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doc10483 R-122-2025-Release-perf-Guarantee-_Rutherford-Estates-PDF.pdf
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"text": "AUTHORIZING THE RELEASE OF PERFORMANCE GUARANTEES POSTED BY RUTHERFORD ESTATES LLC (BLOCK 11701, LOTS 9, 25, 26 & 33)",
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"text": "WHEREAS, the Township of Jackson required the posting of a Performance Guarantee by Rutherford Estates LLC, for a project comprising work on Block 11701, Lots 9, 25, 26 & 33 on the Tax Map of the Township of Jackson; and"
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"text": "WHEREAS, Rutherford Estates LLC posted said Performance Guarantee in the amount of $484,044.00, consisting of a bond in the amount of $435,639.60 and a cash portion of $8,404.40 prior to the initiation of preliminary site work for the project; and"
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"text": "WHEREAS, Rutherford Estates LLC has indicated that it will be pursuing a new approval for the site and has requested a release of the performance guarantee; and"
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"text": "WHEREAS, Rutherford Estates LLC has provided the Township Engineer and Township Attorney with a written statement acknowledging that no further work may be done on site without either a new performance bond being obtained for the current project or a revised performance bond being provided in association with a new approved project; and"
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"text": "That the governing body does hereby authorize the release of the Performance Guarantee posted by Rutherford Estates LLC for the project at Block 11701, Lots 9, 25, 26 & 33 on the Tax Map of the Township of Jackson, in the amount of $484,044.00, consisting of a bond in the amount of $435,639.60 and a cash portion of $8,404.40",
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