The URL can be used to link to this page

Home My Public Portal About1995_01_10_R007 The Town of Leesburg, Virginia RESOLUTION NO. A RESOLUTION: PRESENTED January 10, 1995 95-7 ADOPTED January 10~ 1995 AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC IMPROVEMENTS,APPROVING AND MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR LINDEN HILL PHASE I1 WHEREAS, Linhab Development Company, the developer of Linden Hill Phase II, 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 $195,384.00 from The Fidelity and Deposit Company of Maryland was provided by the developer and approved by the Council to guarantee installation of public improvements for Linden Hill Phase II; and WHEREAS, the developer has requested that the corporate surety bond in the amount of $195,384.00 be reduced by $136,398.29 to $58,985.71; and WHEREAS, the town's Director of Engineering and Public Works has reviewed the public improvements installed to date in Linden Hill Phase II and certified that the value of the work performed is $136,398.29. THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as folloa, s: SECTION I. A time extension of one (1) year for the installation of public improvements is hereby approved for Linden Hill Phase II. SECTION II. The corporate surety bond from The Fidelity and Deposit Company of Maryland in the current amount of $195,384.00 is reduced to $58,985.71 and is approved to guarantee the installation of public improvements for Linden Hill Phase II. RESOLUTION: -2- AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC IMPROVEMENTS AND APPROVING AND REDUCING A PERFORMANCE GUARANTEE FOR LINDEN HILL PHASE II SECTION III. The Town Manager shall notify the developer that liability for the corporate surety bond funds has been reduced as outlined in Section I of this resolution and that this reduction does not constitute acceptance of public improvements by the town or relieve the developer of responsibilities outlined in the contract for public improvements for Linden Hill Phase II. PASSED this 10th day of Clerk of Council January , 1995 ~/James E. Clem, Mayor Town of Leesburg R:lindenII.res