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RESOLUTION 352R-16

TITLE: AUTHORIZING THE RELEASE AND EXTINGUISHMENT OF THE REVERSION CLAUSE PURSUANT TO N.J.S.A. 40:60-51.2 IN THAT CERTAIN DEED DATED FEBRUARY 25, 1986 BETWEEN JACKSON TOWNSHIP AND THE JACKSON TOWNSHIP FIRST AID SQUAD INC.

MOTION TO APPROVE BY: BRESSI MOTION SECONDED BY: MARTIN YES: CALOGERO, MARTIN, UPDEGRAVE, BRESSI, NIXON

WHEREAS, Pursuant to a recorded Deed dated February 25, 1986, Jackson Township conveyed that certain parcel(s) of property known as Block 6506 Lot 78, 79, 80, 81, 82, 39, 40, 41, 42 to the Jackson Township First Aid Squad. (Previously known as Block 121.11 Lots 38, 39, 40, 41, 42, 43, 44, 46, 47); and

WHEREAS, said Deed was subject to a reversionary clause which indicated: This Deed is made on the condition that said land and the buildings that shall be constructed are only for the purposes of the Jackson Township. First Aid Squad, Inc. and not for commercial business or manufacture, and that if said lands or buildings are not used in accordance with said limitation, title thereto shall revert to the Township of Jackson without any entry or re-entry made thereon on behalf of such Township of Jackson; and

WHEREAS, the Township takes the within action at a public hearing and the Township has published or caused to be published (twice) notice of such hearing pursuant to N.J.S.A. 40:60-51.2; and

WHEREAS, the Township has reviewed the reversionary clause and does hereby agree to remove, release and extinguish this reversionary clause pursuant to N.J.S.A. 40:60-51.2. from all lots and blocks identified in the Deed dated February 25, 1986; and

WHEREAS, the Township finds that such release and removal is in the best interest of Jackson Township and does not and will not interfere with or impair the vested or contractual rights of any party.

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

1. That pursuant to N.J.S.A. 40:60-51.2. the Township does hereby remove, release and extinguish any and all reversionary language as to all lots identified in that certain Deed dated February 25, 1986 between Jackson Township and the Jackson Township First Aid Squad.
2. That the Mayor is hereby authorized to execute the Deed of Extinguishment attached to this Resolution and which Deed shall then be duly recorded. And that the Mayor shall be further authorized to sign any other document necessary and appropriate to carry out the actions herein.
3. That this resolution shall become effective immediately.
4. That upon adoption of the within Resolution, the Clerk is authorized and directed to forward a certified copy of it to Jackson Township First Aid, Tax Collector, Tax Assessor and any other interested parties.

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

DATED: 11-29-16

Township Clerk Eden stated Resolutions 369R-16 & 370R-16 will be removed from this evening's agenda and placed on the 12/13/16 agenda for Council's consideration.