HomeMy Public PortalAbout1992_10_27_R205 The Town of
l esburg,
'Wirginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED October 27, 1992
92-205 ADOPTED October 27, 1992
AUTHORIZING A TIME EXTENSION FOR INSTAI,I,ATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
EXETER SECTION 5
ATTEST:
Clerk of Council'
R:exe5.res
James E. Clem, Mayor
Town of Leesburg
PASSED this 27th day of October , 1992.
WHEREAS, Richmond American Homes, the developer of Exeter Section 5, has not completed all
the required public improvements in accordance with the approved construction drawings and town
standards within the two (2) year period agreed to in the contract for public improvements; and
WHE~, the developer has requested a one (1) year time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond from American Motorists Insurance Company was provided
by the developer to guarantee the inst~llution of public improvements in Exeter Section 5; and
WHEREAS, the Director of Engineering and Public Works has approved the umount of $517,047.00
to guarantee inst~llstion of the remaining public improvements in Exeter Section 5.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of one (1) year for the inst~llution of public improvements is
hereby approved for Exeter Section 5.
SECTION II. The corporate surety bond from American Motorists Insurance Company in the
Amount of $517,047.00 is approved to guarantee the instsllAtion of public improvements in Exeter Section