Conference/Public Meeting Agendas/Documents — Packet

176-12 STIPULATION OF SETTLEMENT The Parties This Stipulation of Settlement (hereinafter referred to as the “Settlement”) is made on this _____ day of September 2012 between ConQuest Industries, LLC (“ConQuest”), having an address at 32 Woodland Avenue, Westwood, New Jersey 07675, and the Township of West Orange (the “Township”), a Municipal Corporation of the State of New Jersey having its principal location at 66 Main Street, West Orange, New Jersey 07052 (collectively, the “Parties”); and whereas, in furtherance of the Settlement, the Parties hereby represent, warrant, state and agree: Witnesseth WHEREAS, pursuant to a public bidding process the Parties entered into an agreement , called the Downtown West Orange Streetscape and Traffic Improvement Program, for certain construction work to be timely completed by ConQuest for and within the Township (the “Agreement”); and WHEREAS, ConQuest agreed that it would, among other things, replace traffic signals, perform electrical work, reconstruct sidewalks, replace curbing, improve drainage and install landscaping and site amenities (the “Work”) within the downtown area of the Township; and WHEREAS, on April 11, 2011, ConQuest was given a “Notice to Proceed” date of May 2, 2011 with respect to the Work, and the Agreement contemplated a completion date of October 29, 2011; and WHEREAS, as of the date of this Settlement, ConQuest has not fully and finally completed the Work; and WHEREAS, the Township asserts that the delays in completing the Work have caused the Township damages including additional engineering and police costs; and WHEREAS, the Parties have agreed to amicably resolve various claims that have arisen in connection with the Agreement and the Work without the need for litigation, and desire and intend to memorialize the release and resolution of those Claims by execution of this Settlement; and NOW, THEREFORE, in consideration of the mutual benefits conferred in this Settlement, the premises of this Settlement, the consideration provided for herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to the terms and conditions herein contained, the Parties

tion provided for herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to the terms and conditions herein contained, the Parties agree as follows: 1. Settlement Amount. The Parties agree that ConQuest shall pay to the Township a total of Sixty-Thousand ($60,000) Dollars (the “Settlement Amount”), in consideration of the releases and other terms and conditions as set forth in this Agreement. The Settlement Amount shall be paid no later than September 30, 2012. All monies shall be remitted to the Township c/o John Gross, Chief Financial Officer, Municipal Building, 66 Main Street, West Orange, New Jersey 07052. The Township shall be authorized to issue joint checks payable to the Township for the Settlement Amount with regard to any monies due ConQuest under the Agreement or for the Work. To the fullest extent necessary, the Township 1