HomeMy WebLinkAboutReso RDA 5-2000 RESOLUTION NO. 5-2000
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOLUTION APPROVING THE SUBORDINATION
AGREEMENT WITH MP GREENRIDGE ASSOCIATES IN
FAVOR OF SAVINGS ASSOCIATIONS MORTGAGE
COMPANY, INC.
WHEREAS, this Subordination Agreement and the necessity to place it as an
urgent item for this agenda is critical to securing the necessary loans to complete the project; and
WHEREAS, staff desires that the Agency Board approves this Subordination
Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of
South San Francisco that it hereby approves the Subordination Agreement with MP Greenridge
Associates in favor of Savings Associations Mortgage Company, Inc.
BE IT, FURTHER RESOLVED, that the Agency authorizes the Executive Director to
execute documents as required.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
Redevelopment Agency of the City of South San Francisco at a regular meeting held on the 22nd
day of March, 2000 by the following vote:
AYES: Boardmembers James L. Datzman, Eugene R. Mullin and John R. Penna,
Vice Chair Joseph A. Fernekes and Chair Karyl Matsumoto
NOES: None.
ABSTAIN: None.
ABSENT: None.
C:\My Documents\R ESO\greenridge. fda.doc