HomeMy Public PortalAbout2007_08_14_r121
The Town of
Leesburg,
Virginia
PRESENTED: August 14.2007
RESOLUTION NO. 2007-121
ADOPTED: August 14.2007
ARESOLUTION :
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR GEORGETOWN MEWS
WHEREAS, PHB Cider Mills LLC, the developer of Georgetown Mews 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 Georgetown Mews.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from the Community Bank of Northern Virginia in the current
amount of $107,924.30 is released, and acceptance of a letter of credit from Mercantile Potomac Bank for
a maintenance guarantee in the amount of $14,463.47 is approved, and shall be in effect for a pe riod 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 14th day of August 2007.
ATTEST: ~ __~_
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rk of Council
R07:GeorgetownMews PerfRei