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Ordinance No. 8,267980507 -3 ORDINANCE NO. 8267 • AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, AUTHORIZING AN EXTENSION OF THE HOTEL CONSTRUCTION START DATE AS PROVIDED IN THE GROUND LEASE BETWEEN SENTERRA REAL ESTATE GROUP, L.L.C., AND THE CITY OF BAYTOWN; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. WHEREAS, the City of Baytown (the "City") and Senterra Real Estate Group, L.L.C. ( "Senterra ") entered into a ground lease agreement (the "Lease "), effective as of the 1 lth day of September, 1997; and WHEREAS, the Lease provided that the Lease would automatically terminate if Senterra did not commence construction of a hotel facility within two hundred forty (240) days following the effective date of the Lease, unless Senterra requested an extension of time twenty-one (21) days prior to the expiration of the two hundred forty (240) day period; and WHEREAS, Senterra furnished written notice that it desires a ninety -day extension of time in which to start construction of the hotel facility, citing unexpected delays as reason for its request for an extension; and WHEREAS, the City Council believes that such a ninety-day extension is not only appropriate, given Senterra's progress on the project to date, but also in the best interest of the City of Baytown; NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: All matters and facts set forth in the recitals above are found to be true, and are approved as the findings of the City Council of the City of Baytown. Section 2: That the City Council of the City of Baytown, Texas, hereby grants Senterra's request for a 90 -day extension of time in which to commence the construction of the hotel facility. As such, the Lease will automatically terminate within 330 days, instead of 240 days, following the effective date of the Lease unless Senterra requests an extension of time prior to the expiration of the 330 -day period in accordance with Article III, Section B of the Lease. Section 3: This ordinance shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of Baytown this the 71 day of May, 1998. PETE C. ALFARO, Mayor ATTEST: EILEEN P. "HALL, City Clerk APPROVED AS TO FORM: /_ " .000,41 • ACIO RAMIREZ, SR., Ci orney c: k)h821counci Rord i nances\Extens io no iSe n te rraG round L.ease.Ordinance