Resolution #16-07: Resolution Establishing an Agreement with Black Creek Association for Payment of Back Sewer Charges Owed

Date of Adoption: January 21, 2016

Agreement

THIS AGREEMENT made on the 21st day of January, 2016, by and between BLACK CREEK SANCTUARY CONDOMINIUM ASSOCIATION, INC. (“Black Creek”) and THE VERNON TOWNSHIP MUNICIPAL UTILITIES AUTHORITY (“VTMUA”), with an address of 21 Church Street, Vernon, New Jersey, 07462.

Witnesseth

WHEREAS, Black Creek is a user of the VTMUA sewer system; and

WHEREAS, Black Creek has an account balance of $13,050.00 due and owing to VTMUA; and

WHEREAS, Black Creek desires to pay the arrearages and become current; and

WHEREAS, VTMUA is desirous of permitting Black Creek to pay the account balance, plus simple interest of 1.5% over an 18 month period.

NOW, THEREFORE, for good and valuable consideration, and intending to be lawfully bound, the parties hereby agree as follows:

  1. The parties acknowledge that the amount due and owing to VTMUA from Black Creek totals $13,245.75, comprised of an account balance of $13,050.00 plus simple interest of 1.5%.
  2. Black Creek shall be permitted to pay the account balance in eighteen (18) monthly installments of $735.87.
  3. In the event Black Creek fails to pay the aforementioned account balance, the amount due and owing shall constitute a lien on the property in accordance with applicable law.
  4. All payments contemplated hereunder shall be sent to the attention of the executive director at VTMUA at the address listed above and shall be due within the first five (5) days of each calendar month.

IN WITNESS WHEREOF the parties have executed this agreement on the date written at the top of the first page.