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1961-2541r~~ RESOLUTION NO. 2541 1 RE~LUTION REIATIIVO TO RELEASE OF BOND ON pFFeSTREET PARKING 9Z~C~S~ MASONIC CORPORATION 76I5.LOQAN AVENUE SOUTH LOCATIONS 7615 LOQAN AVENUE SOUTH USEi LDDQE BUILDINOe WHEREAS THE ROC~Se MASONIC CORPORATION tNOW KNOWN A S THE TRUSTEES OF RICHFIELD ANO CENTURY LODQE~ HAD AN OFF~STREET PAINCINa AQREEMENT WITH TM18 VILLAQE RELATINC3 TO 7615 LOGAN AVENUE SOUTH WHICH CONTRACT BEARS THE DESIQNATION AF CONTRACT NOe 468y AND WHICH CONTRACT WAS QUARANTEED BY A BQNO OF THE IJNtTEO STATES FIDELITY AND GUARANTY COMPANY 1N THE ~JM OF $2'000e00s AND WHEREAS' SAiD R~C~S~ MASONIC CORPORATION HAS SUBSTANTIALLY COMF~,IED WITH THE PROVISIONS flF SAID AQREEMENT AND THE UNITED STATES FIDELITY AND GUARANTY COMPANY NOW SEEKS TO BE RELIEVED OF ANY FURTHER OBLIQATION UNDER SAID BONDS AND WHEREAS: TMERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRINQ 5410 R.C.S. MASONIC CORPORATION 1 TO CONTINUE TO PROVIDE A BOND FOR 6ECURITY ON THE PERFORMANCE OF SAID AGREEMENT• NOW TF~REF'ORE~ BE IT RESOLVED BY THE VILLAGE C©uNCIL OF THE VILLAGE OF RICMFIELDp MI NNESOTA9 AS FOLLOW SS THAT THE VILLAQE MANA~R IS HEREBY` AUTHORIZED ANO DIRECTED TO RELE#SE THE IkVITED STATES FIDELITY AND GUARANTY COMPANY FROM LIABILITY FOR ANY AND ALl. ACTS OF THE ReC0s0 MASONIC CORPORAm TION COMMITTED OR INCURRED iN VIOLATION OF SA10 CONTRACT NOe 46$~ ON AND AFTER THE I~TH DAY AuQUSTa 1961• ADOPTED BY THE VILLAGE COUNCIL QF THE VILLAQE OF RICHFIELD TWIS 14TH DAY OF AUGUSTy 19690 1 ATTESTa V ILt.A CLERK MAY R i1i1~/~[>--G~ MAN~kER