Loading...
1961-2592r~~ 1 RESOlUT10N NOo 2592 RESOLUTION RELATING TO RELEA~ OF BOND ON OFF-STREET PARKING BRACES INC. 6237 PENN AVENUE SOUTH L®CAT1O111i 6237 PENN AVENUE SOUTH USES METAL CASTING 8c OFFICE EfiFEREASs BRACES INC•s 6237 PENN AVENUE SOUTHs HAD AN OFF~STREET PARKING AGREEMENT WITH THIS VILLAfiE RELATING T® 6237 PENN AVENUE SOUTH' WHICH CONTRACT BEARS THE DESIGNATI®N ®F CONTRACT NO. 52$~ AND WHICH CONTRACT WAS GUARANTEED BY A BCND OF THE Si. PAUL FIRE AND MARINE INSURANCE COMPANY IN THE SUM OF ~2~500000, AND 19HEREAS~ 8A ID BRACES INC~~ HAS SUBSTANTIALLY C©MPLIED WITH THE PR9VISION S OF SA10 AQREE- MENT AND THE STs PAUL FIRE AND MARINE INSURANCE COMPANY NOW SEEKS T© BE RELIEVED DF ANY FURTHER OBLIQATIflN UNDER SAID BONDD AND WHEREAS TWERE APPEARS Tt9 BE Np JU&?lFICATION FOR REQUIRING SAID BRACES INC. TO CONTINUE 1 T® PR®VIDE A BOND FOR SECURITY ON THE PERFORMANCE ~ SA10 AGREEMENT. NOW THEREFORE BE !T RESOLVED BY THE VILLAGE CauNCIL of THE'VILLAGE OF RICHF E LDg AS FOLL9WSa THAT THE VILLAGE MANAGER IS HEREBY AUTHORIaED AND DIRECTED Tfl RELEASE THE ST• PAUL FIRE AND MARINE INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF BRACES INC•s COMMITTED GR INCURRED IN VO®LATIpN OF SA 10 CONTRACT N0. 5288 AN AND AFTER THE 25TH DAv of SEPTEMBERy 19610 ADOPTED BY THE VILLAGE C®UNCIL eF THE'VILLAGE eF RICHFIELD THIS 25TH DAY OF SEPTEM3ER8 1961. ATTEST ! ,~ UIdLAG C RK