Loading...
HomeMy WebLinkAbout82-176 - Resolutions RESOLUTION NO. 82-176 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM LESNY DEVELOPMENT COMPANY AND AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN SAME WHEREAS, a Real Property Improvement Contract and Lien Agreement for the installation of a Median Island on Base Line Road adjacent to Tract No. 11350 was approved by City Council on October 21, 1981 and recorded in San Bernardino county on October 27, 1981, Instrument 81-237644; 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 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 Cueamonga, and the City Clerk attest thereto. PASSED, APPROVED, and ADOPTED this 6th day of October, 1982. AYES: Dahl, Buquet, Schlosser, Frost, Mikeis NOES: None ABSENT: None D. Mikels, Mayor ATTEST: ~_.-~4Fen M. Wasserman, Cij'Cl~rk '~'~-I.