1961-2563r~~
RESOLUTION NOo 2563
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RE~LUT ION RELATING TO RELEASE OF BOND ON OFF~STREET PARKING
INTERNATIONAL PROPERTIES
2615 FIRST NATIONAL DANK BUILDING
L.flCATIANS 6637 I.YNDALE AvrNUE SOUTH
USES KING KfliN LAUNDERETTE
WHEREAS, INTERNATIONAL PROPERTIES 2615 FIRST NATIONAL BANK 8UlLDINGS HAD AN OFF~+STREET
PARKING AGREEMENT WITH THIS VILLAGE RELATING Tfl 6637 LYNDALE AVENUE SOUTH WHICH CONTRACT BEARS
THE DE8IGNATION OF CONTRACT NOd 633, AND (SHICH CONTRACT WA8 QUARANTEED 8Y A BOND OF THE FIRE~-
MEN ~ 8 1N ~JRANCE COMPANY t9F' NEWARK NEW JERSEYs 1 N THE SUM OF $500~D0, AND
WHEREAS, SAID INTERNATIONAL PROPERTIES HAS SUBSTANTIALLY COMPLIED WITH THE PROV1810NS OF
SAID AGREEMENT AND YHE FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW .IERSEY, NOW SEEKS TO BE
gEL1EVED OF ANY FURTHER flBLIGATfON UNDER 8AID BOND, AND
WHEREAS, THERE APPEARS TO BE N9 JUSTIFICATION FOR REQUIRING SAID INTERNATIONAL PROPERTIES
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Tp CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFCRfa7ANCE OF SAID AGREEMENT.
NOW THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNC81. ~ THE VILLAGE OF RICHFIELD MINNESOTAe
AS FOLL01S8S
THAT THE VILLAGE MANAGER 18 HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE FIRE4tEN~s INSURANCE
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COMPANY OF NEWARKa NEW JERSEtt FROM LIABILITY FOR ANY AND ALL ACTS OF INTERNATIONAL PROPERTIES
COMMITTED OR INCURRED 1N VI@LAFION OF SAtD CONTRACT No• 633A ON AND AFTER THE (ITN DAY OF SEPT-
EMBER, f961e
ADOPTED BY THE VILLAGE COUNCIL THIS (ITN DAY OF SEPTEMBERS s
MAY R
ATTESTS
~G- ~f2,.
V t LLA CLERK
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MA GER