HomeMy Public PortalAbout1978_08_09_R151 TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
RESOLUTION NO.
A RESOLUTION:
78-151 PRESENTED August 9, 1978
ADOPTED August 9, 1978
AUTHORIZING AN AGREEMENT OF GENERAL RELEASE.
WHEREAS, there is presently pending a certain controversy
before the American Arbitration Association in Washington, D. C.,
between Hercules Construction Corporation and the Town of
Leesburg, entitled Arbitration No. 16 10 0121 77, involving a
construction contract for Phase III of Leesburg's storm drainage
improvements, December 1976; and
WHEREAS, said arbitration included a claim for work per-
formed and performance of extra work in the amount of $48,475 as
more particularly set forth in a demand for arbitration dated
October 14, 1977 and a further claim for Hercules for delay,
damages and added costs incurred because of extended performance,
as more particularly set forth in a further demand for arbitration
dated December 6, 1977; and
WHEREAS, Hercules and Leesburg consider it to be in their
mutual best interests to settle, release and discharge the claims
made by Hercules against Leesburg in lieu of formal arbitration:
THEREFORE, RESOLVED by the Council of the Town of Leesburg
in Virginia, as follows:
The Mayor is authorized and directed to execute on behalf
of the Town an agreement of general release between Hercules
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Construction Corporation and the Town of Leesburg in a form
prePared and approved by special counsel for the Town.
PASSED this 9th day of~ August , 1978.
ATTEST:
Rollins, Mayor
Town of Leesburg
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