WHEREAS, the Township Committee of the Township of Lakewood, County of Ocean, State of New Jersey in accordance with a Settlement Agreement with Highpoint at Lakewood Condominium Association, Inc. (hereinafter “Highpoint”) entered into in the matter of Highpoint at Lakewood Condominium Ass’n, Inc. v. Township of Lakewood, Superior Court, Appellate Division, Docket # A-2118-13T2, have agreed with Highpoint, after a determination by the Township that the property is not needed for public use, to place for public auction the sale of Block 423, Lot 156.01; and

WHEREAS, by Ordinance 2022-006, finally adopted on February 17, 2022, the Township authorized a sealed bid public land sale of Block 423, Lot 156.01 as permitted by N.J.S.A. 40A:12-13(a) and in furtherance of the aforementioned Settlement Agreement with Highpoint; and

WHEREAS, the necessary public notice by publication was given that this property was to be sold to the highest bidder by way of sealed bid public land sale subject to the terms of the Ordinance; and

WHEREAS, the Township of Lakewood received three sealed bids to purchase the property known as Block 423, Lot 156.01 to be on the official tax map of the Township of Lakewood following recordation of a minor subdivision map pursuant to Ordinance 2022-006, and thereafter exercised their option pursuant to the Ordinance not to open these sealed bids but rather invite these bidders to a virtual auction conducted via Cisco Web-Ex as a result of COVID-19 restrictions; and

WHEREAS, a public auction via Cisco WebEx was conducted on March 30, 2022; and

WHEREAS, Yehuda Dachs on behalf of Lenox Group, L.L.C., c/o Adam Pfeffer, Esq., 2110 West County Line Road, Suite 2, Jackson, New Jersey offered the highest winning bid in the amount of $9,900,000.00 and has made a satisfactory deposit of at least ten (10%) of its highest winning bid in the amount of $1,370,000.00 in accordance with the Ordinance; and

           WHEREAS, the Township Committee of the Township of Lakewood is desirous of accepting the aforementioned bid subject to the limitations and restrictions set forth in Ordinance 2022-006; and

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

1.     The Township Committee hereby accepts the bid of Yehuda Dachs on behalf of Lenox Group LLC in the amount of $9,900,000.00 for the purchase of Block 423, Lot 156.01, subject to the execution of a Property Sale Agreement between the Township, Highpoint at Lakewood Condominium Association, Inc., and Yehuda Dachs on behalf of Lenox Group, L.L.C.

2.     The sale of Block 423, Lot 156.01 is subject to the conditions, restrictions and requirements set forth in Ordinance 2022-006, and the aforementioned Property Sale Agreement.

3.     Full payment for this property shall be made by certified check or bank check at closing.  Closing shall be scheduled to occur within 30 days from the date this Resolution is adopted.

4.     It shall be the responsibility of the aforesaid purchaser to pay all costs and expenses incurred by both the Township of Lakewood and the purchaser relating to the sale, transfer, and exchange of said real property.

5.     That should the property be developed, it shall be done in compliance with all applicable Lakewood Township Ordinances as well as all County and State laws, rules and regulations, notwithstanding any restrictions, conditions or interests imposed by the Township of Lakewood and included within this Resolution and in the Deed.

6.     The Deed must be recorded within 30 days of closing or title to the property shall automatically revert back to the Township of Lakewood without the necessity of entry or re-entry.

7.     It is expressly understood that the Township of Lakewood makes no representations with regard to the property or title.  This sale is made “as is”.

8.     No commission shall be paid to any real estate broker/agent or any other person.

9.     The Mayor or Deputy Mayor is authorized to execute and the Township Clerk to attest to any and all documentation that may be necessary to convey the aforementioned property.

BE IT FURTHER RESOLVED that the Township Clerk shall forward a certified copy of this Resolution to the following:

A.  Township Manager;        

B.  Chief Financial Officer;

C.  Tax Collector;

D.  Tax Assessor;

E.   Yehuda Dachs on behalf of Lenox Group, L.L.C.,

            c/o Adam Pfeffer, Esq.