1961-2490r~~~
1
RESOLUTION NO-.-Z49E1
RESOLUTION RELATON~ TO RELEASE OF BOND ON OFF®STREET PARKINS
LYLE Bu1LDER sg BNCo
6701 PENN AVENIAE S®uTl~
LOCATIONS 6244 OLIVER AVENIdE SOUTH
UsEe ONE 4~UNIT APARTMENT BUILDING
WHEREASg LvLE Bu1LDERSg INCag f701 PENN AVENUE SoUTHg HAD AN ®~'Fm
STREET PARKING AGREEMENT WITH THIS VILLAGE RELATING TO 6244 ®LIVER AVENUE
S®UTHg WHICH CONTRACT BEAR9 THE DESIGNATION OF CONTRACT NOo 54:ig AND WHICH
CONTRACT WAS GUARANTEED BV A BOND OF THE WESTERN SURETY COMPANYg S10Uld FALLSg
SOUTH OAKOTAg 1 N Tljll SUM OF ~ I g200a~
WHEREASg SAID LYLE BUILDERSg IIU.CO HAS SUBSTANTIALLY COMPLIED WITH THE
PROVISIONS OF SAID AGREEMENT AND THE WESTERN SURETY COMPANY NOW SEEKS 7'0 BE
RELIEVED OF ANY FURTHER OBLIGATION UNDER SAID BONDg AND
WHEREASg THERE APPEARS TO BE NO egU3TIFICATION FOR REQUIRING LYLE BUILDERSg
INCa TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID
AGREEMENTa
NOW THEREFOR~g BE OT RESOLVED BY THE VILLAGE COUNCIL DF THE VILLAGE DF
.~
~~,.~
1
RICHI~IELDg MINNESOTA AS FOLLOWSS
THAT THE VILLAGE MANAGER 13 HEREBY AUTHORIZED AND DORECTED TO RELEASE
THE WESTERN SURETY COMPANY FROM LIABILITY FOR ANY AND ALL ACTS AF LYLE BUILDERSg
INCO COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NOa ~4Sg ON AND AFTER
THE IOTH OF ~ULYg lg61a
ATTEST&
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