HomeMy Public PortalAbout2010_04_27_R042 Perf Guarantee Village @Leesburg Traffic SignalsThe Town o f
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PRESENTED: Anri127, 2010
RESOLUTION NO. 2010-042 ADOPTED: Apri127, 2010
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING
THE PERFORMANCE GUARANTEE, AND APPROVING A
MAINTENANCE GUARANTEE FOR VILLAGE AT LEESBURG-
TRAFFIC SIGNALS ON RUSSELL BRANCH PARKWAY WEST
WHEREAS, Springfield East, L;.C., the developer of Village at Leesburg-Traffic Signals
on Russell Branch Parkway West has completed the public improvements in accordance with
approved plans and Town standards and these have been inspected and approved; and
WHEREAS, Springfield East, L.C., is also the developer of Village at Leesburg-Russell
Branch Parkway West; and
WHEREAS, the construction of Village at Leesburg-Russell Branch Parkway West is not
100% complete; and
WHEREAS, damage may still occur to Village at Leesburg-Traffic Signals on Russell
Branch Parkway West from the construction of Village at Leesburg-Russell Branch Parkway
West; and
WHEREAS, the Director of Public Works recommends accepting the public
improvements and approving a maintenance guarantee for Village at Leesburg-Traffic Signals on
Russell Branch Parkway West.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. Springfield East, L.C., the developer for Village at Leesburg-Traffic
Signals on Russell Branch Parkway West shall be responsible for any and all damages and any
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A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING
THE PERFORMANCE GUARANTEE, AND APPROVING A
MAINTENANCE GUARANTEE FOR VILLAGE AT LEESBURG-
TRAFFIC SIGNALS ON RUSSELL BRANCH PARKWAY WEST
and all subsequent repairs necessary to Village at Leesburg-Traffic Signals on Russell Branch
Parkway West caused by the construction of Village at Leesburg-Russell Branch Parkway West.
SECTION II. The corporate surety bond in the current amount of $513,000 from the
Lexon Insurance Company is released and acceptance of a corporate surety bond from Lexon
Insurance Company for a maintenance guarantee in the amount of $25,650 is approved and shall
be in effect for a period of one year from this date.
SECTION III. 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 27th day of April, 2010.
i~
n C. mstattd, Mayor
Town of Leesburg
AT EST:
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Clerk of Co c'
P:UtesolutionsUtesolutions 2010\0427 Perf Guarantee Village at Leesburg Traffic Signals.doc