HomeMy Public PortalAbout1997_08_12_R203 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED August 12, 1997
97-203 ADOPTED August 12, 1997
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
OLD WATERFORD KNOLL SECTION 1
improvements is approved.
PASSEDthis 12th dayof
./Z~/EST:
Clerk of Council
August ,1997.
J es~E.~lem, Mayor ~
--'I'own of Leesburg
R:oldwrext
WHEREAS, Richmond American Homes, the developer of Old Waterford Knoll Section 1, 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 in the amount of $112,946.80 from the Frontier Insurance
Company was provided by the developer to guarantee the installation of public improvements in Old
Waterford Knoll Section 1.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the Frontier Insurance Company in the amount of
$112,946.80 is approved to guarantee the installation of public improvements in Old Waterford Knoll
Section 1.
SECTION II. A six (6) month time extension to February 3, 1998 for completion of the public