HomeMy WebLinkAbout86-164 - ResolutionsRESOLUTION NO. 86-164
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, APPROVING A SUBORDINATION AGREEMENT
FROM MELVIN B. KORNBLATT AND AUTHORIZING THE MAYOR AND CITY
CLERK TO SIGN SAME
WHEREAS, a Real Proper~7 Improvement Contract and Lien Agreemen~ for
:he installation of street improvements along Almond Stree= was approved by
City Council on August 19, 1981, and recorded in San Bernardinn County on
October 29, 1981, Instrument No. 81-239269; and
WHEREAS, for the developer to secure financing for ~he project, ~he
lender requires that ghe above-mentioned lien be subordinate Co ghe lien in
favor of the lender; and
WREREAS, the developer has submitted a Subordinate Agreement co chat
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 Subordinate Agreement be and the same
are hereby approved and the Mayor is hereby authorized Co sign said
Subordination A~reement on behalf of ~he City of Rancho Cucamonga, and ~he City
Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 4th day of June, 1986.
AYES: Mikeis, Buquet, King, Dabl, Wright
NOES: None
ABSENT: None
ATTEST:
Autbelet, City Clerk
I, BEVERLY A. AUTR~r-ET, CITY CLERK of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
appraved, and adopted by the City Council of =be City of Rancho Cucamonga,
California, at a regular meeting of said City Council held on the 4~h day o[
June, 1986.
Executed this Bib day of June, 1986 at Rancho Cucamonga, California.