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1962-2928r~~ 1 RE:~11.UT 1©N N0. 2928 RESOLUTION RELATING TO RELEASE OF BONd ON OF"F-STREQ PARKING SCHMELZ BROS. 2100 IRE sT 78TH STREET L.DCAT I ON f 2 100 RiE ST 78TH STREET USE! NEW CAR SALE8 So SERVICE ~' HEREAS~ SCHMELZ BROSos 2100 NEST 78TH STREE T~ R 1 CHF IEL Dy MINNE SOTA~ Hp,p AN OFFa+P,TREET PARKING AGREEMENT WiTF9 TH18 VILLAGE RELATING TO 2100 WEsT 78TH STREETS WHICW CONTRACT BEARB TFE DESIGNATION OR APPLICATION NO. 61~s C®NTRACT NO. 6361 AND WHICH. CONTRACT WAS GUARANTEED BY A BOND OF THE ST. PAUL FORE ANO MARINE INSURANCE COMPANY NEW YORKy NEW YDRK, IN THE SUM of ~2s000w00, AND 4RHEREAS, SAID SCHMELZ BROS„ HAS SUBSTANTIALLY COMPLIED WITH THE PRpVI SIONS OF SAID AG~,EL'~ 1 MENT AND THE ST. PAW, FIRE AND MARINE INSURANCE COMPANY ST• PAUL, MINNESOTA, NOW SEEKS TO 8E RELIEVED OF ANY FURTHER OBLIQATION UNDER SAID BONDS ANb IRHEREAS, THERE APPEAR6 TO BE NO JUSTIFICATION FOR REQUIRING ~-ID SCHMELZ BROS. TO CONTINQ9E TO PROVIDE A BOND FOR 8~CURITY ON THE PERFORMANO.E OF SAID AGREEMENT` NOW THERLFORE~ BE IT RESOL,VE19 BY THE VILLAGE CDUNCIL of THE VILLAGE OF RICHFIELDe MINNESOTAg AS FDLLDW~s THAT THE VILLAGE MANARER 18 HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE STo PAUL FIRE AND MARINE INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF SCHMELTZ BROSo COMMITTE=D OR INCURRED IN VIOLATION OF SAID CONTRACT NO. 63Csa ON AND AFTER THE 17TH DAY OF ~ECEMBERg /~20 ADOPTED BY TbE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 17TH DAY OF DECEMBER g, 1~362s 1 Arresra V t LLAG C4ERBC