HomeMy WebLinkAboutContracts & Agreements_72-2001_CCv0001.pdf SHARES LEASE
This Shares Lease entered into between the the CdvofRedlands ("Lmsmmr") and Peter
E�umye (" ' Lessor and Lessee agree aofoUovvo: ^
A. Lessor is the owner ofshares ofthe Capital Stock ofCraftonWater ("Shares"); and
B Lessor desires to lease 16 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
lease same from Lessor for the purpose ofproviding water toLessee. Said water shall not
_b_e_used byLessee for human oonsunpUonphortotnaatn*e�ntby Lessee,
se�a—'
to California
"DapednantofHea|th Servioea. Office ofDhkinQ |e'Standards.2� Term. The term ofthis lease shall begin onMay 15. 2001 and end onApr' 30- 2002'
(
in
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oeventnonathanoneyeor) (^Leasete . ^), Notwithstanding the foregoingLessee
understands and agrees that(a) the real property owned bvthe Lessor(^ --`-' ~ Real
Pnopedy^)could bethe subject ofacondemnation proceeding »/»thar taking, (b) the Leased dSha»ouona »ot«urrent|ysubjeottoaoondemnationprouenoingorothartak|nQ (c) In the
event the Leased Shares are the subject matter of a condemnation award or in 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 be the sole and exclusive property of
Lessor and the Lessee shall have no interest therein, (d) in the event there is a taking of the
Leased Shares by condemnation, then in that event this Leasel terminate~' ~ ^ '^LeumeauhaUbeentit|edtoapnonatanefundoftheRentaadexneo »*ro/»below. a»U (e) theneis »oimp/kadintentionthatthiaLeaaeoranyhghtaorinterest hereunder will Ueextended
beyond the Lease Term.
3, Rent, Lessee hereby agrees topay Lessor the sum of$|.13GO0upon execution ofthe
Laaoafor the Leased Shares aaset forth herein.
4. esaeehereby agrees that itshall not have the right toassign, sublet or
otherwise transfer orencumber the Leased Shares under this Leaoe
5 Lessor retains voting rights associated with ownera''ipofthe Leased Shares.
G, Lessee hereby agrees tohold harmless Lessor�omany loss, cost expense and
o/ainnsahsingdirectly orindirectly out of(a) condemnation ofthe L`-~~�sReal Property or
the Leased Shares prior toexpiration ofthis Lease, this L
onvinonnnenbs| contamination ofany water a�endanttothe Leased Shanau hnnnvxhatever
cause. Losuoraaaumeanonesponaibi|ityforthequa|ityorpuhtyofany -water attendant tothe
Leased Shares.
/p7nds hday of��ay2001
''Leasor^ "Lessee:"
Lessee:
City of Red PeterBuoy
BY
� BY: