HomeMy WebLinkAbout04-116 - Resolutions RESOLUTION NO. 04-116
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING A
SUBORDINATION AGREEMENT FROM RUSSELL L. AND JODI
KAY AND AUTHORIZING THE MAYOR AND CITY CLERK TO
SIGN SAME
WHEREAS, 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 September 19, 1984,and recorded in San Bernardino CountyOctober4, 1984, Instrument
No. 84-238883; and
WHEREAS,forthe developerto secure financing for the project,the lenderrequires
that the above-mentioned lien agreement 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, BE IT RESOLVED by the City Council of the City of Rancho
Cucamonga, California, that said Subordination Agreement be and the same are hereby approved
and the Mayor is hereby authorized to sign said Subordination Agreement on behalf of the City of
Rancho Cucamonga, and the City Clerk attest thereto.
Please see the following page
for formal adoption,certification and signatures
Resolution No. 04-116
Page 2 of 2
PASSED, APPROVED, AND ADOPTED this 7`h day of April 2004.
AYES: Alexander, Gutierrez, Howdyshell, Kurth, Williams
NOES: None
ABSENT: None
ABSTAINED: None
6zl
William . Alexand r, Mayor
ATTEST:
Debra J. Ada CMC, City Clerk
I, DEBRA J.ADAMS,CITY CLERKofthe 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 7'h day of April 2004.
Executed this 8'h day of April 2004, at Rancho Cucamonga, California.
'bebra J. Ada , CMC, City Clerk