HomeMy Public PortalAbout1979_04_11_R059RESOLUTION NO.
A RESOLUTION:
TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTEDApril 11, 1979
79-~9 ADOPTED April 11~ 1979
APPROVING STANDARD SUBDIVIDER'S AND DEVELOPER'S PERFORMANCE BOND
RESOLVED by the Council of the Town of Leesburg, Virginia as follows:
Subdivider's and developer's bonds shall be submitted for approval
in substantially the following form:
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
PC-3
That we,
(Subdivider/Developer)
(called "Principal" herein) and ,
(Surety Company)
a corporation organized under the laws of and authorized
(State)
to conduct business in the Commonwealth of Virginia (called "Surety"
herein), are held and firmly bound unto the Town of Leesburg, a municipal
corporation of Virginia (called "Town" herein), in the sum of
Dollars ($ ) for the
payment of which we and each of us bind ourselves, our heirs, executors,
administrators, successors and assigns, jointly and severally, for the
faithful performance of a certain written contract, dated ,
19__, entered into between the Principal and the Town for the construction
of streets, curbs, gutters, sidewalks, drainage or sewerage systems or
other improvements, as the case may be, for the subdivision or development
known as ,
Said contract is incorporated herein by reference and made a part hereof
as if fully set out herein.
NOW, THEREFORE, the condition of this obligation is such that
if said Principal constructs or installs at its expense the improvements
set forth in said contract, all in accordance with the specifications and
ordinances of the Town and contained in plans and specifications prepared
bM , dated
(Subdivider/Developer's Engineer)
, 19___, and approved by the Town Director of Engineer-
ing, within one year from the date hereof, then this obligation shall be
void; otherwise to remain in full force and effect.
-2-
IN WITNESS WHEREOF, this instrument has been executed by duly
authorized representatives of the Principal and Surety this day of
, 19 .
PRINCIPAL
BY
(SEAL)
ATTEST:
Title
(Secretary)
(SEAL)
ATTEST:
SURETY
BY
(Attorney-in-Fact)
(Resident Agent)
PASSED this llth day of
ATTEST:
April , 1979.
B. Rollins, Mayor
Town of Leesburg
Clerk of Co~i