HomeMy WebLinkAbout84-233 - ResolutionsRESOLUTION NO. 84-233
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM KENCO
MACHINE, INC. AND AUTHORIZING THE MAYOR AND CITY CLERK TO
SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of a landscaped median island along 4th Street was approved
by City Council on March 8, 1984 and recorded in San Bernardino County on
May 25, 1982 Instrument No. 82-102548; 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 Cucamonga, and the
City Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 5th day of September, 1984.
AYES: Wright, Buquet, Mikeis, Dahl, King
NOES: None
ABSENT: None
ATTEST:
Authelet, City Clerk