06129
RESOLUTION
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Title:
Developers Agreement Release of Performance Guaranty, Block 1306, Lot 1 &
11,
16 Broadway
WHEREAS, Hasbrouck Heights Inc., KFC
Restaurant has entered into a Developers Agreement with the Borough of
Hillsdale; and
WHEREAS, the Borough Engineers
office has conducted final inspections and recommends the release of the
performance guarantee with the receipt of a two year maintenance guarantee; and
WHEREAS, Hasbrouck Heights Inc., KFC
Restaurant is required to deposit a two year maintenance guarantee not to
exceed 15% of the cost of the original improvements or $45,565.00; and
NOW, THEREFORE, BE IT
RESOLVED, that
the Mayor and Council of the Borough of Hillsdale authorize the release of the
performance guarantee of $91,129.50, plus accrued interest, with the receipt of
the required two year maintenance guarantee.
Council member |
Motion
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Second
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Yes |
No |
Absent
|
Abstain
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Arnowitz, Max |
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Prospero,
Frank |
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Rush,
Ken |
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Sapanara,
John |
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Schiavone,
Donna |
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Weinstein,
Andrew |
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Adopted: December 12, 2006
Attest: ________________________ ____________________________________
Robert P. Sandt, RMC Mayor Dennis S. Deutsch
Municipal Clerk