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1963-2987r
~~® 1 RESOtUT10N N0. 2987 RE:StiLUTlON RELATING TO REtEASE"`OF BOND ON OFF~STREET PARKING SOCONY MOB14 0'14 COMPANY INCA 84 SOUTFI 6TH Q~TREET~ MINNEAp041SD MINNo LOCATIONS 2816 ~6T 66TH STREET USE4 GA80LINE~ SERVIOE STATIION YIHEREAS' SOCONY MOBIL 014 COMPANYy INCoy 84 SOUTH 6TH STREETy MINNEAP0418y MINNE80TA$ 1~1AD AN OFFaSTREET PARKING AGREEMENT WITH TH18 V.ILLAQE RELATING TO 2816 WEST 66TH STREETg WHIOH CONTRACT BEARS THE DESIGNATION OF APPLICATION NO. 61'-34~ OONTRAGT NOo 69Qg AND WHIOH CONTRACT WAS GUARANTEED BY A BOND OF THE' UNITED PACIFIC INSURANCE COMpANYe 728 STo HELENS AVENUE, TACOMA' WABHINGTON~ IN THE SUM OF $4~000~00~ AND WHERE~S~ 8A1D SOaONY M0814 014 CmMPA NYi INC~~ HA8 SUBSTANTIA4LY COMPLIED WITH THE PRO° 1 VISIONB OF RAID AGREEMENT AND THE UNITED PACIFIC INSURANCE COMPANY~NOW 8EEK8 TO BE RELIEVE63 OF ANY FURTHER OB4IGATION UNDER RAID 80ND~ AND WHEREASy THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING RAID SOCONY MOB14 014 COMPG~NY TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF RAID AGREEMENTa NOIN THEREFOREs BE IT RESOLVED sY THE V ILIA GE OOUNC 14 OF THE V 1 LLAGE OF R 1 CHF' 1 EL~Jy MI NNE ESOTAy. A8 F04LOW8S THAT THE VILLAGE MANAGER 18 HEREBY AUTHORIZE[] AND DIRECTE© TO RELEASE THE UNITED PAOIFIO INSURANCE COMPANY FROM 41A61LITY FOR ANY AND ALL A CT8 OF SOCONY MOB 11. 014 COMPANY COMMITTED OR INCURRED IN VIOLATION OF 8A 1D CONTRACT NOo 690' ON AND AFTER THE 8TH DAY OF APRILS I963s ADOPTED 6Y THE VILLA GE COUNCI4 OF THE VILLAGE OF RICHFIELD THIS 8TH DAV OF APRILg 1963. A~' TEST L ~~_ . VILLd~G ENGINEER ~~ ~~ . .