1966-3633r~~
1
RESOLUTION N0. 3633
RESOLIIi' ION REIAT IN G TO RELEASE OF BOND ON OFF STREET PARKINS
HAMM APARTMENT PROPERTIES INC.
5928 PORTLAND AVENUE SOUTH
LOCATIONi 6600 CHICAGO AVENUE SOUTH
USEi ONE 17 UNIT APARTMENT BUILDING
WHEREA58 HAMM APARTMENT PROPERTIESy INC.y 5928 PORTLAND AVENUE SOU'PH~ HAD AN OFF~STREET
PARKING AGREEMENT WITH THE VILLAGE OF RICWFIELD NOW THE CITY RELATING TO 6i01~~RHICAQO"'~WE1~
SOUTHp WHICH CONTRACT BEARS THE DESIGNATION OF CONTRAOT ND . 836e AND WHICM CONTRACT WA8
GUARANTEED 8Y A BOND OF THE WESTERN SURETY COMPANY SIOUX FALLS SOUTH DAKOTAS IN THE BUTA
of $39800m00o AND
WHEREASm SAID HAMM APARTMENT PROPERTIES, INO, HAS SU88TANTIALLY COMPLIED YIITH THE PROVISIONS
OF SAID AGREEMENT AND THE WESTERN SURETY COMPANY NOYV SEEKS TO BE RELIEVED OF ANY FURTHER OBLIGATION
UNDER SAID BON De AND
WHEREASg THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING 8A10 HAMM APART.AIENT PROPERTIE8~
INCo TO CONTONUE TO PROVIDE A BOND FOR t~CURiTY ON THE PERFORMANCE OF SAID AGREEMENT.
NOW THEREFOREe BE IT EtESOLVED BY THE CITY COUNCIL OF THE CITY of RICHFIELDd MINNESOTA
A8 FOLLOW6i
TWAT THE COSY MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE TF~ WESTERN SURETY
COMPANY FOR ANY AND ALL ACTS OF HAMM APARTMENT PROPERTIES IN Ca COMMITTED OR INCURRED IN
VIOLATION OF SAOD CONTRACT NOo 8369 ON AND AFTER THE 27TH DAY OF JUNE> 19660
ADOPTED BY THE CITY COUNCBL THOS 27TH DAY OF JUNEy 1966.
ATTESTi
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C tT CLERIB
MAYOR