HomeMy WebLinkAbout91-064 - Resolutions RESOLUTION NO. 91-064
A RESOLUTION OF THE CITY OOL~ OF THE CITY OF RANCHO
~, CAT IFORNIA, APPROVING A SUBORDINATION
AGRR~T FRCM RUSS~L AND MARJORIE ~ AND AUTHORIZING
~HE MAYOR AND CITY ~FRK TO SIGN SAME
WHERFAS, a Real Property Impr~t Contract and Lien A~reement for
the undergrounding of existing overb~ad electrical lines adjacent to the
property to be developed along Hellman Avenue and 9th Street was approved by
City Council on October 18, 1984 and reo~ in San Berna~ County on
November 6, 1984, I3%~tr~ No. 84-267139; and
WHEREAS, for the developer to ~ f~ing 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 suhnitted a Subordinate A~3reement 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 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.
PASS~D, APPROVSD, and ADO~ this 6th day of March, 1991.
AYES: Alexander, Buquet, Stout, Williams, Wright
NOES: None
ABS~I~T: None
--De~s L. Stout, Mayor
AT~EST:
I, DE~RA J. ADAMS, CITY cr.WRK of the City of Rancho Cucamonga,
California, do hereby oertify 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 b~ld on the 6th day of
March, 1991.
Resolution No. 91-064
Page 2
Executed this 7th day of March, 1991 at Rancho Cucamor~a, California.
'~ra J. ~, City Clerk