HomeMy Public PortalAbout1988_10_25_R209Lccs~urg in ~rirgiuia
PRESENTED October 25, 1988
RESOLUTION NO. 88-209 ADOPTED October 25, 1988
A RESOLUTION: AUTHORIZING A TIME EXTENSION OF THE PERFORMANCE GUAR~2~TEE FOR
INSTALLATION OF PUBLIC IMPROVEMENTS FOR SOUTH HAVEN
SUBDIVISION
WHEREAS, Tedence Incorporated, the developers of South Haven
Subdivision have not completed all the required public improvements in
accordance with the approved construction drawings and town standards
within the two year period agreed to in the contract for public
improvements; and
WHEREAS, the letter of credit from Farmers and Merchants National Bank
of Hamilton, Virginia in the amount of $68,758.00 has expired; and
WHEREAS, a new letter of credit from Farmers and Merchants National
Bank of Hamilton, Virginia in the amount of $68,758.00 has been provided by
the developer to guarantee installation of the remaining public
improvements for South Haven Subdivision and this amount has been approved
by the Director of Engineering and Public Works:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The letter of credit from Farmers and Merchants National
Bank of Hamilton, Virginia in the amount of $68,758.00 in a form approved
by the Town Attorney and an extension of six months for the installation of
public improvements are approved.
-2-
AUTHORIZING A TIME EXTENSION OF THE PERFORMANCE GUARANTEE FOR INST~J.r.ATION
OF PUBLIC IMPROVEMENTS FOR SOUTH HAVEN SUBDIVISION
PASSED this 25th day of
ATTEST:
Clerk of Co~cil-
October , 1988.
Robert E. Sevila, Mayor
Town of Leesburg