HomeMy WebLinkAbout89-013 - Resolutions RESOLUTIC~NO. 89-013
A RESOLUi~ON OF THE Cl'l~ COUNCIL OF THE c~'~'f OF RANCID
CUCA~DNGA, CALIFO~U_A, ~G A SUBORDINATION ~
F~f~4 BOOKER T. LA~£'~ AND MIGD~T.TA E. IA~'~ AND AUTHORIZING
THE MAYOR AND c±'l~ ~,~RK TO SIGN SAME
WHEREAS, a l~al Property Improv~ent Contract and Lien ~greement f~r
the installation of off-site i~provements, including curb, gutter and pavement
was approved by City Council on Dec~m%ber 4,1 985, and recorded in san Bernardino
County on December 18, 1985, I~s~ No. 85-322764; and
WHEREAS, f~r the developer to secure financing for the uroject, 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 A~reement to that
effect f~r the city's approval and execution.
NOW, THEREFORE, the City Conrail of the City of Rancho Cuca~onga 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.
PASSfD, AFF~OV~D, and ADOFi'~3 this 4~ ~y of J~, 1989.
~, ~, ~et, ~, ~i~t
No~
~s L. ~, ~yor
Beverly ~ Authelet, City Clerk
I, BEVf~{LY A. AU1/~RLA~?, CITY CLkTRK 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 Pancho Cucamonga,
California, at a regular meeting of said City Council held on the 4th day of
January, 1989.
l~solution No. 89-013
Page 2
Executed th_is 5th day of Jar~mry, 1989 at Rancho Cucamonga, California.
Beve~y A. Authelet, City Clerk