1961-2635r~.~®
RESOLUTION N0. 2635
RESOLUTION REth TIN G TO RELEA~ OF BOND ON OFF-STREET PARKIN G
iPILAfdD BUILDER6 CORPORATION
9801 tVEST 50TH STREET
LOCATIONS 1524-1600 EAST 77TH STREET
USES TAO 23 UNIT APARTMENT BUILDINGS
~HEREASS INLAND BUILDERS GORPORATION HAD AN OFFmSTREET PARKING AGREEMENT IVITH THIS VILLAGE
RELATING TA 1524-1600 EAST 77TH 'STREETS YIHICH CONTRACT BEARS THE DESIGNATION OF CONTRACT NO•
6545 AND SiHIGH CONTRACT VIAS GUARANTEED BY A BOND OF ANCHOR CASUALTY COMPANYS 2700 UNIVERSITY
AVENUES ST. PAULy IIINNESOTA~ IN THE SUM OF $6S000o00S AND
VM EREASs SAID INLAND BUILDERS CORPORATION HAVE SUBSTANTIALLY COMPLIED ISITH THE PROVtS10NS
OF SAID AGREEMENT AND THE ANCHOR CASUALTY COMPANY NOV! SEEKS TO BE RELIEVED OF ANY FURTHER OB-
LIGATION UNDER BAID BONDS AND
47HEREASS THERE APPEARS TO BE Np JUSTIFICATION FOR REQUIRING SAID INLAND BUILDERS CORPORATION
TO CONTINUE TO PROVIDE A BOND FOR 8ECURITY ON THE PERFORMANCE OF SA10 AGREEMENTe
NC's THEREFORES BE IT RESOLVED BY THE VILLAGE COUNCL, OF THE VILLAGE OF RICHFIELD IRINiJESOTAs
AS FOl.LOFSSS
THAT THE VILLAGE IAANAGER 18 HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE APJCHOR CASUALTY
COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF INLAND BUILDERS CORPORATION COPJIipiTTED CR INCURRED
IN VIOLATION OF SAID CONTRACT N0. 6545 tiN ANO AFTER THE 27TH oAV OF NOVEMBERS 1961.
ADOPTED SY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFILLD THIS 27TH DAY OF NOVEMBERS I~J'61„
MAYOR
ATTESTS
i41~ A GER
VILLAGE CLERK