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1962-2769r~3 RE50lWTION NO. 2769 RESOLUTION RElATINQ TO RELEASE OF BOND ON OFF`STREET PARKiNG• WESTVpOOD O4lILi>ERS (i0o 712 2ND AVENUE So~aTrt loCATIoNS 632t~ 6329 ANe 6337 PLEASANT AVEv U6E3 THREE 1 I UNI T ApARTPAENT BLDQS~ WMEREAS~ WESTWDOD BUILDERB CO.~ 712 2ND AVENUE SOUTIIo MINNEAPOLI8~ IfliNNESOTA~ HAO AN OFF•S'1'REBT PARKINQ AQREE~ENT I~IITM 1H1E ~ILLAtRE RELATINGt TES 6321¢ 6329 AND 6337 PL~;ABANT AVENUC~ RICHFIELD MINNESOTA ~H1C11 CONTRACT BEARS THE aESIt3NAT1ON OF GONTRAOT NO. 62~s AND 1~NlCH CONTRACT i~AS QUARANTEEIB BY A BONd~ OF THE $T. PAUL FIRE AND MAR11sIE INSURANCE GOa~PANYs N TI1E 8Ub1 OF $S~QOO.OOs AN19 1tIFIEREAF~ SAI® WES'C9VOOD OUIL®<nRS COo HAS SUBSTANTIALLY GOA9pL1ED NtITH THE PROVISION6 OF RAID AQREE~EPf T AND THE $T. PAUL FIRE & MAR INE INSURANCE COMPANY' ST• PAULp AIINNE SOTA~ NO1I1 ~EK B TO BE RELIEVED (~' ANY FURTHER OBLIGATION UNDER SA IQ 80ND~ AN l1 [~HEREAS~ 1CIIERia APPEARS 70 ~~ QUO JUSTIFICATION FOR REQUIRINt~ SAIt~ ~lESTClOOD BUILDERS r0. TO CONTINUE TO PROVODE A BOND FOR SECURITY ON THE PERFORe'aANCE OF SAi~- AGRE~b/EIgNT. NOII THEREFOREs 8E IT RESOIVED BY THE VILLAC~e CeuNCIL ©F T~tE VILI.l~QE OF RICMFIELD$ MINN^° ESOTAs AS FOLLOWSII THAT THE VILLAQE MANApER IS HEREBY AUTHORIZED AND DDRECTED TO RELI~AG~ THE ~T. FAUL FIRE & PAARINE INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF k~F<°sTGYOO® CUILDERQ CC• COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT N0. 626' ON ANO AFTER tHE 25TgI flAY OF ~IUA7ES 1962• A9®PTEp SY THE VILLAwE OOUNCI/. OF THE ~ILLAQE OI? R1Ck3Ff!~lO THIS 257'EI DAY OF JUNES 19fS2. ~,.a . ~~s-~-. MAYOR AT TESTa V 1 LLA GE It ERIC ~ ~ MA . f~R