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• 4. Copies of this resolution to Municipal Administrator, Zoning Board of Adjustment, appointee and any other interested parties.

DATED: 07/12/04

ANN MARIE EDEN, R.M.C. TOWNSHIP CLERK

RESOLUTION 360R-04

TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY AUTHORIZING THE COMMENCEMENT OF DRAW DOWN PROCEEDINGS AGAINST PERFORMANCE BOND/LETTER OF CREDIT POSTED BY DESIGN CONCEPTS FOR LIVING, LLC FOR PROPERTY KNOWN AS GEORGETOWNE AT BENNETTS MILLS – BLOCK 144.01, LOTS 6, 18.03 AND 18.06

MOTION TO APPROVE BY: KAFTON MOTION SECONDED BY: BRODERICK YES: BRODERICK, KAFTON, REILLY, GRISANTI & GIBLIN

WHEREAS, Design Concepts for Living, LLC posted a Preliminary Performance Bond #S03975 issued by First Indemnity of America Insurance Company, dated May 16, 1997 in the amount of $28,620 and cash portion in the amount of $3,180.00; and

WHEREAS, Design Concepts for Living, LLC also posted a Letter of Credit #606 issued by Independence Community Bank (formerly First State Bank), dated April 20, 1998 in the amount of $38,907.00 and cash portion in the amount of $4,323.00, to guarantee the completion of improvements to the Georgetowne at Bennetts Mills subdivision; and

WHEREAS, Ernest J. Peters, Jr., P.E., Township Engineer, has reported by letter dated March 31, 2004 that such improvements have not been completed despite numerous requests; and

WHEREAS, the Township Engineer has recommended that the Performance Bond and Letter of Credit be used to complete the bonded improvements by public contract administered by the Township; and

WHEREAS, the Township Committee desires to act upon the recommendation of the Township Engineer;

NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Committee of the Township of Jackson, County of Ocean and State of New Jersey, as follows:

1. The Township Attorney and Township Engineer are authorized to take all action necessary to drawn down on the Performance Bond issued by First Indemnity of America Insurance Company and Letter of Credit issued by Independence Community Bank (formerly First State Bank) in an amount sufficient to complete the outstanding bonded improvements by public contract administered by the Township at the Georgetowne at Bennetts Mills subdivision.
2. A certified copy of this Resolution shall be provided to Design Concepts for Living, LLC, First Indemnity of America Insurance Company, Independence Community Bank, Township Administrator, Township Engineer, Chief Financial Officer and any other interested parties.

DATED: 07/12/04

ANN MARIE EDEN, R.M.C. TOWNSHIP CLERK

DISCUSSION AGENDA:

RE: SCHOOL BEAUTIFICATION PROJECT

COMMITTEEMAN BRODERICK: Members from the Jackson Township Rotary Club, School Board and the Shade Tree Commission have volunteered to do a school beautification project along with 100 students and their parents. This year they will start