96-24 RESOLUTION Accepting Public Improvements Colonial Woods.pdf

96-24 March 24, 2024 RESOLUTION 1 The Township records reflect inspection escrow remaining in the amount of $3,725. Hundred Dollars ($4,100.00) which the Township does not agree with and has requested back up for which is pending1, NOW THEREFORE BE IT RESOLVED by the Township Council of the Township of West Orange, in the County of Essex and State of New Jersey, as follows: 1. All the public improvements within the rights of way of Colonial Woods North and extension of Nance Road and public easements shown on the filed map entitled “FINAL PLAT-BLOCK 173, LOT 2 AND BLOCK 172.29, LOT 40.02, COLONIAL WOODS NORTH, TOWNSHIP OF WEST ORANGE, ESSEX COUNTY, NEW JERSEY” and filed in the office of the Clerk of Essex County on July 30, 2007 as Filed Map No. 4518 are hereby accepted by the Township of West Orange. 2. The Maintenance Bond in the amount of $117,964.44 shall continue to be held as the cash Maintenance Bond for the two year period commencing on December 6, 2023 and ending as of December 5, 2025. This Resolution and return of funds is specifically contingent upon a review of the Developer’s Agreement and related plans. 3. The amount of $23,275.00 shall be deducted from the cash bond currently held by the Township and shall be used for the sole purpose of planting trees. RNC shall no longer have any rights or claims as to these funds. 4. The remaining balance of $37,380.56 shall be released to RNC Developers, Inc. within ten (10) days. Within three (3) business days after RNC’s receipt of the $37,380.56, RNC’s attorneys, The Turteltaub Law Firm LLC shall file a Stipulation of Dismissal with Prejudice and without costs concerning the pending action Docket No. ESX-L-