HomeMy WebLinkAbout82-176 - Resolutions RESOLUTION NO. 82-176
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA, APPROVING A SUBORDINATION AGREEMENT FROM LESNY
DEVELOPMENT COMPANY AND AUTHORIZING THE MAYOR AND CITY
CLERK TO SIGN SAME
WHEREAS, a Real Property Improvement Contract and Lien Agreement for
the installation of a Median Island on Base Line Road adjacent to Tract No.
11350 was approved by City Council on October 21, 1981 and recorded in San
Bernardino county on October 27, 1981, Instrument 81-237644; 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
Rancho Cucamonga, California, that said Subordination 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 Cueamonga, and the
City Clerk attest thereto.
PASSED, APPROVED, and ADOPTED this 6th day of October, 1982.
AYES: Dahl, Buquet, Schlosser, Frost, Mikeis
NOES: None
ABSENT: None
D. Mikels, Mayor
ATTEST:
~_.-~4Fen M. Wasserman, Cij'Cl~rk '~'~-I.