1958-1690r~.~~
RESQL:UTION NO.~- ~f690
RESOLUTION R~t.ATING TO RELEASE OF BOND ON OFF STREET PARKING
,t,
~SOUTHDAI.E RisALTY COMPANY
3500 WEST 66TH STREET
LOCATION: 300 WEST 66TH STREET
.USE: SINCLAIR 6ERVICE STATI01~
~JH:::REASa SOUTHDALE REALTY COMPAl~Y HAD' AN OF'F~STREET PARKING AGREEMENT WITH THIS
VILLAGE RELATING TO 3020 WEST 66TH STAEET~ WHICH CONTRACT BEARS THE DESIGNATION OF CONTRACT
N0* 416 AND WHICH CONTRACT WA8 GUARANTEED BY A BOND OF THE STS PAUL FIRE AND MARINE INS
SURANCE COMPANY IN THE 8UM OF i`VI~000.00~ AND
IJHEREAS~ SAID SOUTHDALE REALTY COMPANY HAS SUBSTANTIALLY COMPLIED WITH THE PROV18tONS
OF SA10 AGREEMENT AND THE Sze PAUL FIRE AND MARINE INSURANCE COMPANY NOW SEEKS TO 8E RELIEVED
OF ANY FURTHER OBLIGATION UNDER SA10 BONDS ANDS
WNEREAS9 THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING SAID ST• PAUL~FIRE AND MARINE
INSURANCE COMPANY TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF 8A90 AGREE^
MENT •
N01"d THEREFORE BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RiCHF1ELD~ MINN~
ESOTA~ AS FOLLOWS:
THAT THE VILLAGE OAANAGER tS WEREBY AUTHORIZED AND DIRECTED TO_RELEASE 7NE ST• PA~1 FIRE
ANO MARINE INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF SOUTHDALE REALTY COMPANY
COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NO. 416 ON ANO AFi'EA THE 13TK DAY OF
OCTOBERS 195$•
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 13TH DAY pF OCTOBERS
1958e
i H
r~iYOR
ATTEST=
C~ ~I/,,r
CLERK
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