HomeMy Public PortalAbout2011_06_14_R069 Perf Guar for Fort Evans Plaza IIThe Town of
Leesburg,
Virginia
P:\Resolutions\Resolutions 2011 \0614 Ft Evans Plaza II -Rel PB Accept MB.doc
PRESENTED: June 14, 2011
RESOLUTION NO. 2011 -069 ADOPTED: June14, 2011
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR FORT EVANS PLAZA II
WHEREAS, Uniwest Group, LLC, the developer of Fort Evans Plaza II 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 the public improvements and
approving a maintenance guarantee for Fort Evans Plaza II.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Letter of Credit in the current amount of $499,200 from Wells Fargo Bank is
released, and acceptance of a Letter of Credit from United Bank for a maintenance guarantee in the
amount of $249,600 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 14 day of June, 2011.
C. mstattd, Mayor
Town of Leesburg