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NO ONE CAME FORWARD.
MOTION TO CLOSE PUBLIC COMMENT, RESOLUTIONS ONLY BY: FLEMMING MOTION SECONDED BY: SAUICKIE
YES: BORRELLI, SAUICKIE, FLEMMING, KERN
ABSENT: CHISHOLM
MOTION TO APPROVE BY: FLEMMING MOTION SECONDED BY: BORRELLI YES: BORRELLI, SAUICKIE, FLEMMING, KERN ABSENT: CHISHOLM
WHEREAS, Jackson 1426, LLC has requested the release of Performance Guarantees consisting of Performance Surety Bond No. 621-100894-5 in the amount of $117,714.60 issued by United States Fire Insurance Company and Cash Bond portion in the amount of $13,079.40; and
WHEREAS, GM Highview Apartments, LLC submitted a replacement Performance Guarantee by way of Performance Surety Bond No. S322690 in the amount of $117,714.60 and a Cash Bond in the amount of $13,079.40; 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 Guarantees posted by Jackson 1426, LLC consisting of Performance Surety Bond No. 621-100894-5 in the amount of $117,714.60 issued by United States Fire Insurance Company, and a Cash Bond portion in the amount of $13,079.40 for Block 1203 Lot 29 may and are hereby released due to the posting of a replacement Performance Guarantee and Cash Bond portion by GM Highview Apartments, LC.
The Mayor and Township Clerk are authorized to sign or issue any appropriate documentation to give effect to the within Resolution.
That upon the adoption of this Resolution, the Clerk is authorized and directed to forward a certified copy of it to the Developers, Township Engineer, Township Attorney and the Chief Financial Officer.
DATED: 9-28-2021
RESOLUTION 358R-21
TITLE: AUTHORIZE TRANSFER OF SAFETY & STABILIZATION
GUARANTEES POSTED BY JACKSON STORAGE OF NEW JERSEY, DUE TO A CONTRACT OF SALE AGREEMENT AT TIME OF CLOSING, TO LIFE STORAGE, LP, FOR BLOCK 4801, LOTS 22 (400 N. COUNTY LINE ROAD)
MOTION TO APPROVE BY: SAUICKIE
MOTION SECONDED BY: FLEMMING
YES: BORRELLI, SAUICKIE, FLEMMING, KERN
ABSENT: CHISHOLM