HomeMy Public PortalAbout1991_08_13_R176The Town of
Leesburg,
Tirginia
RESOLUTION NO. 91-17 6
A RESOLUTION:
PRESENTED August 13, 1991
ADOPTED August 13, 1991
ACCEPTING PUBLIC IMPROVEMENTS, REI.EASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR PUBLIC
IMPROVEMENTS AT BEAUREGARD ESTATES PHASE I
WHEREAS, NP Corporation, the developer of Beauregard Estates Phase I, has completed the public
and bonded 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 Signet Bank/Maryland in the amount of
$206,991.84 is released, and a new surety in a form approved by the town attorney for a maintenance
guarantee in the amount of $51,747.96 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 13th day of August , 1991.
ATTEST:
Clerk bf Council
beauregard.est
Robert E. Sevila, Mayor
Town of Leesburg