1967-3833r_ . `~2
RESOLUTION NOo 3833
RESOLUTION RE2~ATING TO REZFIASF! OF BOND ON OFF-STRFk;T PARKING
Lyman Lo Phelps
5713 Brook Drive, Minneapolis
Locations 6720 & 6730 Cedar Ave, So
Uses Two 11 Unit Apartment Building
Tn~f~1RIi'ASe Mro Lyman Lo Phelps, 5713 Brook Drive, Minneapolis, Minnesota, had en.
Off~treet Parking Agreement with the City of Richfield relating to 6720 and 6730 Cedar
Avenue South which contract bears the designation of Contract Noo 82t~, and which
contract was guaranteed by a bond of the Firemanes Fund Insurance Company, San Francisco,
California, in the sum of $59OOOoO08 and
t~.AS, said Mro Lyme Lo Phelps has complied with the provisions of said agree
meat and the Fireman s Fund Insurance Company now seeks to be reliQved of any further
obligation under sa3.d bond, anal
W~ °RE'.ASg there appears to b® no justification for requiring said Lyman Lo Phelps
to continue to provide a bond for security on the pe rformanc® of said agreemento
NOW THt+JRE~'ORF~, BF1 IT R~OLVED by the City Council of the City of Richfield Minn®
esota~ as followss
That the City Manager is hereby authorized a~.d directed to release th® Fix°eman~s
Fund Insurance Company for any and all sots of Mxa Lyman La Phelps, committ®d or in®
tarred i.ri violation of said Contract Noa 82~.fl on and after the 11~$h day of August, 196'7a
Adopt®d by the City Council this ll~th day of August, 19670
~ti'~~
ATTEST a NAYOR
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CI CLERK