HomeMy Public PortalAbout1988_02_10_R032cs§urg in ~rirginin
PRESENTED ~ 1988
RESOLUTION NO. 88-32 ADOPTED February 10, 1988
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELE2%SING THE PERFORMANCE BOND
AND APPROVING A MAINTENANCE BOND FOR PUBLIC IMPROVEMENTS,
EXETER HILLS SUBDIVISION, SECTION IV
WHEREAS, the developer of Exeter Hills Subdivision, Section IV has
completed public improvements, in accordance with approved plans and town
standards, and these have been inspected and approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The irrevocable letter of credit from Providence Savings and
Loan Association of Vienna, Virginia in the amount of $51,04'7.00 is
released, and a new letter of credit for a maintenance guarantee in the
amount of $9,663.00 from Providence Savings and Loan Association of Vienna,
Virginia in a form approved by the town attorney is approved, and shall be
in effect for a period of one year from this date.
SECTION II. The developer shall execute a stormwater detention
maintenance agreement with the town as approved by the town attorney and
shall provide a letter of credit or other surety in a form approved by
the town attorney in the amount of $2,000.00 to guarantee maintenance of the
temporary stormwater detention pond. This surety shall be valid for a
minimum of 5 years.
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE BOND AND APPROVING
A MAINTENANCE BOND FOR PUBLIC IMPROVEMENTS, EXETER HILLS SUBDIVISION,
SECTION IV
SECTION III. This release is contingent upon delivery of a properly
executed instrument conveying unto the town all such improvements and
easements free of any liens or changes.
PASSED this 10th day of
ATTEST:
Clerk of~o'uncll '-
February , 1988.
Town of Leesburg