HomeMy WebLinkAbout90-472 - Resolutions RESOLUTION NO. 90-472
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, CAT3FORNIA, APPRDVINGASUBORDINATIONAGRR~]~T
FRCM~,WNC. AND G~ANP. MC M~LTNANDAUTHORIZINGTHE
MAYOR AND CITY f~,WRKTOSIGNSAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of off-site street improvements along Orchard Street was
approved by City Council on May 7, 1981, and recorded in San Bernardino County
on May 12, 1981, Instrument No. 81-104021; and
WHEREAS, for the developer to secure financing for the project, the
lender requires that the above-mentioned lien be subordinated to the lien in
favor of the lender; and
~, the developer has su~mit~ a Subordinate Agreement to that
effect for the City's approval and execution.
NOW, THEREFORE, the City Council of the City of Rancho Cucamonga does
hereby resolve that said Subordinate A~reement 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.
PASS,I), APPRDV~D, and ADOPI~ this 19th day of December, 1990.
AYES: Alexander, Buquet, Stout, Williams, Wright
NOES: None
ABS~I~T: None
~nnis L. Stout, Mayor
ATI~ST:
~ra 7.-/~s,-C±ty Clerk
I, DEBRA J. ADAMS, CITY CT.k~K of the City of Rancho Cucamonga,
California, do hereby certify that the foregoing Resolution was duly passed,
approved, and adopted by the City (k~ncil of the City of Rancho Cucamonga,
California, at a regular meeting of said City Council held on the 19th day of
December, 1990.
Resolution No. 90-472
Page 2
Executed this 20th day of Dec~mber, 1990 at Rancho Cucamonga, California.
D~ ~bra J. Ad~, City Clerk