HomeMy Public PortalAbout1995_01_24_R015The Town o/
Leesburg,
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PRESENTED January 2/,~ ].995
RESOLUTION NO. 95-15 ADOPTED January 26, ].995
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION 9
WHEREAS, Richmond American Homes, the developer of Exeter Section 9, 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 six (6) month time extension to complete the public
improvements; and
WHEREAS, a corporate surety bond in the amount of $313,360.60 from American Motorist
Insurance Company was provided by the developer to guarantee the installation of public improvements
for Exeter Section 9; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$313,360.60 to guarantee installation of the remaining public improvements for Exeter Section 9.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of six (6) months for the installation of public improvements is
hereby approved for Exeter Section 9.
SECTION II. The corporate surety bond from American Motorists Insurance Company in the
amount of $313,360.60 is approved to guarantee the installation of public improvements for Exeter
Section 9.
PASSED this 24th
~'~erk of Council
day of January
, 1995.
· Clem, Mayor
Town of Leesburg
R:exeter9.res