HomeMy Public PortalAbout2010_05_25_R056 - Pub. Imprv. bond for Rivercreek, Phase VIIIThe Town of
Leesburg,
Virginia
PRESENTED: Mav 25.2010
RESOLUTION NO. 2010-056 ADOPTED: Mav 25. 2010
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING
THE PERFORMANCE GUARANTEE, AND APPROVING A
MAINTENANCE GUARANTEE FOR RIVERCREEK-PHASE VIII,
SECTION 2A, LANDBAY "J"
WHEREAS, River Creek, LLC, the developer of Rivercreek-Phase VIII, Section 2A, Landbay
"J" 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 Public Works recommends accepting [he public improvements and
approving a maintenance guarantee for Rivercreek-Phase VIII, Section 2A, Landbay "J".
THEREFORE, RESOLVED by [he Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond in the current amount of $208,318 from Fidelity and
Deposit Company of Maryland is released and acceptance of a corporate surety bond from Hartford Fire
Insurance Company for a maintenance guarantee in the amount of $10,415.65 is approved and shall be in
effect for a period of one year from [his date.
SECTION IL 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 25" day of Mav, 2010.
/
1 e C. U nstattd, Mayor
Town of Leesburg
"~X/S
Clerk of Co rc
P VtesolutionsVtesolmions 2010\0525 Rivtt Creek Pbaae VIII Public Mprovttnrnts.da