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WHEREAS, Ryan Homes has requested the Release of a Cash Bonds in the amount of $1,500.00 each pertaining to 35 Cranberry Court, a/k/a Block 66.09, Lot 2.12, and 65 Westlake Court, a/k/a Block 66.09, Lot 2.07, Jackson Township; and
WHEREAS, Ernest J. Peters, P.E., Township Engineer, CME Associates, has reviewed and approved the release of said cash bonds in a letter report dated August 14, 2002, which letter report is made a part hereof; 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 Cash Bonds in the amount of $1,500.00 each heretofore posted with the Township may and hereby are released to Ryan Homes. The Mayor and Township Clerk are authorized to sign or issue any appropriate documentation to give effect to the within resolution.
DATED: 08/26/02
ANN MARIE EDEN, R.M.C. TOWNSHIP CLERK
RESOLUTION 425R-02
TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY AMENDING RESOLUTION 285R-01, AUTHORIZING RELEASE TO M. RIEDER COMPANY OF THE PERFORMANCE GUARANTEE ISSUED FOR BLOCK 126.11, LOTS 30, 31 AND 36.20
WHEREAS, M. Rieder Company previously requested a Release of the Performance Guarantee in the amount of $321,971.79 and the Cash Bond in the amount of $35,774.65 pertaining to Block 126.11, Lots 30, 31 and 36.20, Jackson Township; and
WHEREAS, Gregory R. Valesi, P.E., Township Engineer, CME Associates, reviewed and approved the release of said Performance Bond and Cash Bond in a letter report dated June 4, 2001 based on the condition of posting a $10,000.00 cash bond to cover outstanding landscaping items as well as Maintenance Guarantee in the amount of $178,873.22 (15% of the original estimate) running for a period of two (2) years, which letter report is made part hereof; and
WHEREAS, the Township Committee of the Township of Jackson considered the application and the report of the Engineer and authorized the release based on these conditions by way of resolution 285R-01;
WHEREAS, M. Reider Company subsequently posted said maintenance bond #UB0265797 issued by Universal Bonding Insurance Co. in the amount of $178,873.22, which was accepted by the Township and has completed the outstanding landscaping items in lieu of posting the $10,000.00 cash bond for these items and has requested a Release of the Performance Guarantee and Cash Bond; and
WHEREAS, Ernest J. Peters, Jr. P.E., Township Engineer, CME Associates, reviewed and approved the release of said Performance Bond in the amount of $321,971.79 and Cash Bond in the amount of $35,774.65 in a letter report dated August 13, 2002 waiving the separate $10,000.00 cash landscaping bond due to the fact that all outstanding landscape items have been satisfied;