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<br />CITY OF' NORTH QII~STED
<br />RESt3LiTTifki bl - ;~ 3
<br />By ~~ r.
<br />~_._~...
<br />RESOLDTIEJ~d R;BLEASING PAQM ALL LIABILITY QLMu~"TED CO3,f~+lY, II~C. AS PRINCIPAL
<br />AND MARYI.A~iD CASUALTY Ct~ANY, AS SUS t~T VARIOUS BEI~IDS DESCRIBED AS
<br />FdLT~W3t StTBDIVISIt~ Na. 1, I~YLLY DRIVE II~ROVE~t~1T B{~ N0. 9€?~-59]r91~
<br />DATED 3FA" lb~ 195$, IN T I~ AI~k'l OF X33, 7,50„0Q AND SAS &~I+TD
<br />N0. 90-591-9~3 DATI~D SE€''PE~1B~ lb, 1~8~ IN TDE t~+t4II+~AL t' '~,b50.O0
<br />AND StJ~33P,QUffiVTI,Y zr~~ BY ~3,500,0o TO A Tt~'AL PENAi~TY ~ ~u.,15o.OO:
<br />_~ SUBDIGISIt~!T No. 2, ~r DRIVE za~V~~ Bc~D ~. 9c~.6~4-8~9, D;~~n
<br />Jt1NE 8f 1959, IN THE ANIOITNT E~' ~l.,~b.OO AND 3ID$~it~ Bfl~'? NQ, 90-b39-a28
<br />DATED Jt11~E 8, 1959, IN THE A~?UNT E~' $$,L~O1.tX) SUHSSQUE~T`LY ~ BY
<br />~^,599.4C TO A TOTAL PENAT.TY OF $7J.,Af~lO.t)Qr SUBIIIPI3IE'~ NO. ~' 9P~tttCE
<br />DRIV$ I~1f'Rf'~'ffi!!~N'T Bt~t3 Na. 90-b96.~1~ DATED MA7r 2, 1, z~ ~~ Are c~
<br />~t1,1b9.O0, AND sUBJE~r To THE RE'!'~NTIC~+i r~' slD~te~ B~ NQ, 9a~b~b-~it~,
<br />DATED MAY 2, 1960, IN THE AMt}i1NT t~' ~"1, 650,c~, AND II~CLitl~ING AN EN~t~BttCy .
<br />WHFRF.~lIS, the Engineer has heretofore reported to Council that all of
<br />the improvements have been cc~pleted by Olmsted Colony, IBC. the develmper, in
<br />its Subdivisions Nos, 1, 2 and 3 ~,rS.th the except3.©n of the sidewalk in Olmsted
<br />Colony Subdivision No. 3, and that said improvements compl3.ed with the plans
<br />and specifYcations heretofore approved by the Gity fer the proposed impra-ve~nts
<br />in the aforesaid sicns, and
<br />I+~RE,AS, pursuant to said recomerendation Council did by R~lution
<br />bl-1, enacted Jaauat~r 3, 19b1, accept for dedieatisn fD~ns~sd Co1.e»gr ~div3.s~.cn$
<br />Nos. 1, 2 and 3, subject to the completion in Sub~3:vision No. 3, by the developer
<br />of the sid+~alks and directing is s aid resolution f~ dedioatiea, that the sd~rallc
<br />bond heretofore deposited with the City by Olmsted C©lonOr Ica. as pri~ipal and
<br />Ma~ylaad Casualty Compangr, as surety, in the sum of ~7,b50.O0 be retaixied.
<br />NOW, THIl~EFORE, BE I'P RESOLVED by the Council of the City of 0lxsted
<br />State of Ohior
<br />Section li That bonds heretofore deposited with this City by Opted
<br />Colo~yr, Inc, as principal acrd Mary7.and Gasualty Compa~r, as surety, to cover the
<br />various iaprovets required for Olmsted Cola~*, Inc. Subdivisio~rl~s. 1, 2 and
<br />3, and by virtue of said subdivisions having been accepted for dedication, do
<br />hereby release Olmsted Colonpr, I~tc. as principal and Maryland Gasualty Company
<br />as Surety on said bonds, identified as f®lloxst
<br />Bonn No. 90-591-912. arul 9Cl•591-913 in th® amounts of ~33,150.OO azu~ 11,10.00
<br />respective~r on Olmsted Colony, Inc. Subdivision No. 1.
<br />Bond No, 90•b39-828 and 90-b39-62~ in the amounts of ~11,O0(?.D0 and ~1i.7.,81~6.O0
<br />respectively on Olmsted Calmer, Inc. Subdivision No, 2s and
<br />Bond No. 90-69b-812 in the amour of 1,169.f~3 on U7ffisted Col~yr Subdivisi~an
<br />No. 3 retaining in full farce and effect Bond No. 9O-b9b-810, dated Ir 2, 196Q,
<br />on Olmsted Colanq, Inc. Subdivision No. 3, Which band given by C3lmsted Cols~r, Inc.
<br />as principal cad Maxgland Casualty Caoepa,ny, as Surety to the City ot" Vieth Bested
<br />in the sum of #7,b5O.oo guaranteeing the installation of a s3de~I1c in 03ssrted
<br />Colony, Inc. Subdivision, No, 3, to be ixi acccrdanae with the ord s anal reso-
<br />lutions of the City of North 01mst®d and in aacc-rdance ~rlth tlra grse~d im~-rov
<br />plan for said sidewalk within said Subdivision heretofore appr~rred by~ Cou~il of
<br />said City.
<br />Section 2r Wherefcxre, this resolution is hereby declared to be an
<br />emergency measure and each eme~rganay exists by virtue of the ~reQessitp of pre-
<br />serving the public w~,~r® of the City of North t~lmsted and by vistue of the
<br />necessity of providing for the ca~sellation of bonds heretofore referred to 3.n
<br />Section 1 hereofr at the earliest pvseibls date, as the developer, t~lmsted Colony
<br />Inc, has complied with the improveme~tt plans far the develvper~s subdivisions
<br />with the ezrcepti®n noted i.n Section 1 hereof, and that by virtue of the com~-letion
<br />of said 3.s~rovements within said Subdivisions of the devele~per, said streets therein
<br />located have been accepted for dedication by the City by virtue of Resoluti~an 61.1,
<br />enacted January 3, 19b1.
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