RESOLUTION NO. 2020-0630 (Sponsored by: Honorable Teodoro M. Quicoy) "A RESOLUTION AUTHORIZING HONORABLE CITY MAYOR SAMUEL S. CO TO RENEW AND SIGN THE CONTRACT OF LEASE TO BE ENTERED INTO BY AND BETWEEN THE CITY GOVERNMENT OF PAGADIAN AND THE ROBINSON'S SUPERMARKET FOR THE EXTENSION OF THE LATTER'S UTILIZATION OF AN AREA OF 2,455 SQUARE METERS AT THE BASEMENT FLOOR OF THE CITY COMMERCIAL CENTER (C3) FOR A SPECIFIC PERIOD OF FIVE (5) YEARS FROM DECEMBER 01, 2020 UP TO NOVEMBER 30, 2025 WITH A RENTAL ESCALATION ADJUSTMENT OF FIVE (5%) PERCENT AND AN ANNUAL INCREMENT OF FIVE PERCENT (5%) EVERY YEAR THEREAFTER" WHEREAS, following the information that the five (5)-year Lease Contract of Robinson's Supermarket at the basement floor of the City Commercial Center (C3) is about to expire on November 30, 2020, the City Commercial Center (C3) Board, by way of its Resolution No. 12, Series of 2020, recommends to grant the Honorable City Mayor with the necessary legislative authority to renew the Lease Contract of Robinsons Supermarket for another period of Five (5) Years with a Rental Escalation Adjustment of Five (5%) Percent and an Annual Increment of Five (5%) Percent; WHEREAS, this body, recognizing the urgency and importance of the foregoing matter, finds it appropriate and in order to clothe the City Chief Executive with the authority to renew the Contract of Lease with the Robinson's Supermarket, hence, this passage; NOW, THEREFORE, on seconded motion of Honorable Teodoro M. Quicoy, be it RESOLVED to authorize, as this body hereby authorizes Honorable City Mayor Samuel S. Co to renew and sign the Contract of Lease to be entered into by and between the City Government of Pagadian and the Robinson's Supermarket for the extension of the latter's utilization of an area of 2,455 square meters at the basement floor of the City Commercial Center (C3) for a specific period of five (5) years from December 01, 2020 up to November 30, 2025 with a Rental Escalation Adjustment of Five Percent (5%) and an Annual Increment of Five Percent (5%) every year thereafter. RESOLVED FURTHER, to let copies of this Resolution be forwarded to His Honor, City Mayor Samuel S. Co, for his favorable consideration; to the City Legal Officer; and the Manager-City Commercial Center (C3), for their information, guidance and/or appropriate action. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. MAPHILINDO Q. OBAOB, MPA, MAGaD Verified: City Vice Mayor/Presiding Officer ATTY. TEODORO M. QUICOY SP Member/Floor Leader Attested: ELKID P. NACUA Secretary to the Sangguniang Panlungsod