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JOHN F. CHEADLE <br /> November 9, 1985 <br /> Page <br /> 2 . .�- c c all ..#they have requested so-called "right cif <br /> first refusal" on the sane acreage. Said right to became effec- <br /> tive at the time the option has expired. They again will not pay <br /> any consideration therefor. It is our belief that no one will <br /> make an offer on real property that is sukaect to a Spanos right <br /> of first refusal. As a consequence they will effectively tie up <br /> the property not only for the option period, but for the right of <br /> first refusal period a well. All, with nits consideration what- <br /> eoevr ` el. <br /> paid to the County. <br /> .x Additionally, Spanos wants the rental increased b tk�e <br /> sirp 06i k11 :'r s iced:- +durin a „ - ._ :, .^..:.;;;: <br /> w., g i ye r' p riod <br /> effe dbs it -preclude any increase for the first`'fiVe ear. <br /> . <br /> ere�i thCbgh the Cpl may...have increased �n each: of 'hose f��e <br /> yeares. s anexa,mpl The rent will be a fa:.x:ed rent for the <br /> fest five Ye$r peri id. °hen the rend for the ecrr�.rl .five year <br /> period <br /> a .1 b+s predicated upon the CPP increase ria-litied f�c�m <br /> the first tta the fifth year; however, ;not to e ;cse five pe; et. <br /> + e WiI.I lase revenue by niat increasing the rental to ori amtunt <br /> e u l to the dPf lhcrease in each <br /> k q year of the term <br /> Hypothet�.cal.,ly, if the rental for the first five years:.were. <br /> 1, 000 per, month, it wou;L"d remain at $11 00,0 per month. ' dor the <br /> first five years there would tae no compotxndxng of the Cilli -Which <br /> t <br /> should die standard in ani lease. <br /> They will b replacing fuel. tanks . Spanos has told Us <br /> that the tanks will cost $135,000. They have asked that we. <br /> reduce the par g�illon fuel. flowage fee from fire cents per gal�t�n <br /> to <br /> our cents per gallon= This represent a r�.duc ion- €�f ribs <br /> Cetat. This reduction will stay in place until succi time as the; , <br /> +cne cent- red�ct.ion par gallon equals a total o $135,000, plus <br /> interest at the rate of one percent over prime per year on the <br /> declining balance. What this in effect does i have the County <br /> buy their tanks for them. They would have the right to assign r <br /> sell. the: fuel tanks at any time with nothing back to tl�e z my <br /> This is :really an untenable situation as will be further <br /> explained below. <br /> 5. They request that the fuel flowage fee be pegged at four <br /> :. cents per gal=lon, as >above explained i <br />