1960-2327r~~
RESOLUTION N0~ 2327
RESOLUTIL~U REtAT-NQ TO RELEASE OF BON~2 ON OFF~STRFE:T PARi~iNQ
REAdv ESTATE DEVEa„oPiV~NT9 INOe
6620 PENN AVENUE ~oUTH
~o@AT- oN$ S~ I cEDA~ A~ENe~
USES ONE ~ UNBT APARTMENT BU&9~D-IWo
EItH~RE!#S~ RteAOa EffiTATE 'DEVSLOPMENTs iN(~~8 HAD AN o~F'~TR~ET f~AReBiNS AGREEMENT utoTH TH-S
V1l.t.AQtt' RELATINe~ To ~.82i CEDAR AVENUEa wH1off 0®NTRACT NEAR THE DESa~ATaON 0~ OoNTRACT N®o
537p AND V7H 1 OH ooNTRACT QYAffi QUARAN~'tnED B~' A BOND OF THE WESTERN SURETY 6®MPAN1'e , S- OU)C PA6,F~8
SOUTH DA-cOTA~ IN 7HE ffiUM 0~ ~ i~~00®®Os AN D
I~HEREASa ffiAID REAL ESTATE DEVEa~oPMENT~ IN(~® HAS SUBSTANT-A~t~Y ooMtaa~lEq isii`t'd-9 THS PROV-S-oN~
OP' ffiAID AQR~~MENT AND THE WESTERN S~9RETT' O®MPA6l9Y N01~ ffiEEICB T® BE REO~-EVEO OF AN~P FURTHER OBE
LIt~ATION UNDER SAID B(~VD~ AND
YINEREASD THERE AP~Atas To sE No da~T-FaoAT-®N FoR RE~UIRINS SAID READ ESTATE OEVSLOt~MENT'~
IN®e TO CONTINUE T.o PR0IPIDE A SOND FOR SECURa1CY ON THE P~RFOR~a4NCE of SAaD AQR~~MENTe
N0~1 THEREFOREB BE IT RESOLVED BY THE VB~a~AC~~ GoUNCi~, of THE Vla,fl,AOE ot~ R-oHFIEa~D~ M-NNm
EsoTAe As Foa,~.o~ts~
THAT' THE Vi~.4.AQE MANAQER affi HEREBY AUTHOR-ZED AND DaRECTED ~'® REa4EASE THE Y/ESTERN SAIRETY
OOMPANYy INCa~ FROM -,-ABO-~OTY F®R ANY AND AL@~ STS OF' REA-~ ESTATE a)EV~~®PMENTg iNC® COMMaTTED
qR eNCUS~RED -N VaotaATloN of SAID CONTRACT No® ~~n oN AND AFTER THE 24TH oAY of ¢~oTO~ERg
1960,
ADOPTED BY THE V9a,BaAQE CoUNCa-, of THE Vla~¢,A~E 0~' R-c~8F0EaeD THIffi 24TH DAY ®~' OCTOeERg
i96®~
NlA~°OR