1960-2329r~~.~
RESOLUTION N®® 2329
RESOlUT10N REIAT INQ TO REtEArSE;, OF BONG ON 0~'~STREET PARK INO
PETIT & I~ URER CONRTRUOTION 001
6326 BASS LAKE ROAD
tooATIONS 640'0 CEDAR AV~11E
USES ONE 4 UNIT APARTMENT BUp.LD1NQ
r '
INHEREASs PETIT $o ~11UR~R CDNSTRUOTION COMPANY 6326 BASS tAKE ROADe HAD AN OFP~TREET
PARKINQ AGREEMENT WITH TH1S VILL'ARE RELATINQ TO 6400 CEDAR AVEN@SE g WHICH CONTRACT BEARS
THE b ESIt~lAT10N•OF 6QNTRACT N0/ 557g AND WHICH CONTRACT WA8 GUARANTEED BY A BOND OF 1HE
ANCHOR CASUALTY COMPANYs STo PAULD MINNE80TA~ IN THE SUM OF $12001008 AND
WHEREASe PETIT AND .MAURER CONSTRUCTION COMPANY HAVE SUBSTANTIALLY COMPL~ED WITH THE
PROVISIONS OF SAID AGREEMlaNT AND THE ANCHOR CAt~UALTY COMPANY NOW SEEKS TO BEsRELIEVEO OF ANY
FURTHER OBLIAtiATI.ON UNDER SAID BO~VDB AND
WNEREASs TF~ERE APPEARS To BE NO ~9UST1~'ICATION FoR REQUIRING PETIT 8~ ~fluRER CoNBTRUCTION
COMPANY TO OONTI'NUE TO PROV IDE A 'SOHO POR SECURITY ON THE PE~`IFORMANCE OF RAID AGREEtu~NT/
NOW TNEREFOREa BE IT RESOtVEfl 8Y THE VILLAGE COUNOIL of THE VILLAQE o~ RICHFIELDe MINN®
EIaoTA~ A~ FoLLOWSt
THAT TWE VILLAGE MANAGER 13 HEREBY AUTHORISED AND DIRECTED TO RELEASE THE ANCHOR CASUALTY
COMPANY PROM fPIABO@40TY POR ANY AND ALL ACTS OF PETIT do(~dAURER CONSTRUCTION COMPANY COMMITTED
OR INCURRED IN VI.OLATION~OF SAID CONTRACT NOs a57a ON AND AFTER THE 24TH DAY OF OCTOBERg
19601
ADOPTED BY THE VILLAQE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 24TH DAY of OCTOBERq 1960
NA OR
AT TEST s
- V ItLAG tERIC
MA OER