Dominic F. Antonelli Jr., the cash-strapped chairman of Parking Management Inc., has reached an interim agreement with the steering committee that represents his 36 lenders, a committee lawyer said yesterday.

But as Antonelli and the committee moved toward agreement, one of Antonelli's other lenders was pushing him closer to personal bankruptcy.

Citicorp Real Estate Inc. earlier this month began foreclosure proceedings against one of Antonelli's most valued downtown properties, the land under the massive International Square development in the 1800 block of K Street NW. Citicorp scheduled a foreclosure sale for Nov. 13, saying Antonelli owed almost $12.4 million.

Antonelli, who built one of Washington's biggest real estate empires, has been asking lenders for more time to pay his debts because he cannot repay all of the hundreds of millions of dollars he borrowed or the loans he guaranteed for other developers.

Antonelli's other creditors want the land under International Square to be sold for their collective benefit. The building at International Square, as distinct from the land, has other owners and is not affected by the action.

The threat of foreclosure appears to have given Citicorp leverage to seek a better deal from Antonelli and his other lenders. But in a continuing battle of wills, the lawyer for the creditors committee said yesterday that Antonelli probably would declare personal bankruptcy, throwing his financial troubles into the care of a federal judge, before he would allow the foreclosure sale to take place.

"If we are unsuccessful in persuading Citicorp to go along {with the restructuring agreement}, and if the Antonellis are otherwise unable to prevent the foreclosure from occurring, then I would anticipate that a bankruptcy filing would be necessary," said lawyer Richard P. Schifter of Arnold & Porter, who represents the creditors committee.

Schifter said Antonelli signed the interim agreement yesterday and the five major banks that serve on the steering committee are expected to sign it by the end of this week. The members of the steering committee are First Union National Bank of North Carolina, American Security, Sovran, Crestar and Madison National.

The interim agreement would freeze matters while Antonelli and his creditors negotiate a more detailed repayment plan. Under the agreement, Antonelli would grant participating lenders liens against all his property. The lenders, in turn, would agree to work with Antonelli to restructure his debt over as many as five years instead of foreclosing or taking Antonelli to court for immediate repayment.

The committee will be asking Antonelli's other lenders to join the interim agreement, which will take effect only if creditors holding at least three-quarters of the claims against Antonelli approve, Schifter said. The head of Citicorp Real Estate's Washington office, Laura Van Roijen, declined to comment yesterday. Antonelli's lawyer could not be reached for comment.

Two lenders already have received court judgments against Antonelli that put pressure on Antonelli and his creditors to conclude an agreement soon. In August, Citizens Bank of Maryland and Signet Bank obtained liens against Antonelli property in Montgomery County, including his Potomac estate, a source close to the Antonelli restructuring said. Unless Antonelli declares bankruptcy by mid-November, those two banks could lock in claims to the Montgomery County real estate that would give them a preferred position over other lenders, the source said.