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1962-2893rey RES©I.UTI©N Noe 2893 RESEILUTIQN REU6TINQ T4 RELEAiaE, OF BONfl ON ®FFmSTREET PARKIN4 MR. EMIL dSTR®M 3307 14TH AVENUE SDUTH LOCATIONS 6700 CEDAR AVENUE USES QASOI.INE SERVICE STAT ION YNHEREASs MRe EMIL OSTROM HAD AN OFF~STREET PARKING AGREEMENT WITH THIS tfILLAGE RELATING T® 6700 CEDAR AVENUE SDUTHi RICHFIELD MINNESOTAe WHICH CONTRACT BEARS THE DESIGNATION OF APPLICATION NO• 60~7~ CONTRACT Noe 5668 AND WHICH CONTRACT WAS GUARANTEED BY A BOND OF THE (r®MMERGIAL INSURANCE COMPANYs NEWARK' NEW e1ER SEY~ IN THE SUM OF FOUR THOUSAND FIVE HUNDRED ($4150(3.0©) DOLLARSa AND WHEREASf SAID EMIL OSTROM HAS SU8STANTIALLY COMPLIED WITH THE PROVISIONS OF SAID AGREE°° MENT AND THE COMMERCIAL INSURANCE C®MPANY NOW SEEKS TO 8E RELIEVED OF ANY P'UR1fHER OBLIGATION tbUDER SAID BONDS AND WHEREASa THERE APPEARS TO BE NO .BUSTIFICATION FOR REQUIRING SAID EMIL ®STROM TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE ®F SAID AGREEMENTe N01U THEREFFiREq BE IT RESOLVED 6Y THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELDs MINN~^ E~ITAs AS FOLLOWSS THAT THE VILLAGE MANAGER IS HERESY AUTHORIZED AND DIRECTED TO RELEA SE THE COMMERCIAL INSURANCE COMPANY FROM LIA81i.ITY FOR ANY AND ALL ACTS 01' EMIL OSTROIN~ COMMITTED OR INCURRED IN V10LATION OF 8A1® CONTRACT NOe 566s ON ANO AFTER THE 12TH DAY OF NOVEMBER! 4962, ADOPTED GY THE VILLAGE COUNCIL Of THE VILLAGE OF R1CiiFIELO TH1$ 12TH DAY OF' NOVEMBERy 1962. ATTESrs V ILL~QE GL Rlg MPIY®R I~ GER