1963-3027r~~~
RESOLUT ION N0. 3027
RESOLUTION REtAT1NQ TO REL,EFtBE OF BOND ON OPF'~uTREET PARKING
O IETR 6 CI~mFRANC 1 S COsQ INCo
4825 MARKAY RIDGEa MINNEAPOLIS
I.DGATIDN8 7244 PORTLAND AVENUE
USES ONE 11 UNIT APARTMENT BUILDING
WHEREAS DIETRICH~FRANCIB COoa INCog HA k3 AN OF'Fa+STREET PARKING AGREEMENT WITH THIS
VILLAGE RELATING TO 7244 PORTLAND AVENUE SOUTHe WH6CH OONTRACT BEARS THE DESIGNATION OF
CONTRACT NOo 7060 AND WHICH CONTRACT WAS GUARANTEED e' A BOND OF THE UNITED PACIFIC IN~°
SURANCE COMPANYy TACOMAs WA SHINGTONg IN THE SUM OF ~2s000oQQy AND
WHEREAS' 8A1D DIETR1GHdFFRANGIS CDoe INCo HA 6 St1BSTANTIALLY GOMPL6ED WITH THE PROVBSIONS
OF SAID AGREEMENT AND THE UNITED PACIFIC INSURANCE COMPANY NOW SEEKS TO BE RELIEVED OF ANY
FURTHER OBLIGATION UNDER SIAD BONDy AND
WHEREAS THERE APPEARS TO BE NO ~IU879FIGATION FOR REQUIRING SAID DI~TRICH®FRANCIS cOs~
INC. TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREEMENTa
NOW THEREFOREa BE iT RESOLVED BY THE VILLAGE COUNCIL. OF THE VILLAGE of RICHFBELDg MINNm
GSOTA9 AS FOLLOWSS
THAT THE VILLAGE MANAGER lS HEREBY AUTHORl2ED AND DIRECTED TO RELEASE THE UNITED PACIFIC
INSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF DlETRICH4FRANGIB Cp,a IN^o COMMITTED
OR INCURRED Iry VIOLATION OF vA1D CONTRACT NOe 706y ON AND AFTER THE 27TH DAY OF MAYy 1963m
,ADOPTED BY THE VILLAGE COUNCIL TWlB 27TH DAY OF' MAYe I963o
ATTEST s
V I I.LACE CL
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MAYOR
• MANA G