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WHEREAS, 528, LLC has requested the release Performance Guarantees posted for Liberty Commons, Block 21202, Lots 6.01 & 7, Jackson Township; and
WHEREAS, the Performance Guarantee consists of $10,116.36 in the form of a New Jersey Subdivision/ Site Plan Bond B1206438 issued by Selective Insurance Company of America and a Cash Bond in the amount of $1,124.00; and
WHEREAS, Stephen Schreiber of T&M Associates, Township Engineer, has reviewed and approved the release of said Performance Guarantees in report dated June 22, 2021, which 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 Township Council of the Township of Jackson, County of Ocean and State of New Jersey, that the New Jersey Subdivision/ Site Plan Bond B1206438 issued by Selective Insurance Company of America and a Cash Bond in the amount of $1,124.00, heretofore posted with the Township may and hereby is released on the condition that the applicant:
Post a Maintenance Bond with the Township in the amount of $1,405.05 subject to the review and approval of the Township Attorney. Said Maintenance Bond shall run for a period of two (2) years.
This resolution of release is further contingent upon the applicant/developer reimbursing 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. The Mayor and Township Clerk are authorized to sign or issue any appropriate documentation to give effect to the within resolution.
DATED: 8-10-2021
RESOLUTION 316R-21
MOTION TO APPROVE BY: BORRELLI
MOTION SECONDED BY: SAUICKIE
YES: BORRELLI, SAUICKIE, FLEMMING, KERN
ABSTAIN: CHISHOLM
WHEREAS, there exists a need for professional engineering services related to Turf Field renovations in the Township of Jackson; and