RESOLUTION

A Resolution to Approve an AMENDMENT TO THE AGREEMENT BETWEEN D.C. Diamond Corporation and the County to Provide for the USE OF FUNDS FOR the CONSTRUCTION OF CALLIE JO COURT INTERPARCEL CONNECTION

WHEREAS, on August 10, 2006, the Board of Supervisors authorized the execution of an agreement between Fauquier County and D.C. Diamond Corporation to insure the completion of Southcoate Village Drive in a timely manner; and

WHEREAS, the County is now in possession of the majority of the funds provided for by the agreement; and

WHEREAS, the County and D.C. Diamond have agreed that the County is adequately secured by the funds provided, surety in place and amended procedures for payment from the escrow fund established by the 2006 agreement; and

WHEREAS, D.C. Diamond has requested the use of a portion of the escrow account to permit the completion of an inter-parcel connection at Callie Jo Court and completion of other improvements at Southcoate Village requested of the residents in order to complete the subdivision improvements; and

WHEREAS, the use of the funds for this purpose is consistent with the overall efforts to complete Southcoate Village and will not reduce the ability to complete Southcoate Village Drive, which is covered by a separate surety agreement in addition to the escrow funds; now, therefore, be it

RESOLVED by the Fauquier County Board of Supervisors this 14th day of May 2009, That the County Administrator be, and is hereby, authorized to execute an amendment to the existing escrow agreement to permit the use of up to $80,000 of the escrow to complete the inter-parcel connection at Callie Jo Court, subject to such terms and conditions as may be deemed advisable by the County Administrator and County Attorney.

                                                                       

                                                                                    A Copy Teste

 

                                                                                    Paul S. McCulla

                                                                                    Clerk to the Board of Supervisors

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