HomeMy Public PortalAbout1988_10_25_R208I~csBurg in ~rirginia
PRESENTED October 25~ 1988
RESOLUTION NO. 88-208 ADOPTED October 25~ 1988
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE BOND AND APPROVING A MAINTENANCE BOND FOR PUBLIC IMPROVEMENTS IN
THE FIELDSTONE APARTMENTS
WHEREAS, Pulte Home Corporation, the builders of the Fieldstone
Apartments 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 no. 6281 from First
American Bank in the amount of $100,000.00 is released, and a new letter of
credit for maintenance guarantee in the amount of $25,000.00 from First
American Bank 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. 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 25th day of
ATTEST:
Clerk of ~uncil
October , 1988.
Robert E Sevlla, Mayor
Town of Leesburg