HomeMy WebLinkAbout84-310 - ResolutionsRESOLUTION NO. 84-310
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM KENCO
MACHINE COMPANY, INC. AND AUTHORIZING THE MAYOR AND CITY
CLERK TO SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of one-half median island landscaped along 4th Street was
approved by City Council on December 19, 1984 and recorded in San Bernardino
County on May 24, 1984. Instrument No. 82-102548; 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 Subordinate Agreement to that
effect for the City's approval and execution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Raneho Cueamonga, California, that said Subordinate 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 Cueamonga, and the
City Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 19th day of December, 1984.
AYES: Wright, Dahl, King
NOES: None
ABSENT: Buquet, Mikels
ATTEST:
eve~ly~A Au~'helet, City Clerk