HomeMy WebLinkAbout88-558 - Resolutions RESOLUTION NO. 88-558
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, C~IFORNIA, APPROVING A SUBORDINATION AGREEMENT
FROM WILLIAM AND PENNY MC ALPINE AND AUTHORIZING THE MAYOR
AND CITY CLERK TO SIGN SAME
WHERF~, a Real Property Improvement Contract and Lien Agreement for
the installation of off-site improvements, including curb, gutter and pavement
was approved by City Council on August 6, 1981 and recorded in San Bernardino
County on August 17, 1981, Instrument No. 81-182271; and
WHEREAS, for the developer to secure financing for the project, the
lender requires that the above-mentioned lien be subordinate to the lien in
favor of the lender; and
WHEREAS, the developer has submitted a Subordination Agreement to that
effect for the City's approval and execution.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA DOES
HEREBY RESOLVE that said Subordination Agreement is approved and the Mayor is
authorized to sign said Subordination Agreement on behalf of the City of Rancho
Cucemonga, and the City Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 21st day of September, 1988.
AYES: Buquet, King, Wright, Brown, Stout
NOES: None
ABSENT: None
ATTEST:
~ y ~.. Authtlet, City Clef[ .....
Resolution No. 88-558
Page 2
I, BEVERLY A. AUTHELET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City Council of the City of Rancho Cucamonga,
California, at a regular meeting of said City Council held on the 21st day of
September, 1988.
Executed this 22nd day of September, 1988 at Rancho Cucamonga,
California.
~~[he~t, City Clerk