HomeMy WebLinkAbout85-50 - ResolutionsRESOLUTION NO. 85-50
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM
WILLIAM & DONA BARNES AND AUTHORIZING THE MAYOR AND CITY
CLERK TO SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of curb, gutter, A.C. pavement, drive approach and street
lights along at 12715 Summit was approved by City Council on May 16, 1984 and
recorded in San Bernardino County on May 31, 1984, Instrument No. 84-127730;
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
Raneho Cueamonga, 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 Raneho Cueamonga, and the
City Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 20th day of February, 1985.
AYES: Wright, Buquet, Mikeis, Dahl, King
NOES: None
ABSENT: None
ATTEST:
Beverly A. Authelet, City Clerk