A Resolution to Approve an AMENDMENT TO THE AGREEMENT BETWEEN D.C. Diamond Corporation and the County to Provide for the Construction of Southcoate Village Drive

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, an amendment to the agreement is required in order to implement the proposed revised procedures for payment from the escrow fund; and

WHEREAS, the terms of the agreement are attached to the agenda request associated with this resolution; now, therefore, be it

RESOLVED by the Fauquier County Board of Supervisors this 9th day of October 2008, That the County Administrator be, and is hereby, authorized to execute the amended escrow  agreement attached to the agenda request for this item, subject to such modifications 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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