WHEREAS, a Maintenance Guarantee was heretofore posted with the Township by Hope Hill Developers, LLC, in the form of Bond #S292285-M, issued by NGM Insurance Company on August 13, 2019 in the amount of $66,250.00 in connection with SD #1644, Block 11, Lots 87-89, 91-93, 95 & 96

            WHEREAS, under date of December 21, 2021, the Township Engineer did recommend a release of the Maintenance Guarantee aforesaid; and

            WHEREAS, the Township Committee has reviewed the recommendation aforesaid and finds the same to be acceptable.

            NOW, THEREFORE, BE IT RESOLVED, by the Township Committee of the Township of Lakewood, County of Ocean, State of New Jersey, as follows:

1.                That the above referenced Maintenance Guarantee and any excess                                                           escrow be and hereby is released.

2.                The release of the Maintenance Guarantee is subject to verification that all outstanding engineering inspection escrow charges are paid and the letter from the Ocean County Soil Conservation District is dated after or near the time of the Recommendation For Release of the Maintenance Guarantee and all applicable regulatory agencies do not object to the action.

            3.         The Applicant shall complete and return to the Township Engineer the                                         appropriate form authorizing return of the unused escrow monies once all                                                 fees for professional services are paid.

4.            That the Township Clerk shall forward a certified copy of this Resolution to       the following:

                                                A.        Township Engineer;

                                                B.         Chief Financial Officer

                                                C.         Hope Hill Developers, LLC