HomeMy Public PortalAbout2011_02_08_R014 Village at Leesburg Russell Branch Pkwy EASTThe Town of
Leesburg,
Virginia
RESOLUTION NO. 2011 -014 ADOPTED: February 8, 2011
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR VILLAGE AT LEESBURG RUSSELL BRANCH
PARKWAY EAST
WHEREAS, Springfield East L.C., the developer of Village at Leesburg Russell Branch Parkway
PRESENTED: February 8, 2011
East has completed the public improvements in accordance with approved plans and Town standards and
these have been inspected and approved; and
WHEREAS, the Deputy Director of Public Works recommends accepting the public improvements
and approving a maintenance guarantee for Village at Leesburg Russell Branch Parkway East.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond in the current amount of $1,457,000 from Lexon Insurance
Company is released, and acceptance of a corporate surety bond from Lexon Insurance Company for a
maintenance guarantee in the amount of $263,900 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 8th day of February, 2011.
4fi'ET:
XL
Clerk of.Co'rtit
P: \Resolutions \Resolutions 2011 \0208 Village at Leesburg Russell Branch Parkway East.doc
C. mstattd, Mayor
Town of Leesburg