1957-1452r~~ i
RESOtur IoN No, ~~~
RESOLUTION RELATtNl1 TO BOND ON QFF~STR££T PARKINQ
JACOBSEN ~ QutsT
7644 LYNDALE AVENUE SOUTH
Loca7toN: 6637 LYNDAIE AVENUE SOUTH
l1SE: RETAIL CANDY STORE
l4HEREAS~ JACOBBEN & QU18TS HAD AN OFF~STREET PA18cINfl AGREEMENT WITH TH18 VILLAGE
RELATINB 70 6637 LYNDALE AVENUE SOUTH WHICH CONTRACT BEARS THE DE81flNAT10N OF CONTRACT N0,
360a AND WHICN CONTRAGT WAS flUARANTEED BY A BOND OF THE ST• PAUL Ft RE AND MARINE INSURANCE
COAAPANYs A MJNNESDTA CORPORATION OF ST* AAULs MINNESOTAi !N THE 8U&t OF ~t3000~OC~ AND
t°JHEREAS~ SAID JACOBSEN & QW STS HA9 SUBSTANTIALLY COMPLIED WITH THE PROVt810N8 OF 8AID
AGREEMENT AND THE ST, PAUL FIRE AND &~4RiNE INSURANCE COMPANY! NOW SEEKS TO BE RELIEVED OF
ANY FURTHER OBLtQATtON UNDER SAID BONDS AND
WHEREAS THERE APPEARS 70 BE NO JUSTIFICATION FOR REQUIRtNfl SAID JAC088EN $ QUtST TO
CONTINUE TO PROVIDE A BOND FOR SECURITY OF THE PEtiFORPAANCE OF SAID AflREEMENT~
Not9 THEREFORE, BE iT RESOLVED BY THE VtLLAflE COUNCIL OF THE VILLAflE OF RICHFIELD
IAINNE80TA~ AS FOLLOWS!
THAT THE VILLAQE (UTANAGER 18 HEREBY AUTHORt2ED AND DIRECTED TO RELEASE THE ST• PAUL FIRE
AND MARINE INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF JACOBSEN & QUIST~ COMMITTED
OR INCURRED IN VIOLATION OF SA10 CONTRACT NO, 360 ON AND AFTER THE I2TH DAY OF NOVEMBERf I957m
ADOPTED BY THE VILLAflE COtAVCIL OF THE VtL1.AflE OF RICHFIELD TW1S 12TH DAY OF NOVEMBERs
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