HomeMy Public PortalAbout2012_03_27_R037 Release of Perf Guar - Wegmans Food Market (TLPF 2006-0009)The Town of
Leesburg,
Virginia
PRESENTED: March 27, 2012
RESOLUTION NO. 2012 -037 ADOPTED: March 27, 2012
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR VILLAGE AT LEESBURG — WEGMAN'S FOOD
MARKET (TLPF- 2006 -0009)
WHEREAS, Carlyle /Cypress Leesburg I, LLC, the developer of Village at Leesburg —
Wegman's Food Market 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 Village at Leesburg — Wegman's Food Market.
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 $480,000 from Farmington
Casualty Company is released, and acceptance of a corporate surety bond from Farmington Casualty
Company for a maintenance guarantee in the amount of $240,000 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 27th day of March, 2012.
Kristen C. Umstattd, Mayor
Town of Leesburg
ATTEST:
Clerk of C`' un it
P:\Resolutions\2012 \0327 Village at Leesburg Wegmans Food Market -Rel PB Acpt MB.doc