HomeMy WebLinkAbout89-042 - Resolutions RESOLUTION NO. 89-042
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, 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 Agreement for
the installation of sidewalk along Orchard Street was approved by City Council
on May 7, 1981, and recorded in San Bernardino 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 lien 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, llJEREFORE, the City Council of the City of Rancho Cucamonga,
California, does hereby resolve that said Subordination Agreement is approved
and the Mayor is 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 1st day of February, 1989.
AYES: Alexander, Brown, Buquet, Stout, Wright
NOES: None
ABSENT: None
Denni~L~ Stout, Mayor
ATTEST:
Beverly A~ Authelet, City Clerk
Resolution No. 89-042
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 15t day of
February, 1989.
Executed this 2nd day of February, 1989 at Rancho Cucamonga, California.
Beverly A. Authelet, City C~erk