HomeMy Public PortalAbout1992_06_09_R084The Town of
Leesburg,
Virginia
RESOLUTION NO. 92- 84
A RESOLUTION:
PRESENTED June 9, 1992
ADOPTED June 9, 1992
AUTHORIZING A TLME EXTENSION FOR INSTALI.ATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
EXETER 9
9ch dayofRo ,~une ~ _~., 1992.
Town of Leesburg
ATTEST:
Clerk of Council
r:exeter.9
Section 9.
PASSED this
WHEREAS, Richmond American Homes, the developer of Exeter 9, 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 (1) year time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond in the amount of $1,024,292.00 from American Motorists
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Exeter Section 9; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$1,024,292.00 to guarantee installation of the remaining public improvements in Exeter Section 9.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of one year for the installation of public improvements is hereby
approved for Exeter Section 9.
SECTION II. The corporate surety bond from American Motorists Insurance Company in the
amount of $1,024,292.00 is approved to guarantee the installation of public improvements in Exeter