HomeMy WebLinkAbout86-288 - Resolutions RESOLUTI0g NO. 86-288
A RaROLUTICiq OF THE CITY COUNCIL (W THN CITY Otm RA~CNO
CUCAMaqGA, APPROVIIeG A SUBORDIXATIOB AGRZEMIMT teNON STEpHas
L, BUTTEES, MONA F, BUTYEaR AID BKBARD CLgO DAUGHERTY
AID AUTHORXZIIG THE MAYOR AID CITY CLE!~ TO SIGN SAME
WHEi~EAS, · Real Property Improvement Contr·ct and Lien Agreement for
the installation of off-site street improvements ·long Mignonette was approved
by City Council on M·rch 4, 1982 and recorded in San Bernardins County on May
25, 1982, Instrument No. 82-1025~6; end
WHEREAS, for the developer to secure fin·ncinS 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 · Subordin·te Agreement to that
effect for abe Cicy's approval end execution.
WOe, THEREFORE, BE IT RESOLVED by the City Council of the City of
Kancbo Cocomona·, C·llforni·, that s·id Subordinate ASreement be and the same
are hereby approved and the Mayor is hereby authorized to sign said
Subordination ASreement on behalf of the City of Rencho CucamonSa, and the City
Clerk attest thereto.
PASSIN), APPROVES, and ADOIzr~D this l~tb day of October, 1986.
AYES: MikeIs, Buquet, King, DabIs Wright
N Sea: None
ABSmT: Sons
Beverly d~o Autbelet, City Clerk
I, NffEBLY A, AUTHaLgT, CIrf CLgi~ nf the City of Rencho Cut·mona·,
C·liforni·, do hereby certify Cbnt th· forqoinS Resolution w·s duly passed,
· pproved, ·rid ·dnpt~d by the City Council of tha Cit~ o~ Rencho Cuc·mong·,
Celiforni·, ·t · rquler m·etinS of seid City Council held on the l~th day o~
Executel this 1~ th d·y of October, 1 ~8~ ·C Rencho Cut·mona·,
C·I ifnrniao
Beverly A,$/Antbelet, City C~erk