HomeMy Public PortalAbout2012_08_28_R099 Perf Guar for PMW Farms Ft Evans to Riverside PkwyThe Town of
Leesburg,
Virginia
RESOLUTION NO. 2012 -099
PRESENTED
ADOPTED:
August 28, 2012
August 28, 2012
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE FOR PMW FARMS, FORT EVANS ROAD PHASE 2 AND
RIVERSIDE PARKWAY
WHEREAS, GTIS -HOV Festival Lakes, LLC, the developer of PMW Farms, Fort Evans Road
Phase 2 and Riverside Parkway has requested approval of a corporate surety bond from Lexon
Insurance Company in the amount of $574,000 to guarantee the public improvements; and
WHEREAS, the Director of Public Works recommends approval of a contract for installation
of public improvements and acceptance of a performance guarantee for PMW Farms, Fort Evans Road
Phase 2 and Riverside Parkway.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Manager shall execute the contract for public improvements for the
improvements shown on the plans to be approved by the Director of Plan Review for PMW Farms,
Fort Evans Road Phase 2 and Riverside Parkway.
SECTION II. A corporate surety bond from Lexon Insurance Company in the amount of
$574,000 is approved as security to guarantee installation of the public improvements shown on plans
to be approved by the Director of Plan Review for PMW Farms, Fort Evans Road Phase 2 and
Riverside Parkway.
PASSED this 28th day of August, 2012.
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Town of Leesburg
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Clerk of Cou c'
PAResolutions\2012 \0828 PMW Farms -Ft Evans Rd PH 2- Riverside Pkwy NEW P Bond.doc