HomeMy Public PortalAbout1994_10_11_R214The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
94-214
PRESENTED October
ADOPTED October 11, 1994
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION 5
llth day of October ,1994.
Clerk-of Councii ~f --
Jas/mes E. Clem, Mayor
Town of Leesburg
R:exesec5.res
Section 5.
SECTION II.
is approved.
PASSED this
A time extension to October 9, 1995 for completion of the public improvements
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-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, the corporate surety bond in the amount of $343,087.00 from American Motorists
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Exeter Section 5.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the American Motorists Insurance Company in
the amount of $343,087.00 is approved to guarantee the installation of public improvements in Exeter