HomeMy WebLinkAbout94-037 - ResolutionsRESOLUI~ONNO. 94-037
A RESOLUTION OF THE CITY OOL~CIL OF q~E CITY OF RANCID
~, CALI~, APPRDVlNG A SUBORDINATIC~
AG~m~T FR~M ~J~ S. AND ~{f~w~A L. ~ AND
~ZING THE MAYOR AND CITY ~.FRK TO SIGN SAME (APN:
1061-521-20)
WHEREAS, a Real Property I~provemmnt Contract and LienAgresment f~r
the installation of off-site improvements includirg drive approach, sidewalk
Cot~tyon~ 13, 1993.
WHf~EAS, in ox~_r for the p~operty owner to secure refinancing for
the property, the lender requires that the above-mentioned lien agreement be
subordinated in favor of the lender; and
WHOlEAS, the property owner has m3___b~i~'tted a Subordination Agreement
to t_hat effect for the City's approval and execution.
NOW, ~{EREFORE, THE CITY OOUNCIL OF ~ CITY OF RANCHO f/3C.~gGA
HEREBY RESOLVE that said Subordination Agreement be and the same are hereby
approved and the Mayor is hereby authorized to sign said Subordination
~greement on behalf of the City of Rancho Cucamonga, and the City Clerk attest
thereto.
PASSFD, APPROVfD, and ADOPTfDthis 2ndday of March, 1994.
Alexander, Buquet, Gutierrez, Williams
None
Mayor R~q~m I'~
, City Clerk
Resolution No. 94-037
Page2
I, DEBRA J. ADAMS, CITY cLFRK of the City of Rancho Cucamonga, California, do
hereby certify that the foregoing Resolution was duly passed, ap~, and
adopted by the City Council of the City of Rancho O,cs-~nga, Califcxnia, at a
regular meeting of said City Council held on the 2rid day of March, 1994.
Executed this 3rd day of March, 1994, at Rancho Cucamonga,
California.
D~hra J. Adams, City Clerk
Resolution No. 94-037
Page3
CITY OF
RANCHO CUCAMONC, A
ENG~r~G DIV~ON