HomeMy Public PortalAbout1989_02_14_R034L ,iii
eesourg in ~Zirginia
RESOLUTION NO.
A RESOLUTION:
PREMED February 1/,: 1 089
29-34 ADOPTED February 14, 1989
A~G PUBLIC IMPROVEMENTS, REI,RA~ING
THE PERFORCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTER FOR PUBLIC IMPRO~ IN RATrLEFIEI~
PARKWAY IN EXETRR PHASE I
WH~REA~, Rictunond American, the developer of Battlefield Parkway in Exeter Plmse I bas
completed the public improvements in accordance with approved ptsns and town standards, and these
have been inspected and approved.
THEREFORE, P~SOLVED b~ the Council of the Town of Leesburg in V'n~inia as follows:
SECTION I. The corporate surety bond from Ameri_cs- MoWris~ Insurance Company in the
mount of $169,504.00 is released, and a new surety in a form approved by the town attorney for a
msi-~enance guarantee in the amount of ~M?,,876.00 is approved, and shsll be in effect for a period of
one year from this date.
SECTION H. ~ release is contingent upon delivery of a properly executed iustrument
convelring unto the town all such improvements and easements free of any liens or changes.
SECTION HI. This release is also contingent upon paFlnent to the town by Ri~-hmond American
the amount of $45,787.00 for instsllstion of street li~ts.
PASSED this 14th day of February
ATTEST:
Clerk of ~
,1989.
I'John W. Tolbert,
Town of Lee~burg
Jr., Vice-Mayor