HomeMy WebLinkAbout84-64 - ResolutionsRESOLUTION NO. 84-64
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM
ANDREW BARF~KIAN AND AUTHORIZING THE MAYOR AND CITY CLERK
TO SIGN SA~
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of a landscape median island along Foothill Boulevard was
approved by City Council on December 21, 1983 and recorded in San Bernardino
County on December 29, 1983, Instrument No. 83-306629; and
WHEREAS, for the developer to secure financing for the project, the
lender requires that the above-mentioned lien be subordinate to the liens in
favor of the lender and any other subsequent first deed of trust replacing the
liens 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 21st day of March, 1984.
AYES:
Dahl, Buquet, Mikels, Frost
NOES: None
ABSENT: Schlosser
ATTEST:
ts~y~jlerk