HomeMy Public PortalAbout1995_12_12_R255 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED December 12~ 1995
95-255 ADOPTED December 12~ 1995
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR PAXTON SECTION 2
SECTION II.
approved.
PASSED this
Clerk of Council
A time extension to April 30, 1996 for completion of the public improvements is
12th day of December , 1995.
oweS E. Clem, Mayor
n of Leesburg
R:paxton2.res
WHEREAS, the Paxton Development Company, the developer of Paxton 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
the previously approved extension which expired on November 28, 1995; and
WHEREAS, the remaining punch list items are small and the final paving cannot be installed
until the Spring; and
WHEREAS, the developer has requested a five (5) month time extension to complete the
remaining public improvements; and
WHEREAS, a letter of credit from F & M Bank-Winchester in the amount of $47,593.22 was
provided by the developer to guarantee the installation of public improvements in Paxton Section 2.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from F & M Bank-Winchester in the amount of $47,593.22 is
approved to guarantee the installation of public improvements in Paxton Section 2.