1964-3227r~.~
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RE9J LUTION N0. 3227
RE9JLUTION RELATINQ TO RELEA;~E OF B'JND ON OFF-STREET pARKINQ
VUAL-DON BUILDERS, INCs
6711 OAKLAND AVENUE
iOCATION: 6417-19 & 6425-27 NIDDLLET AVEm
USES O FFICE BUILDING
WHEREAS, WAL-AON BUILDERS, IN®,b711 OAKLAND AVENUE, RICHFIELDy MINNESOTA, HAD AN
OFF~STREET PARKING AGREEMENT WITH THIS VILLAGE RELATING TO 6417-19 AND 6425-27 NICOLLET
AVENUE, WHICW CONTRACT BEARS THE DESIGNATION OF CONTRACT NOm 817, AND WHICW CONTRACT
WAS GUARANTEED BY A BOND OF THE FIDELITY AND CASUALTY COMPANY OF NEW YORK, NEW YORK,
IN THE SUM OF FOyR TFJOUSAND ONE HUNDRED (~4,IOO.OO) DOLLARS, AND
WHEREAS' SAID WAL-DON BUILDERS, INC. HAS SUBSTANTIALLY COMPLIED WITH THE PROVISIONS
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OF RAID AGREEMENT AND THI; FIDELITY AND CA SUALTY COMPANY OF NEW YORK NOW SEEKS TO BE
RELIEVED OF ANY FURTHER OBLIGATION UNDER 6AID BOND, AND
WHEREAS, THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING SAID WAL•+DON BUILDERS,
(NCB TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SA 10 AGREEMENTo
NOW THEREFO RE ~ BE IT RE9J LUED BY THE V I LIA GE CD,JNC I L OF THE U I LLAGE OF R I CHF I ELD,
MINNESOTA, AS FOLLOW SE
TWAT THE VILLAGE MANAGER tS HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE FIDELITY
AND CA 8UALTY COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF WAL~°DON BUILDERS, iNe®
COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NOm 817, ON AND AFTER THE 8TH DAY
of JUNE, t364•
ADOPTED BY THE UILLAGE COUNCIL OF THE VILLAGE OF RI'CHFlELD THIS 8TH DAY OF JUNE,
1964.
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LrJ - C~-Q-~~+-~
MAYO R
. ;.~?TESTS
~~.
VIL E CLERK
MA A GER