HomeMy Public PortalAbout1989_01_10_R005Lccsl~rg ~n ~v~irgin~a
PI~~ January 10, 1989
ltESOL~ON NO. 89-5 ADO~D January 10, 1989
A RESOLUTION; ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PUBLIC IMPROVEMENTS IN B~T,T,~IV[F_,ADE FARMS
WHEREAS, Lokey Construction Company, the developer of Bellemeade Farms has completed
the public improvements in accordance with approved plans and town standards, and these have been
inspected and approvecL
THEREFORE, RESOLVED by the Council of the Town of Leesburg in 'fwginia as follow~
SECTION I. The irrevocable letter of credit from First American ~ni, in the amount of
$48,000.00 is released, and a new surety in a form approved by the town attorney for a nmintellatlce
guarantee in the amount of $12,000.00 is approved, and shall be in effect for a period of one year from
this date.
SECTION H. 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 chsnges.
PASSED this 10Ch day of January , 1989.
Town of Leesburg
A~EST:
¢.