HomeMy Public PortalAbout1990_06_13_R127L .a£
eesourg in C~irginia
REMOLUTION NO. 90-127
PRESENTED June 13, 1990
ADOPTED June 13, 1990
A RESOLUTION: ACCEPTING A SUBSTITUTE CONTRACT FOR INSTAI,L&TION OF PUBLIC
IMPROVEMENTS AND PERFORMANCE GUARANTEE AND AUTHORIZING
A TIME EXTENSION FOR INSTAI,I,ATION OF PUBLIC IMPROVEMENTS FOR
POTOMAC CROSSING SECTION 1G
WHEREAS, the CLPS Leesburg Joint Venture (Grimm Company), the developers of Potomac
Crossing Section 1G tins 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 plus approved time exteusious; and
WHEREAS, the Potomac Crossing Corporation has replaced the CLPS Leesburg Joint Venture
as the owner and developer of Potomac Crossing;, and
WHEREAS, the letter of credit from United Savings Bank, provided by the CLPS Leesburg Joint
Venture which guarantees the instmllstion of public improvements in Potomac Crossing Section 1G,
in the amount of $84,621.00 will expire on June 20, 1990; and
WHEREAS, a new letter of credit from United Savings Bank in the amount of $84,621.00
been provided by the Potom-~- Crossing Corporation to guarantee inst~llstion of the remaining public
improvements for Potomac Crossing Section 1G; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $84,621.00
to guarantee inst~ll-tion of the rem,lnlng public improvements in Potomac. Crossing Section 1G.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Manager shall execute the substitute contract for public improvements
signed by the Potomac Crossing Corporation for the improvements shown on the plans approved by
the Director of Engineering and Public Works for Potomac Crossing Section 1G.
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A RESOLUTION: POTOMAC CROSSING SECTION 1G
SECTION H. The letter of credit from United Savings Bank in the mount of $84,621.00 in a
form approved by the Town Attorney and a time extension to September 1, 1990 for the ixls~llstion
of public improvements in Section 1G are hereby approved.
SECTION III. In the event the public improvements in Potomac Crossing Section 1G are not
satisfactorily completed, as determined by the Director of Engineering and Public Works, prior to
August 24, 1990, the Town Manager is hereby authorized to declare the developer in default of his
contract and the Manager is authorized to request payment pursuant to the letter of credit from
United Savings Bank.
PASSED this 13th day of June ., 1990.
ATTEST:
~lerk of cotmcilt- )' ~
potomac. Ag
Robert E. Sevila, Mayor
Town of Leesburg