HomeMy Public PortalAbout1998_12_08_R280The Town of
Leesburg,
Virg' '
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RESOLUTION NO.
A RESOLUTION:
PRESENTED December 8, 1998
98- 280 ADOPTED December 8, 1998
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR POTOMAC CROSSING SECTION 3Al
improvements is approved.
PASSED this 8th day of December, 1998.
ATTEST:
Clerk of Council
J~es E. Clem,
Mayor
Town of Leesburg
R:potcr3A 1
WHEREAS, Arcadia Building Company, the developer of Potomac Crossing Section 3Al, 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 $122,643.70 from The American
Insurance Company was provided by the developer to guarantee the installation of public improvements
in Potomac Crossing Section 3Al.
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 $122,643.70 is approved to guarantee the installation of public improvements in Potomac Crossing
Section 3Al.
SECTION II. A six (6) month time extension to March 17, 1999 for completion of the public