HomeMy Public PortalAbout2015_07_28_R084 Perf Guar for PMW Farms Ft Evans Rd Ph 2 and Riverside Pkwy The Town of
Leesburg,
Virginia
PRESENTED: July 28, 2015
RESOLUTION NO. 2015-084 ADOPTED: July 28, 2015
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PMW FARMS FORT EVANS ROAD PHASE 2 AND
RIVERSIDE PARKWAY(TLPF-2009-0019)
WHEREAS, GTIS-HOV Festival Lakes, LLC, the developer of PMW Farms PMW Farms
Fort Evans Road Phase 2 and Riverside Parkway 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 and Capital Projects and the Assistant Town
Manager recommend accepting the public improvements and approving a maintenance guarantee
for PMW Farms 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 corporate surety bond in the current amount of$574,000 from Lexon
Insurance Company is released and acceptance of a corporate surety bond from Lexon Insurance
Company for a maintenance guarantee in the amount of$28,700 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 28th day of July, 2015.
'i C. mstattd,Mayor
Town of Leesburg
►♦ ' . ! ,.. _-
Clerk of Cou
P:\Resolutions\2015\O 28 Perf Guar for PMW Farms Ft Evans Rd Ph2 and Riverside Pkwy.doc