HomeMy Public PortalAbout2016_09_13_R015 Perf Guar for Oaklawn Landbay B The Town of
Leesburg,
Virginia]�n](a PRESENTED: September 13, 2016
RESOLUTION NO. 2016-015 ADOPTED: September 13, 2016
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINENANCE
GUARANTEE FOR OAKLAWN LANDBAY B (TLPF-2014-0024)
WHEREAS, TC Oaklawn Owner, LLC, the developer of Oaklawn Landbay B 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 recommends accepting the
public improvements and approving the maintenance guarantee for Oaklawn Landbay B.
THEREFORE RESOLVED, by the Council of the Town of Leesburg in Virginia that: -
SECTION 1. The corporate surety bond in the current amount of$1,264,000 from Berkley
Insurance Company is released and acceptance of a corporate surety bond from Berkley Insurance
Company for a maintenance guarantee in the amount of$63,200 is approved and shall be in effect
for the 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 13t1i day of September,2016.
PaAj, Po
David S. Butler, Mayor
Town of Leesburg
•'T PEST,
.i.
Clerk of Coin"
P:\Resolutions\2016\0913 Oaklawn Landbay B-Release PB Accept MB.docx