HomeMy Public PortalAbout1997_10_14_R238The Town of
Leesburg,
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PRESENTED October lt,, 1997
RESOLUTION NO. 97-238 ADOPTED October 1~-, 1997
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
EXETER SECTION 4
WHEREAS, Pulte Home Corporation, the developer of Exeter Section 4, 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 subsequent time
extensions; and
WHEREAS, the developer has requested a time extension to November 7, 1997 to complete the
remaining public improvements; and
WHEREAS, a letter of credit in the current amount of $259,300.00 from NationsBank was
provided by the developer to guarantee the installation of public improvements in Exeter Section 4.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from NationsBank in the amount of $259,300.00 is approved to
guarantee the installation of public improvements in Exeter Section 4.
SECTION II. A time extension to November 7, 1997 for completion of the public improvements
is approved.
PASSED this 14th day of October ., 1997.
Clerk of Council
J/es E. Clem, Mayor
Town of Leesburg
R:exeter4