HomeMy Public PortalAbout2011_08_30_R104 Perf Guar Rivercreek Phase IX Sect1 LandbayKThe Town of
Leesburg,
Virginia
RESOLUTION NO. 2011 -104 ADOPTED: August 30, 2011
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR RIVERCREEK -PHASE IX, SECTION 1, LANDBAY "K"
WHEREAS, River Creek L.L.C., the developer of Rivercreek -Phase IX, Section 1, Landbay
"K" 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 Rivercreek -Phase IX, Section 1, Landbay "K
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 $360,280.10 from Hartford
Fire Insurance Company is released, and acceptance of a Corporate Surety Bond from Hartford Fire
Insurance Company for a maintenance guarantee in the amount of $18,014.00 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 30 day of August, 2011.
Clerk of Cou
P: \Resolutions\Resolutions 2011 \0830 Rivercreek PH IX, SEC 1, LB K -Rel PB Accept MB.doc
Town of Leesburg
PRESENTED: August 30, 2011