HomeMy WebLinkAbout88-048 - Resolutions RESOLUTION NO. 88-048
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANfMO
CUCAMONGA, CALIFORNIA, APPROVING A SUBORDINATION AGREEMENT
FROM ROLAND L. AND CAROLYN A. TAYLOR AND AUTHORIZING THE
MAYOR AND CITY CLERK TO SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agre~nent for
the installation of sidewalk along Orchard Street was approved by City Council
on May 25, 1981, and recorded in San Bernardlno County on May 12, 1981,
Instrument No. 81-104021; and
WHEREAS, for the developer to secure financing for the project, the
lender requires that the above-mentioned llen 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.
PASSED, APPROVED, and ADOPTED this 3rd day of February, 1988.
AYES: Brown, Buquet, Stout, Wright, King
NOES: None
AB SENT: None
Dennis L. Stout, Mayor
ATTEST:
Beverly ~. Authelet, City Clerk
Resolution No. 88-048
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
3rd day of February, 1988.
Executed this 4th day of February, 1988 at Rancho Cucamonga,
California.
Beverly A/ Authelet, City Clerk