HomeMy WebLinkAbout06-387 - Resolutions RESOLUTION NO. 06-387
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING A
SUBORDINATION AGREEMENT FROM COMMUNITY BAPTIST
CHURCH OF ALTA LOMA AND AUTHORIZE THE MAYOR AND
CITY CLERK TO SIGN SAME (APN: 201-221-08)
WHEREAS, a Real Property Improvement Contract and Lien Agreement for the
installation of overhead utilities was approved by City Council of the City of Rancho Cucamonga on
February 3, 1988 and recorded on May 2, 1988 as Document No. 88-137822.
WHEREAS, for the developer to secure refinancing for the property, the lender
requires that the above-mentioned lien agreement be subordinated 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 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/dowing page
for formal adoption,certification and signatures
Resolution No. 06-387
Page 2 of 2
PASSED, APPROVED, AND ADOPTED this 201h day of December 2006.
AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams
NOES: None
ABSENT: None
ABSTAINED: None
P 4 YV --� .
onald J. Kurth, .D., Mayor
ATTEST:
4-1ttr
Debra J. AdakMC, City Clerk
I, DEBRA J.ADAMS, 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 20`h day of December 2006.
Executed this 21st day of December 2006, at Rancho Cucamonga, California.
Debra J. Marfis, CMC, City Clerk