HomeMy WebLinkAbout172 RDA_CCv0001.pdf RESOLUTION NO. 172
RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF REDLANDS AUTHORIZING
ACQUISITION OF REAL PROPERTY LOCATED AT
348 NORTH ORANGE STREET , REDLANDS ,
CALIFORNIA, AND AUTHORIZING EXECUTION OF
MODIFICATION OF LOAN
WHEREAS , for purposes of redevelopment , the
Redevelopment Agency of the City of Redlands ("Agency")
has acquired certain real property located at 348 North Orange
Street in the City of Redlands , California, which is shown
on the boundary map on file with the Secretary; and
WHEREAS , the Agency has negotiated with the holder
of a Note and Deed of Trust secured by such real property
in order to negotiate a modification of loan on mutually
acceptable terms and has been able to do so .
NOW, THEREFORE , THE REDEVELOPMENT AGENCY OF THE
CITY OF REDLANDS does hereby resolve and declare as
follows :
Section 1 . That this Redevelopment Agency hereby
approves tTie-acquisition of real property located at 348
North Orange Street , Redlands , California, as necessary for
purposes of redevelopment.
Section 2 . Notice. The Secretary, Chairman and
Executive Director are here5y authorized and directed to
execute the Modification of Loan, Assumption Guarantee
and whatever other documents may be necessary to legally
enable Agency to assume Loan No. 131-17329-7 with Redlands
Federal Savings and Loan Association upon the terms and
conditions set forth in the Modification of Loan.
ADOPTED, SIGNED AND APPROVED thisl9th day of
March 1985 .
Chairman ot the Redevelopment
Agency of the City of Redlands
ATTEST:
Secr -A luk
y
APPROVED FOR FORI�I:
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