HomeMy Public PortalAbout2011_02_08_R015 Village at Leesburg Russell Branch Pkwy WESTThe Town of
Leesburg,
Virginia
PRESENTED: February 8, 2011
RESOLUTION NO. 2011 -015 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 WEST
WHEREAS, Springfield East L.C., the developer of Village at Leesburg 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, the Deputy Director of Public Works recommends accepting the public improvements
and approving a maintenance guarantee for Village at Leesburg Russell Branch Parkway West.
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 $1,201,424 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 $339,950 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 8 day of February, 2011.
AT ST:
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Clerk of Council
P:\Resolutions \Resolutions 2011 \0208 Village at Leesburg Russell Branch Parkway West.doc
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Town of Leesburg