HomeMy Public PortalAbout1990_09_26_R246Le~sb"drg in ~irginia
RESOLUTION NO. ~0-246
PRESENTED September 26, 1990
ADOPTED September 26, 1990
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS IN FOXRIDGE SECTION 4
WHEREAS, Pulte Home Corporation, the developer of Foxridge Section 4, bas completed the
public improvements in accordance with approved plans and town standards and these have been
inspected and approve~L
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from Sovran Bank, N~ in the amount of
$572,680.00 is released and a new surety in a form approved by the town attorney for a maintenance
guarantee in the amount of $28,634.00 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 charges.
PASSED this 26th day of September , 1990.
ATTEST:
Clerk of Co~/feil
foxridge.a
Robert E. Sevila, Mayor
Town of Leesburg