HomeMy Public PortalAbout2003_01_14_r003 Perf Guar for Fort Evans PlazaThe Town of
l eesburg,
PRESENTED January 14, 2003
RESOLUTION NO. 2003-3 ADOPTED January 14, 2003
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PUBLIC IMPROVEMENTS AT FORT EVANS PLAZA
WHEREAS, Fort Evans Plaza Limited Partnership, the developer of Fort Evans Plaza has
completed the public improvements in accordance with approved plans and town standards and these
have been inspected and approved; and
WHEREAS, the Director of Engineering and Public Works recommends accepting the public
improvements and approving a maintenance guarantee for Fort Evans Plaza.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the Lumbermens Mutual Casualty Company in
the amount of $975,000.00 is released, and a new security in a form approved by the town attorney for a
maintenance guarantee in the amount of $47,500.00 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 14tn day of January_ 2003.
ATTEST:
~uncil
~'fi'~C. Ut~rr~stattd, Mayor
Town of Leesburg
R:FtEvansPlazaPerfRel