HomeMy Public PortalAbout1997_01_14_R004The Town o/
Leesburg,
rg nta
RESOLUTION NO.
A RESOLUTION:
PRESENTED January 14~ 1997
97-4 ADOPTED January 14, 1997
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT EXETER SECTION 5
WHEREAS, Richmond American Homes, the developer of Exeter Section 5 has completed the public
improvements in accordance with approved plans and town standards, and these have been inspected and
approved.
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 $171,543.60 is released, a new security in a form approved by the town attorney for a maintenance
guarantee in the amount of $85,771.80 is approved, and shall be in effect for a period of one year from this
date.
SECTION II. This release is contingent upon delivery of a properly executed instrument conveying
unto the town all such improvements and easements free of any liens or charges.
PASSED this 14th day of January
ATTEST:
Clerk of Council
, 1997.
J~es E. Clem, Mayor
/Town of Leesburg
R: exesec5, rel