HomeMy Public PortalAbout1991_03_12_R058 The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED March 12, 1991
91-58 ADOPTED March 12, 1991
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT THE JEWELL BUILDING
WHEREAS, the Sumner Leesburg Limited Partnership, the developer of the Jewell Building
has completed the public improvements in accordance with approved plans and town standards, and
these have been inspected and approved.
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.A. in the amount of
$60,000.00 is released, and a new surety in a form approved by the town attorney for a maintenance
guarantee in the amount of $3,000.00 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 12th day of March , 1991.
ATTEST:
jewell
Town of Leesburg