HomeMy Public PortalAbout1998_02_24_R055The To~ o[
Leesburg,
Virginia
RESOLUTION NO. 98- 55
A RESOLUTION:
PRESENTED February 24, 1998
ADOPTED February 24, 1998
ACCEPTING PUBLIC IMPROVEMENTS,
PERFORMANCE GUARANTEE AND
RELEASING THE
APPROVING A
MAINTENANCE GUARANTEE FOR PUBLIC IMPROVEMENTS AT
OLD WATERFORD KNOLL SECTION 1
WHEREAS, Richmond American Homes, the developer of Old Waterford Knoll Section
1 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 Frontier Insurance Company in the
amount of $112,946.80 is released, a new security in a form approved by the town attorney for a
maintenance guarantee in the amount of $56,473.40 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 24th day of February, 1998.
ATTEST:
Clerk of Council
mes E. Clem, Mayor
Town of Leesburg
R:oldwtrs 1