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WHEREAS, Giant Food Stores, LLC has requested the release of the Performance Guarantees pertaining to Edwards Supermarket, a/k/a Block 75.01, Lot 1.04 & 1.05, Jackson Township; and
WHEREAS, Ernest J. Peters, CME Associates has reviewed and approved the release of the Performance Guarantees in a letter report dated June 29, 2004, which letter report is made a part hereof; and
WHEREAS, Ernest J. Peters, CME Associates, has recommended to waive a Maintenance Bond requirement since the site improvements were completed as part of another performance bond posted due to a change in ownership; and
WHEREAS, the Township Committee of the Township of Jackson has considered the application and the report of the Engineer,
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Committee of the Township of Jackson, County of Ocean and State of New Jersey, that the above-referenced performance bond are hereby released and the Maintenance Bond requirement is hereby waived. The Mayor and Township Clerk are authorized to sign or issue any appropriate documentation to give effect to the within resolution.
Copies of this resolution to Administrator, Finance, Applicant/Developer, Township Engineer, and Janice Kisty, Planning and Zoning.
DATED: 07/12/04
RESOLUTION 356R-04
TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY AUTHORIZING RELEASE OF THE PERFORMANCE BOND POSTED BY LEESVILLE MANOR, LLC UPON THE POSTING AND ACCEPTANCE OF THE PERFORMANCE BOND BY ARCON DEVELOPMENT, LLC.
MOTION TO APPROVE BY: KAFTON MOTION SECONDED BY: BRODERICK YES: BRODERICK, KAFTON, REILLY, GRISANTI & GIBLIN
WHEREAS, Leesville Manor, LLC has requested the release of their performance bond posted in the form of a Letter of Credit issued by Wachovia Bank in the amount of $26,060.40 as well as the cash portion in the amount of $2,895.60 pertaining to a major subdivision on Leesville Road located on Block 85, Lot 13.03, Jackson Township due to a change in ownership; and
WHEREAS, the Township Attorney has reviewed and approved the Performance Bond #B12684648 issued by Gulf Insurance in the amount of $28,956.00 and the cash portion in the amount of $2,895.60 posted by Arcon Development, LLC in a letter dated July 1, 2004; and
WHEREAS, the Township Committee of the Township of Jackson has considered the application and the Township Attorney review letter,
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Committee of the Township of Jackson, County of Ocean and state of New Jersey, that the Letter of credit issued by Wachovia Bank in the amount of $26,060.40, as well as the cash posted in the amount of $2,895.60 heretofore posted by Leesville Manor, LLC with the Township may and hereby is released and the replacement Performance Bond