HomeMy Public PortalAbout1995_12_12_R251The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED December 12, 1995
95-251 ADOPTED December 12, 1995
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR KINCAID FOREST PHASE 1, SECTION 2
extension to December 21, 1996 for completion of the public
__ day of December
, 1995.
J~nes E. Clem, Mayor
Town of Leesburg
R:kincd2.res
Forest Phase 1, Section 2.
SECTION II. A time
improvements is approved.
PASSED this 12th
WHEREAS, the First Potomac Development Company, the developer of Kincaid Forest Phase
1, Section 2, 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 from the American Motorists Insurance Company in the
amount of $167,355.35 was provided by the developer to guarantee the installation of public
improvements in Kincaid Forest Phase 1, Section 2.
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 $167,355.35 is approved to guarantee the installation of public improvements in Kincaid