HomeMy Public PortalAbout1989_02_14_R033LeesBurg in ~'rginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED February 14, 1989
89-33 ADOPTED February 14, 1989
ACCEPTING PUBLICIMPROVElVIENTS, RELEASING THE PEi%FORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE
FOR PUBLIC IMPROVEMENTS IN POTOMAC CROSSING SECTION lI
WHE~, CLPS Leesburg Joint Venture, the developer of Potomac Crossing Section 1I has
completed the public improvements in accordance with approved plans and town standards, and these
have been inspected and approvech
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from United Savings Bank in the amount of
$82,315.00 is released, and a new surety in a form approved by the town attorney for a msintenance
guarantee in the amount of $20,578.00 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.
SECTION III. This release is also contingent upon payment to the town by CLPS Leesburg
Joint Venture the amount of $40,235.00 for installstion of street lights.
PASSED this 14th day of February , 1989.
ATTEST:
"7
Clerk of Co,cji
bert,_ Jr., Vice-Mayor
Town of Leesburg