HomeMy WebLinkAbout87-169 - Resolutions RESOLUTION NO. 87-169
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CALIFORNIA, APPROVING A SUBORDINATION AGREEMENT
FROM LINCOLN RANCHO CUCAMONGA ASSOCIATES, A CALIFORNIA
PARTNERSHIP AND AUTHORIZING THE MAYOR AND CITY CLERK TO
SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for the
installation of off-site street improvements including but not limited to
curb, gutter, and asphalt pavement along Jersey Boulevard was approved by
City Council on October 4, 1984 and recorded in San Bernardino County on
October 25, 1984, Instrument No. 87-256174; 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 Subordinate 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 Subordinate 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 15th day of April, 1987.
AYES: Brown, Buquet, Stout, King, Wright
NOES: None
ABSENT: None
Dennis L. Stout, Mayor
ATTE ST:
Beverly A/. Authelet, City Clerk
Resolution No. 87-169
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 15th day of
April, 1987.
Executed this 15th day of April, 1987 at Rancho Cucamonga,
California.
Beverly ~. Authelet, City Clerk