HomeMy WebLinkAboutCity Council Resolution 1993-063CITY OF PLYMOUTH
RESOLUTION NO. 93- 63
APPROVING A SETTLEMENT AGREEMENT BETWEEN THE
CITY OF PLYMOUTH AND BEGIN CONTRACTING COMPANY
WITH RESPECT TO DISTRICT COURT FILE NO. 89-014145
WHEREAS, the City commenced litigation in Hennepin County District Court against
the Begin's and Begin Contracting Company for non-performance under an April 6,
1987 agreement which required that a retaining wall be constructed; and
WHEREAS, a settlement agreement has been drafted under which the City is afforded
appropriate liability protections and assurances that a retaining wall will be constructed
immediately following the grading for Xenium Lane Extension, City Project 214; and
WHEREAS, under the agreement the Begin's are responsible for providing a letter of
credit in the amount of $60,000 to ensure completion of the retaining wall; and
WHEREAS, the Begin's are to provide a $12,500 remittance for full payment of City
Attorney's fees in connection with the agreement up until the date of the agreement;
and
WHEREAS, the Begin's are to provide proof of liability insurance acceptable to the
City for the benefit of the City against all claims in connection with the retaining wall;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA, that it should and hereby does authorize
the Mayor's execution of the settlement agreement dated January 25, 1993, and the
same is hereby approved contingent upon receipt and acceptance by the City within 30
days of this resolution of a letter of credit acceptable to the City Attorney in the amount
of $60,000, the remittance of $12,500 to the City of Plymouth for payment of attorney
fees, and a liability insurance policy acceptable to the City for the benefit of the City to
protect against all claims arising in association with the retaining wail or lack thereof.
Adopted by the City Council on January 25, 1993.