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MOTION SECONDED BY: GRISANTI YES: GIBLIN, GRISANTI, KAFTON, KRAKOWER & BRODERICK

WHEREAS, official Minutes of Jackson Township Committee meetings have been prepared; and

WHEREAS, the Township Clerk has reviewed these Minutes and has submitted them to the Township Committee for their approval;

NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Township Committee of the Township of Jackson, County of Ocean, that:

  1. 1. The following Minutes are hereby approved by the Jackson Township Committee:

AUGUST 12, 2002

  1. 2. Copies of this resolution to any interested parties.

DATED: 09/09/02

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

RESOLUTION 445-02

TITLE: RESOLUTION OF THE TOWNSHIP OF JACKSON, OCEAN COUNTY, NEW JERSEY APPROVING MORTGAGE SUBORDINATION FOR BOJANA B. HURLEY FOR PROPERTY LOCATED AT 14 NEW JERSEY AVENUE AND DESIGNATED AS LOT 14, BLOCK 126.41 ON THE TAX MAP OF JACKSON TOWNSHIP

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

WHEREAS, Bojana B. Hurley is the owner of property located at 14 New Jersey Avenue and designated as Lot 14, Block 126.41 on the Tax Map of Jackson Township; and

WHEREAS, the property is encumbered by a first mortgage held by Long Beach Mortgage Company in the initial principal amount of $148,000.00; and

WHEREAS, the Township of Jackson holds a mortgage on the property in the amount of $11,250.00; and

WHEREAS, Bojana B. Hurley has received a mortgage commitment from Washington Mutual Home Loans, Inc. in the principal amount of $155,000.00; and

WHEREAS, the new loan will be used to pay off the existing mortgage held by Long Beach Mortgage Company on the property, leaving Washington Mutual Home Loans, Inc. holding a first mortgage in the amount of $155,000.00; and