1962-2891r
1
RES®LUTION NO• 2891
RESOLUTION RELATING TO RELEAS` OF BOND ON OFF-STREET PARKING
LYLE C• OTTO, 2930 PARK AVENUE
t.OCAT AONi 7419 AND' 7421 .PENN AVENUE
. -"7A~12~AND;7420 DELVER AVENUE
'. , 22 t5 WEST: 74TH TREE T
USES FIVE II UNIT APARTMENT BUILQINGS
WHEREAS, LYLE C. ®TTO, 2930 PARK AVENUE, HAD AN OFF-8TF~ET PARKING AGREEMENT WITH THIS
VILLA GE RELATING TO 7413 AND 7421 PENN AVENUES 7412 AND 7420 DELVER AVENUE AND 2215 WEST 74TH
STREET, WHICH CONTRACT BEARS THE DESIGNATION OF CONTRACT NO. 527, AND WHICH CONTRACT WA S
GUARANTEED BY A BOND OF THE WESTERN SURETY COMPANY, IN THE SUM OF NINE THOUSAND FIVE HUNDRED
(~9,5oa.0o), AND
4YHEREASa SAID LYLE C. OTTO HA6 SUBSTANTIALLY COMPLIED WITH THE PROV1600NS OF SAID AGREE
i
MENT AND THE WESTERN SURETY COMPANY NOW SEEKS TO e~ REl1EVED OF ANY FURTHER OBLIGATION UNDER
SAID BON D9 AND
WHEREAS THERE APPEAR6 TO BE NO JUSTIFICATION FOR REQUIRING SAID LYLE C• ®T70 TO CONTINUE
TO PROVIDE A BONG FOR SECURITY ON THE PERFORMANCE OF BALD AGREEMENT.
NOW THEREFORE, BE IT RESQLVED BY THE VILLAGE COUNCIL OF 7HE VILLAGE OF RICHFIELD, MINN-
ESOTA~ A6 FOLLOW Si
THAT 7HE VILLAGE MANAGER IS HERESY AUTHORIZED ANO DIRECTED T 0 RELEASE THE WESTERN SURETY
COMPANY FROM LIABILITY FOR ANY ANO ALL ACTS OF LYLE C• OTTO, COMMITTED OR INCURRED IN VIOLATION
OF SAID CONTRACT NO. 527, ON Any AFTER THE 12TH DAY OF NOwEMBER~ 1962
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLA GE OF RICHFIELD THIS 12TH DAY OF NOVEMBERS 1962•
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VILLAG CLERK
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