HomeMy Public PortalAbout2004_05_11_r066The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 11, 2004
2 0 04'6 6 ADOPTED May 11, 2004
AUTHORIZING AN AGREEMENT AND APPROVING A
SUBSTITUTE GUARANTEE FOR HAWKS VIEW GLEN AND
RELEASING THE CORPORATE SURETY BOND FROM PULTE
HOME CORPORATION
WHEREAS, Council Resolution/f2004-01 approved a corporate surety bond from the
Safeco Insurance Company in the amount of $242,023.00 as security to guarantee installation of
public improvements by Pulte Home Corporation, as shown on plans approved by the Director of
Engineering and Public Works for Hawks View Glen; and
WHEREAS, Pulte Home Corporation is selling this property to Washington Homes, Inc.,
and
WHEREAS, Washington Homes, Inc., has requested to replace the previously approved
corporate surety bond with its corporate surety bond from the Fidelity and Deposit Company of
Maryland and is requesting approval of same; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a
contract and acceptance of the corporate surety bond from the Fidelity and Deposit Company of
Maryland.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The manager shall execute a contract for public improvements with
Washington Homes, Inc., for the improvements shown on plans approved by the Director of
Engineering and Public Works for the Hawks View Glen.
A RESOLUTION:
-2-
AUTHORIZING AN AGREEMENT AND APPROVING A
SUBSTITUTE GUARANTEE FOR HAWKS VIEW GLEN AND
RELEASING THE CORPORATE SURETY BOND FROM PULTE
HOME CORPORATION
SECTION II. The substitute corporate surety bond from the Fidelity and Deposit
Company of Maryland provided by Washington Homes, Inc., in the amount of $280,000.00 in a
form approved by the Town Attorney is approved.
SECTION llI. The corporate surety bond fi.om the Safeeo Insurance Company provided
by Pulte Home Corporation in the amount of $242,023.00 is released contingent upon approval
by the Town Attorney of the substitute corporate surety bond from the Fidelity and Deposit
Company of Maryland provided by Washington Homes, Inc.
PASSED this 11t~ day of May 2004.
Town of Leesburg
&of Council
R04:HawksVie~vGten ReplCntBnd