1958-1752rr
RESCRUTlON NO• 175i~
.RESOLUTION RELATING TO RELEASE OF BLVD ON OFF-STREET PARKING
FALLDEN BUILDERS
642J LYNDALE AVENUE
LocaTioN: 7127-7145 CHICAGO AVENUE
USES THREE 11 UNIT APARTMENT BUILDINGS
WHEREAS FALLDEN BUILDER6 HAO AN OFFr*STREET PARKING AGREEMENT WITH tH18 VILLAGE
RELATING TO 7127 AND 7145 CHICAGO AVENUEp WHICH CONTRACT BEARS THE DESIGNATION OF
CONTRACT NOo 4381 AND WHICH CONTRACT WA6 GUARANTEED BY A BOND OF THE STa PAUL FIRE
AND MARINE INSURANCE COMPANY OF ST• PAULA MINNESOTA IN THE SUM OF $S~COCeOC' AND
WHEREAS 8AID FALLDEN BUlLOERS MAVE 8UBSTANTIALLY COMPLlEO WITH THE PROVISIONS OF
RAID AGREEMENT AND THE ST• PAUL FIRE AND MARINE INSURANCE COMPANY NOVJ SEEKS TO BE RELIEVED
OF ANY FURTHER OBLIGATION UNDER SA10 BONDy AND
WHEREAS THERE APPEARS TO BE NO JUST1FiCfi~,^."' FOR REQUIRING SAID FALLDEN BUILDERS
TO CONTINUE TO PROVIDE A BOND FOR 8ECURlTY ON THE PERFORMANCE OF SAID AGREEMENTs
NOW THEREFOREs BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD
MINNE80TA~ AS FOLLOWSt
THAT THE VILLAGE MANAGER IS HEREBY AUTIIORIZED AND DIRECTED TO RELEASE THE ST• PAD(.
FIRE ANO MARINE INSURANCE COMPAN'~ FROM LIABILITY FOR ANY AND ALL ACT6 OF FALLDEN BUILDER6
COMM{TTED OR INCURRED IN VIOLATION OF SAID CONTRACT NOe 4$8 ON AND AFTER THE 8TW DAY OF
DECEMBERS I~Be
ATTESTS
,~
EDWARD J• LINES VILLAGE CLERY
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f-`°'~.
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IRVING R. KEL BENS td~YOR
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~B~-Ri VAN KR ELENS MANAGER
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