee understands and agrees that(a) the real property owned bythe Lessor(^ as--r'aReal Proparty^)could bethe subject ufacondemnation proceeding orother taking, (b)the Leased Shmnenomenutournant/ysub/euthoacundennat/onpnoceedinQ urother taN g (c) /n the event the Leased Shares are the subject matter ofacondemnation award or in the event the Leased Shares as described are the subject matter of a uundamnat/onproceeding then in that event the entire amount of any such award shall be the sole and exclusive property of Lessor and the Lessee shall have nointerest therein, (d) inthe - ioataking ofthe Leased Shares bycondemnation, then inthat event this Lease — i—aboandthe herein --|o� and (e) there isnoinnpUedintention that this Lease urany rights orinterest hereunder -will be extended beyond the Lease Term. J. Rent. Lessee hereby agrees to pay Lessor the sum of$462.00 upon execution of the Lease for the Leased Shares aaset forth herein. Lessee further agrees tupay Lessor the amount of any stock assessment on said shares, which would result in an annual assessment in excess ofsO5.00per share, ifany, and any delivery urentitlement charge levied bvCroftonVVater /�onnpanyfor delivery ufwater associated with said shares. ^ 4. Assignability. Lessee hereby agrees that itshall not have the right boassign, sublet or otherwise transfer urencumber the Leased Shares under this Lease. 5. V9#R9BJqW Lessor retains voting rights associated with ownership ofthe Leased Shares.0� Waiver. Lessee hereby agrees tuhold harmless Lessor from any loss, cost, expense and claims arising directly urindirectly out uf(a) condemnation ofthe Lessor's R-a| PnopedyurtheLeasedShan*spriurtnexpirationofthisLease. (b) this Lease, and (c)from any environmental contamination of any water attendant to the Leased Shares, from whatever cause. Lessor assumes no responsibility for the quality or purity of any water attendant to the Leased Shares. This Lease isexecuted onthe 15thday ofJuly 20O3. "Lessor:" ^ ^ Lessee: City ofRedlands Willis Bruns BY: � � �^�� BY: