HomeMy Public PortalAbout1992_02_11_R020L
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PRESENTED February 11, 1992
ADOPTED February 11, 1992
FOR INSTAIJATION OF PUBLIC
RESOLUTION NO. 92- 20
A RESOLUTION: AUTHORIZING A TIME EXTENSION
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOIl
FOX CHASE SECTION II
WHEREAS, Pulte Home Corporation, the developers of Fox Chase Section II, has 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; and
WHEREAS, the developer has requested a one-year time extension to complete the public
improvements; and
WHEREAS, the developer has provided a new letter of credit in the amount of $184,042.00 from
C&S/Sovran Bank to guarantee the instanation of the remaining public improvements and to replace
the current letter of credit from First American Bank in the same amount; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$184,042.00 to guarantee installation of the remaining public improvements in Fox Chase Section II.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The new letter of credit from C&S/Sovran Bank in the amount of $184,042.00 in a form approved
by the Town Attorney and a time extension of one-year for the installation of public improvements
are hereby approved for Fox Chase Section II.
PASSED this llth day of Fo_bru~ry , 1992.
ATTEST:
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~~'~'Robert E. Sevilh( M~~~r
Town of Leesburg