HomeMy Public PortalAbout1997_01_28_R023 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED January 28, 1997
97-23 ADOPTED January 28, 1997
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT THE FORT BEAUREGARD TOWNHOUSES
WHEREAS, F & M Bank, Winchester, the developer of the Fort Beauregard Townhouses 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 letter of credit from the F & M Bank - Massanutten in the amount of $67,500.48
is released, a new security in a form approved by the town attorney for a maintenance guarantee in the amount
of $16,875.10 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 28th day of January , 1997.
J~s E. Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council
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