HomeMy Public PortalAbout1994_05_10_R093The Town of
Leesburg,
.rg ma
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 10, 1994
94-93 ADOPTED May 10~ 1994
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTSAND APPROVING A PERFORMANCE GUARANTEE
FOR STONEGATE PHASE 1, SECTION 3
approved.
PASSED this 10th day of
AT, aTEST:
Clerk of Council
A time extension to June 4, 1995 for completion of the public improvements is
May , 1994.
--~James E. Clem, Mayor
Town of Leesburg
R:stongate.res
SECTION II.
Phase 1, Section 3.
WHEREAS, Trafalgar House, the developer of Stonegate Subdivision Phase 1, 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 corporate surety bond in the amount of $87,417.40 from the American Home
Assurance Company was provided by the developer to guarantee the installation of public improvements
in Stonegate Phase 1, Section 3.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the American Home Assurance Company in the
amount of $87,417.40 is approved to guarantee the installation of public improvements in Stonegate