HomeMy Public PortalAbout1995_01_10_R006 The Town of
Leesburg,
Virginia
RESOLUTION NO. 95-6
A RESOLUTION:
PRESENTED January 10, 1995
ADOFTED January 10~ 1995
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SUBDIVISION SECTION 4
WHEREAS, Pulte Home Corporation, the developer of Exeter Subdivision Section 4, 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 $1,296,502.00 from NationsBank was provided
by the developer to guarantee the installation of public improvements for Exeter Section 4; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$1,296,502.00 to guarantee installation of the remaining public improvements for Exeter Section 4.
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 installation of public improvements is
hereby approved for Exeter Section 4.
SECTION II. The letter of credit from NationsBank in the amount of $1,296,502.00 is approved
to guarantee the installation of public improvements for Exeter Section 4.
PASSED this 10th day of January
,1995
<fames E. Clem, Mayor
Town of Leesburg
R:exeter4.res