HomeMy Public PortalAbout1995_11_14_R226 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED November 14, 1995
95-226 ADOPTED November 14~ 1995
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION 3
WHEREAS, Pulte Home Corporation, the developer of Exeter 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 six (6) month time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $303,051.00 from NationsBank was provided by
the developer to guarantee the installation of the remaining public improvements in Exeter Section 3.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from NationsBank in the amount of $303,051.00 is approved
to guarantee the installation of public improvements in Exeter Section 3.
A time extension to April 29, 1996 for completion of the public improvements is
14th day of November ,1995.
SECTION II.
approved.
PASSED this
A~TEST:
Clerk of Council
oweSE. Clem,
Mayor
n of Leesburg
R:exeter3.res