HomeMy Public PortalAbout1996_04_23_R073The Town
Leesburg,
.rg ma
PRESENTED April 23~ 1996
RESOLUTION NO. 96-73
ADOPTED April 23, 1996
A RESOLUTION:
AUTHORIZING A TIME EXTENSION FOR INSTALLATION 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 previously
approved time extensions; 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 the NationsBank was provided
by the developer to guarantee thc installation of public improvements tbr Exeter Section 3; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$303,051.00 to guarantee installation of the remaining public improvements for Exeter Section 3.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extenskm of six (6) months tbr the installation of public improvements is
hereby approved for Exeter Section 3.
SECTION [I. Thc letter of credit from the NationsBank in the amount of $303,051.00 is
approved to guarantee thc installation of public improvements for Exeter Section 3.
PASSED this 23rd day of April , 1996.
Clerk of Council
James E. Clem, Mayor
Town of Leesburg
R:exeter3.res