HomeMy Public PortalAbout1994_04_26_R086 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED April 26, 1994
94-86 ADOPTED April 26, 1994
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SUBDIVISION SECTION 3
WHEREAS, Pulte Home Corporation, the developer of Exeter Section 3, 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 letter of credit in the amount of $303,050.60 from NationsBank was provided by
the developer to guarantee the installation of public improvements in Exeter Section 3.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from NationsBank in the amount of $303,050.60 is approved
to guarantee the installation of public improvements in Exeter Section 3.
SECTION II.
is approved.
A time extension to April 29, 1995 for completion of the public improvements
PASSED this 26th day of April ,1994.
ATTEST:
Clerk of Council
James E. Clem, Mayor
Town of Leesburg
R:exesec3.res