HomeMy Public PortalAbout1981_04_08_R046 TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
RESOLUTION NO. 81-46 PRESENTED April 8, 1981
APPROVED April 8, 1981
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
BOND TO GUARANTEE INSTALLATION OF PUBLIC IMPROVEMENTS
FOR CATOCTIN CIRCLE INDUSTRIAL PARK, SECTION 2.
WHEREAS, the Planning Commission has approved the preliminary
plat and the Director of Engineering has approved the construction
drawings and cost estimates for public improvements in Section 2 of
Catoctin Circle Industrial Park.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in
Virginia as follows:
SECTION I. The Town Manager is authorized and directed to execute
the contract for public improvements for Section 2 of Catoctin Circle
Industrial Park.
SECTION II. The performance bond of SRL Properties, Inc., a
Maryland corporation, with S. Ross Lipscomb as surety thereon, in the
amount of $94,421.76 to guarantee installation of public improvements
for Section 2 of Catoctin Circle Industrial Park in accordance with
plans approved by the Director of Engineering, is approved, condi-
tioned upon recordation of a deed of trust between SRL Properties,
Inc. to George M. Martin, Trustee, on Lots 3 and 4 , Section 2 of
Catoctin Circle Industrial Subdivision, which trust shall secure the
terms, conditions, covenants and payment to the Town of Leesburg as
set forth in said performance bond.
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SECTION III. The developer shall submit a title certificate
that such deed of trust is a first lien on said lots.
SECTION IV. The performance bond, the deed of trust and
title certificate shall be subject to review and approval by the
Town Attorney.
SECTION V. Zoning permits for lots in Section 2 of Catoctin
Circle Industrial Subdivision will not be issued until the required
public improvements to Town Branch are substantially completed.
PASSED this 8th day of April , 1981.
Town of Leesburg
ATTEST:
Cle~ f Council
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