HomeMy WebLinkAbout87-334 - Resolutions RESOLUTION NO. 87-334
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FOR PARCEL
MAP 9687 AND AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN
SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of portions of the median island on Fourth Street was approved
by City Council on June 18, 1986, and recorded in San Bernardino County on July
1, 1986, Instrument No. 86-173421; 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 1st day of July, 1987.
AYES: Brown, Buquet, Stout, King, Wright
NOES: None
ABSENT: None
~Dennis LTSTout, Mayor
ATTEST:
B~v~rly'A~~ Authelet, City Clerk
Resol uti on No. 87 -334
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 1st day of
July, 1987.
Executed this 1st day of July, 1987 at Rancho Cucamonga, California.
Beverly ~(. Abthelet, City Clerk
Resolution No. 87-334
Page 3
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CITY OF PROJECT:
RANCHO CUCAMONGA TITLE:
ENGINEERING DIVISIONEXHIBIT: