Resolution #16-37: Resolution Authorizing the Release of Performance Bond HGNE-NE-10-226-0032 as Posted by Mountain Creek Resort, Inc. (Herein Referred to as “MCRI”) Related to Improvements for the Mountain Creek Urgent Care Facility Located at 123 Route 94, Block 231 Lot 12 in the Township of Vernon, and Further Accepting Maintenance Bond HGNE-NE-10-226-0031m in the Amount of $5,661.90 from MCRI
Date of Adoption: September 15, 2016
WHEREAS, Mountain Creek Resort, Inc., 50 Sugar Maple Lane, Hamburg, New Jersey, posted Performance Bond HGNE-NE-10-226-0032 in the amount of $37,746.00 to guarantee proper construction and installation of certain improvements associated with the construction of the Mountain Creek Urgent Care Facility at 123 Route 94, Block 231, Lot 12 (“Property”) in the Township of Vernon (“Township”), Sussex County, New Jersey; and
WHEREAS, following final construction and installation of improvements, the authority engineer conducted a site inspection of the property and determined that said improvements were completed in accordance with the performance guarantee and are satisfactory; and
WHEREAS, in accordance to N.J.S.A. 40:55D-53, a resolution authorizing release of the performance bond is required by the board of commissioners; and
WHEREAS, based upon the foregoing, the authority engineer recommends release of Performance Bond HGNE-NE-10-226-0032 in the full amount of $37,746.00; and
WHEREAS, as a condition of release, the authority engineer further recommends that the township accept Maintenance Bond HGNE-NE-10-226-0031M in the amount of $5,661.90 to assure proper post-construction maintenance as required by Section 3.8 E of the Vernon Township Municipal Utilities Authority Rules and Regulations entitled “Insurance Requirement, Performance and Maintenance Guarantees.”
NOW BE IT RESOLVED, by the board of commissioners of the Vernon Township Municipal Utilities Authority, in the County of Sussex and State of New Jersey as follows:
- The authority hereby approves the improvements for the Mountain Creek Urgent Care Facility located at 123 Route 94, Block 231, Lot 12 which have been determined to be complete and satisfactory by the utility authority engineer.
- The authority hereby releases Performance Bond HGNE-NE-10-226-0032 in its entirety to Mountain Creek Resort, Inc., 50 Sugar Maple Lane, Hamburg, New Jersey.
- The township hereby accepts Maintenance Bond HGNE-NE-10-226-0031M in the amount of $5,661.90 from Mountain Creek Resort, Inc., 50 Sugar Maple Lane, Hamburg, New Jersey which shall be for a period two (2) years from the date of adoption of this resolution.
- Any and all outstanding engineering, escrow and/or legal fees, if any, shall be paid in full.