HomeMy WebLinkAboutResolution - 042673B - Subordination Agreement - John L. Griffis - Covering Curb & Gutter Agreement - 04_26_1973RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock a SUBORDINATION
AGREEMENT covering curb and gutter agreement between the City of Lubbock
John L. Griffis, et al, a copy attached herewith which shall be spread upon the
minutes of the Council and as spread ,upon the minutes of this Council shall con
tute and be a part of this Resolution as if fully copied herein in detail.
Passed by the City Council this 26th day of April , 1973.
MORR S W. TURNER, MAYOR
11 ATTEST:
l I
Lavenia Lowe, CitySecretary-Treasurer
APPROVED AS TO FORM:
Fred O. Senter, Jr., City Altorney
THE STATE OF TEXAS
COUNTY OF LUBBOCK X
SUBORDINATION AGREEMENT
WHEREAS, the City of Lubbock is the owner and holder of a mechanic's
and materialman's note, said note being secured by a mechanic's lien contract,
dated June 12, 1969, in the amount of $6,451.60. executed by John L. Griffis
and wife, Oleta Belle Griffis, and Ruth Alene. Davis and husband, Charles C.
(Billy) Davis to the City of Lubbock,'.
WHEREAS, the Chas. Shreiner Bank holds a Deed of Trust note dated
March 12, 19739 in the amount of $250,000.00, said note being secured by a
Deed of Trust of even date therewith, being executed by John L. Griffis to
Chas. Shreiner Bank,
WHEREAS the above described liens are liens upon the hereinafter
described property situated in Lubbock County, Texas, to -wit:
The North Half (N/2) of the Northwest quarter (NW/4)
of Section Eleven (11). Block A, Lubbock County, Texas.
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, in consideration of
TEN AND N0/100 ($10.00) DOLLARS, the City of Lubbock, present holder of said
mechanic's and materialman's lien, does hereby declare and agree that said
mechanic's and materialman's lien dated June 12, 1969, in the amount of
$6,451.60, and being recorded in Volume 142, Page 125, Mechanic's Lien
Records, Lubbock County, Texas, shall be and the same is hereby made subordi-
nate, subject and inferior to the said Deed of Trust lien in the amount of
$250,000.00, dated March 12. 1973, and being executed by John L. Griffis to
Chas. Shreiner Bank.
EXECUTED THIS 26th day of April, A.D., 1973.
ATTEST:
Lave is Lowe, Cit5t Secretary -Treasurer
CITY OF LUBBOCK
BY
MORRIS W. TURNER, MAYOR
Apvtemd As to form!
F INd o
et,.JGi' CNyt sywy
THE STATE OF TEXAS X
COUNTY OF LUBBOCK X
BEFORE ME, the undersigned authority, in and for said County, Texas.
on this day personally appeared
of the City of Lubbock, known to me to be the person and officer whose name is
subscribed to the foregoing instrument and acknowledged to me that the same
was the act of the said City of Lubbock, a corporation, and that he executed
the same as the act of such corporation for the purposes and consideration
therein expressed. and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, This day of April, A.D..1973.
Notary Public, Lubbock County, Texas