The following Minutes are hereby approved by the Jackson Township Council:

September 25, 2007 and October 9, 2007

Copies of this resolution to any interested parties.

DATED: 11/08/07

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

RESOLUTION 472R-07

TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY, AUTHORIZING RELEASE TO INVESTORS SAVINGS BANK, OF THE MAINTENANCE BOND ISSUED FOR INVESTORS SAVINGS BANK, A/K/A BLOCK 135.01, LOT 27

MOTION TO APPROVE BY: STALLONE MOTION SECONDED BY: INGRAM YES: INGRAM, MARTIN, STALLONE & GUDAITIS ABSENT: UPDEGRAVE

WHEREAS, Investors Savings Bank, has requested a Release of their Maintenance Guarantee, which consists of a cash bond in the amount of $32,687.85, pertaining to Investors Savings Bank, a/k/a Block 135.01, Lot 27, Jackson Township; and

WHEREAS, Michael G. Miller of T&M Associates, Township Engineer, has reviewed and approved the release of said maintenance bond in letter report dated October 23, 2007, which letter report is made a part hereof; and

WHEREAS, the Township Council of the Township of Jackson has considered the application and the report of the Engineer;

NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of the Township of Jackson, County of Ocean and State of New Jersey, that the Maintenance Guarantee, which consists of a cash bond in the amount of $32,687.85, heretofore posted with the Township hereby is released on the condition that:

The applicant/developer reimburse the Township for the cost of any and all outstanding construction inspection fees and the cost of any and all other charges as per Township ordinance for the release of said maintenance guarantees

Copies of this resolution to Administration, Finance, Applicant/Developer and Township Engineer.