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RE30ZUTION No, 515 <br />By Mrs. Brown <br />A RESOZUTION AUTHORIZZNG THE SUBSTITUTION OF A BOND <br />IN THE.AMOUNT OF_$10,000.00 FOR THE PRESENT.BOND <br />GTVEN TO COVER THE IMPROVEMENTS OF THE STREETS IN <br />KENWOOD GARDENS SUBDIVISION No. 2-A. <br />BE IT RESOLVED BY THE COUNCII OF THE VTL-LAGE OF r1AYFIEI,D y CUYAHQGA COUNTY <br />OHIO, TH,AT : , <br />Sec. 1. Inasmuch as it appears that the owners of the parcels of <br />land contained in proposed Kenwood Gardens Subdivision No. 2-A have <br />completed the underground imgrovements, the temporary pavement and the <br />permanent pavement on the proposed streets in said subdivision, which <br />streets, however, cannot be accepted at this time for dedication by the <br />Village of Mayfield because of certain repairs required to be made, and <br />inasmuch as the surety bond in the approximate amount of $82,226.00 <br />hitherto filed with the Village by the owner of said subdivision for <br />installation of improvements is no longer required for the protection <br />of the Village, and inasmuch as the Village Engineer has certif ied <br />that a bond in the amount of $10,000,00 is sufficient to protect the <br />Village against any defects which may appear in the permanent pavement <br />before the time for dedication o£ said streets, the Clerk of the 9illage <br />of riayfield is hereby authorized to accept a Surety Bond or Cash Bond <br />in the amount of $10,000.00 in place of said bond in the amount of <br />$82 , 226.00. Upon, f iling of said bond in the am.ount of $10, 000. 00, and <br />its approval by the Solicitor, said bond in the amount of $82,226.00 <br />shall be canceled. <br />Sec. 2. Upon secommendation of the Village Engineer, Council <br />hereby grants permission to the owner of said subdivision, if it so <br />desires, to cover the streets in saa.d subdivision with a latex covering, <br />known as a modif ied Ts35 Asphalfiic Latex material, approximately 1/211 <br />inftickness, provided that a bond is given to guarantee defec'ts for,a <br />period of one year after installation. Provided, however, that nothing <br />herein shall require the owner of sai.d sabdivision ta use said type of <br />latex cavering i£ it desires to remedy the def ects by the use of concrete, <br />in aecordance with the ordinanees of the Village of Mayfield, Ohio.