HomeMy Public PortalAbout1998_10_27_R241 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
98-241
PRESENTED October 27,, 1998
ADOPTED October 27, 1998
AUTHORIZING A TIME EXTENSION WITH CONDITIONS FOR
COMPLETION OF PUBLIC IMPROVEMENTS AND APPROVING A
PERFORMANCE GUARANTEE FOR EXETER HILLS SECTION 5A
WHEREAS, K. Hovnanian Companies, the developer of Exeter Hills Section 5A, 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
previously approved time extensions; and
WHEREAS, the developer has requested a six (6) month time extension to complete the public
improvements; and
WHEREAS; the remaining public improvements are nearly complete with the exception of the
final paving and completion of the Mayfair Drive connection; and
WHEREAS, a corporate surety bond in the current amount of $170,691.80 from The American
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Exeter Hills Section 5A.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from The American Insurance Company in the amount
of $170,691.80 is approved to guarantee the installation of public improvements in Exeter Hills Section
5A.
SECTION II. A six (6) month time extension for completion of the public improvements is
approved with the following conditions:
1. All manholes, valve boxes and other utilities in roadways shall be winterized by the
ramping of asphalt or other approved method by November 20, 1998.
A RESOLUTION:
-2-
AUTHORIZING A TIME EXTENSION WITH CONDITIONS FOR
COMPLETION OF PUBLIC IMPROVEMENTS AND APPROVING A
PERFORMANCE GUARANTEE FOR EXETER HILLS SECTION 5A
2. Implementation of the 1998-1999 Winterization Program proposed by K. Hovnanian
Companies shall be completed by November 20, 1998.
SECTION III. Failure by the developer to meet any of the deadlines established in the
conditions of Section II will constitute a default under the contract. The developer may request
additional time extensions if the improvements are not completed due to factors beyond the developer's
control.
SECTION IV. The conditions of this resolution shall be incorporated as amendments to the
contract for installation of the public improvements for Exeter Hills Section 5A.
SECTION V. In the event the developer fails to meet any of the deadlines established in Section
II of this resolution then the Town Manager is hereby authorized to declare the developer in default of its
contract for public improvements for the Exeter Hills Section 5A Subdivision and to request payment
pursuant to the corporate surety bond from The American Insurance Company in the amount of
$170,691.80 and to prepare and execute all required documents and undertake all necessary actions to
enforce all terms of said contract.
PASSED this 27th day of October, 1998.
A~I'EST: ,
Clerk of Council
· Clem, Mayor
Town of Leesburg
R:exehl5a