1962-2810r~~
RESflLUT1EaN N®. 2810
RELAT INO TO RELEASE OF BONO DN. OFFpSTREET PARKINp
U & M PROPERTIESS iNCo
6519 NICOLLET AVENUES RICHFIELD MINN.
LOCATIONS RICHFIELD PLAZA SHOPPING CENTER
66TH STREET AND NICOLLET AVENUE
USES SHOPPING CENTER
WHEREAS! J 8o M PROPERTIES' INC. 6519 NIDOLLET AVp„NUE' RICHFIELD MpNNESOTAy HAD AN
OFFrSTREET PARKING AGREEMENT WITH THIS VILLAGE RELATING TO8
NORTH 40 FEET OF LOTS 4 AND 129 BLOCK 99 TOWN°S EDGE
RICHFIELD PLAZA SHOPPING CENT ERs 66TH STREET AND
NICOLLET AVENUE
1
WHICW CONTRAOT BE4RS THE DESIGNATION OF CONTRACT N0. 623 AND WAS GUARANTEED 8Y A BOND OF
THE TRAVELERS INDEMNITY COMPANY IN THE 8UM OF FIVE HUNDRED ($500000) COLLAR69 AND
WHEREAS9 SAID J & M PROPERTIESp INCo HAVE SUBSTANTpALLY COMPLIED WITH THE PROV78pONll
OF SA10 AGREEMENT ANO THE TRAVELE R8 INDEMNITY COMPANY NOW SEEKS TO BE RELIEVED OF ANY
FURTHER OBLIGATION UNDER RAID, BONDS AND
WHEREASs rHERE APPEARS TO BE NO JUSTIFICATION FOR REQUBRING SAI®~ & M PRDPERTIEvS
TO CONTINUE TO PROVpDE A BOND FOR SECURITY ON THE PERFORMANCE OF' SA10 AGREEN~NTo
N01U THEREF®RE9 BE IT RESOLVED BY THE VILIAGE COUN0IL OF THE VILLAGE OF RICHFIELOy
MINNE SOTA~ AS FOLLOWS®
THAT THE VILLAGE MANAGER 18 HEREBY AUTHORp~EO AND DIRECTED TO RELEASE THE TRAVIEpE RS
1
INDEMNITY COMPANY FROM LpABILlTY FOR ANY AND ALL ACTS Ofe` al & M PROPERTIES COMMITTED OR
INCURRED IN VIOLATION OF SAID CONTRACT N0. 6239 ON AND AFTER T.HE 13TH DAY OF AUGUSTy
1962 e
_ ADOPTED BY THE VILLAGE COUNOII 01" THE VILLAGE OF RICHFIELD THa~ 13TH DAY OF AUGUSTS
0~~
ATTEST a
VILLA( CE