HomeMy Public PortalAbout2013_06_11_R067 Perf. Guarantees for Oaklawn TH Sec. 3 The Town of
Leesburg,
Virginia
PRESENTED: June 11, 2013
RESOLUTION NO. 2013-067 ADOPTED: June 11, 2013
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR OAKLAWN TOWNHOUSES — SECTION 3 (TLCD-
2010-0001)
WHEREAS, Pulte Home Corporation, the developer of Oaklawn Townhouses— Section 3 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 Oaklawn Townhouses Section 3.
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$2,401,000 from Bond
Safeguard Insurance Company is released, and acceptance of a corporate surety bond from Liberty
Mutual Insurance Company for a maintenance guarantee in the amount of$120,050 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 11th day of June, 2013.
1111111Airtrui"" 11111
r C. stattd, Mayor
Town of Leesburg
ATT S
rs
Clerk of Co
P:\Resolutions\2013\0611 Oaklawn TH SEC III-ReI PB Acpt MB.doc