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Resolution of the Mayor and Council of Princeton Authorizing Release of a Performance Guarantee in the Amount of $65,856.00 to RPM Contracting, LLC for the 900 Herrontown Road Major Site Plan Development, Block 901 Lot 21, Zone S-2
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WHEREAS, RPM Contracting LLC has made a formal request for release of the performance guarantee currently held by the Municipality of Princeton for public improvements in conjunction with the project known as the 900 Herrontown Road Major Site Plan Development, Block 901 Lot 21, Zone S-2; and
WHEREAS, the Land Use Engineer has determined that the project is complete; and
WHEREAS, the Land Use Engineer recommends that the request for release of the performance guarantee in the amount of $65,856.00, plus accrued interest, if any, covering the public improvements in conjunction with the project known as 900 Herrontown Road Major Site Plan Development, Block 901 Lot 21, Zone S-2be approved and that, upon receipt of a maintenance guarantee in the amount of $ $8,232.00, the performance guarantee be released; and
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of Princeton that the request for release of the performance guarantee in the amount of $65,856.00, plus accrued interest, if any, covering the public and private improvements in conjunction with the project known as 900 Herrontown Road Major Site Plan Development, Block 901 Lot 21, Zone S-2, is approved and the release of the performance guarantee and any accrued interest is authorized.