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Said license is issued for a period commencing April 1, 2015 and terminating on March 31, 2017.
Said license is issued subject to the applicant’s continued compliance with conditions and requirements as follows:
Payment of all outstanding fees and taxes.
The applicant retaining the required insurance in accordance with Chapter 185.
The applicant retaining the required bonding in accordance with Chapter 185.
The applicant adheres to all guidelines/requirements as set forth in Chapter 244, Section 79 (F).
The applicant obtaining all other local, County and State permits.
That upon the adoption of this resolution, the Clerk is authorized and directed to forward a certified copy of it to Clayton Sand Company.
ANN MARIE EDEN, R.M.C.
TOWNSHIP CLERK
DATED: 1-19-16
TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY AUTHORIZING REDUCTION TO THE PERFORMANCE GUARANTEE POSTED BY LENNAR FOR THE RESERVE AT PLEASANT GROVE, PHASE III LOCATED ON BLOCK 11901, LOTS 5-8, 37
MOTION TO APPROVE BY: CALOGERO
MOTION SECONDED BY: BRESSI
YES: CALOGERO, MARTIN, UPDEGRAVE, BRESSI, NIXON
WHEREAS, Lennar has requested a reduction of the Performance Guarantee posted for The Reserve at Pleasant Grove, Phase III located on Block 11901, Lots 5-8, 37, Jackson Township; and
WHEREAS, the Performance Guarantee consists of $420,137.82 in the form of a Performance Bond #72BSBGZ8705 issued by Hartford Fire Insurance Company and a Cash Bond in the amount of $46,682.00.
WHEREAS, the developer has requested that the bond be reduced; and
WHEREAS, Michael Miller, Township Engineer, T&M Associates, has reviewed and approved the reduction of the Performance Guarantee in letter report dated December 18, 2015 in the following amount:
Reduction of the Performance Bond to not less than $245,032.83
Reduction of the Cash Bond to not less than $27,225.87
WHEREAS, the Township Council of the Township of Jackson has considered the application and the report of the Township’s Engineer; and
NOW, THEREFORE, BE IT RESOLVED, by the Township Council of the Township of Jackson, County of Ocean and State of New Jersey, that the Performance Bond is hereby reduced from $420,137.82 to not less than $245,032.83 and the Cash Bond from $46,682.00 to not less than $27,225.87
The Mayor and Township Clerk are authorized to sign or issue any appropriate documentation to give effect to the within resolution.