HomeMy Public PortalAboutr 15-043Poolution of t�P Porml -U4 of ga tPPPt, Y J,
No. 15-43 Date of Adoption Feblltttxy 26 ,
I APPROVING FINAL PAYMENT '& CLOSE OUT CHANGE ORDER
CORNELL PARK IMPROVEMENTS PROJECT
WHEREAS, the Governing Body of the Borough of Carteret has previously awarded a contract
to All Surface Asphalt Paving, Inc., in the amount of $327,129.50 for the Connell Park
Improvements Project; and
WHEREAS, the Borough's Consulting Engineer for the project, CME Associates, has advised
the Governing Body that a modification to the contract is reasonable and necessary and has
recommended that the aforesaid contract be modified in-accordance with the Close Out Change
Order, attached hereto; and
WHEREAS, this Close Out Change Order includes a change in the description of work to
reduce quantities to complete project construction and reflects as -built quantities; and
WHEREAS, this Close Out Change Order provides for a net decrease in the contract price in the
amount of $28,553.82, resulting in a revised contract price of $298,575.68; and
WHEREAS, the Borough's Consulting Engineer, CME Associates, has advised that the above)
described changes and/or modifications to the project were unforeseen at the time of the award
of the original contract.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Borough Council of the Borough
of Carteret, County of Middlesex, State of New Jersey as follows:
1. That the Close Out Change Order, attached hereto and made a part hereof, providing for a
net decrease of $28,553.82 in the overall contract price, resulting in a revised total
contract price of $298,575.68, including any modifications to the original contract price
in accordance with any and all previously approved change orders, is hereby approved.
2. That the appropriate Borough officials are hereby authorized and directed to execute the
Close Out Change Order and Final Payment (See Attached).
3. That a copy of this Resolution and a fully executed copy of this Close Out Change 0
be forwarded to the Borough's Purchasing Department and to CME Associates
distribution to All Surface Asphalt Paving, hre..
Adopted this 26 day of February, 2015
and certified as a true copy of the
original on February 27, 2015.
KATHLEEN M. BARNEY, MNIC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
X
X
DW
X
X
X
SnW
X
X - Indicate Vote AB - Absent NV - Not Voting
XOR- Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
26 2015
CLE K
r/.I 116
Y�
February 11, 2015
Via Electronic (barnevk(Wcarferet.net) and Regular Mail
Mayor Daniel J. Reiman and Borough Council
Borough of Carteret
61 Cooke Avenue
Carteret, NJ 07008
Attn: Kathleen Barney, Municipal Clerk
Re: Final Payment and Closeout Change Order
Improvements to Cornell Park
All Surface Asphalt Paving, Inc.
Borough of Carteret, Middlesex County, NJ
CME File: HCA00206.01
Dear Mayor and Borough Council:
Transmitted herewith please find the Final Payment Estimate for the above - referenced
project in the amount of $74,465.36 as approved by this office for your review, approval
and further handling. The project is complete at this time, including all punch list items.
The change order reflects increases and decreases in original contract quantities
required to complete the project. The increases in quantities could not, in our opinion,
have reasonably been effectuated by a separately bid contract without unduly disrupting
work and imposing adverse consequences on the Borough and will provide an improved
level of service to residents.
Additionally, we are pleased to report that the Closeout Change Order results in a
decrease in the project cost from the original contract amount of $327,129.50 to an
adjusted total of $298,575.68 for a reduction of $28,553.82.
Also enclosed is the two (2) year Maintenance Bond in the amount of $50,569.42, fifteen
percent (15 %) of the original Contract Amount, including the work performed at
Shorecrest Park. By copy of the bond to the Borough Attorney, we request that same is
reviewed and approved.
S: \Carteret \HCA00208.01 Cornell Park \COrrespondenceM4 -11A5 Final Payment and Closeoutdoc
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COKUxnNG AND hM ORAL ENGINEERS
1460 ROUTE 9 SOUTH, HOWELL, NEW JERSEY 07731 — (732) 4627400 — FAX: (732) 4090766
JOHN H. ALLGAIR, P.E., P.P. (1983 -2001)
DAVID J. SAMUEL, P.E., P.P.
JOHN J. STEFANI, P.E., L.S., P.P.
JAY B. CORNELL, P.E., P.P.
MICHAEL J. McCLELLAND, P.E., P.P.
GREGORY R. VALESI, P.E., P.P.
® — r
TIMOTHY W. GILLEN, P.E., P.P.
-
BRUCE M. KOCH, P.E., P.P.
BEHRAM TURAN, P.E.
TREVOR J. TAYLOR, P.E., P.P.
1 N(1rIAT6Q
LOUIS J. PLOSKONKA, P.E.
February 11, 2015
Via Electronic (barnevk(Wcarferet.net) and Regular Mail
Mayor Daniel J. Reiman and Borough Council
Borough of Carteret
61 Cooke Avenue
Carteret, NJ 07008
Attn: Kathleen Barney, Municipal Clerk
Re: Final Payment and Closeout Change Order
Improvements to Cornell Park
All Surface Asphalt Paving, Inc.
Borough of Carteret, Middlesex County, NJ
CME File: HCA00206.01
Dear Mayor and Borough Council:
Transmitted herewith please find the Final Payment Estimate for the above - referenced
project in the amount of $74,465.36 as approved by this office for your review, approval
and further handling. The project is complete at this time, including all punch list items.
The change order reflects increases and decreases in original contract quantities
required to complete the project. The increases in quantities could not, in our opinion,
have reasonably been effectuated by a separately bid contract without unduly disrupting
work and imposing adverse consequences on the Borough and will provide an improved
level of service to residents.
Additionally, we are pleased to report that the Closeout Change Order results in a
decrease in the project cost from the original contract amount of $327,129.50 to an
adjusted total of $298,575.68 for a reduction of $28,553.82.
Also enclosed is the two (2) year Maintenance Bond in the amount of $50,569.42, fifteen
percent (15 %) of the original Contract Amount, including the work performed at
Shorecrest Park. By copy of the bond to the Borough Attorney, we request that same is
reviewed and approved.
S: \Carteret \HCA00208.01 Cornell Park \COrrespondenceM4 -11A5 Final Payment and Closeoutdoc
;� i3
COKUxnNG AND hM ORAL ENGINEERS
1460 ROUTE 9 SOUTH, HOWELL, NEW JERSEY 07731 — (732) 4627400 — FAX: (732) 4090766
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MAINTENANCE BOND
Bond No. 610021565
KNOW ALL MEN BY THESE PRESENTS, that
All Surface Asphalt Paving, Inc., 528 Hardenberg Avenue, Point Pleasant, NJ 08742
as Principal, and
Aegis Security Insurance Company, 2407 Park Drive, P.O. Box 3153, Harrisburg, PA 17110
as Surety, are held and firmly bound unto Borough of Carteret
20 Cooke Avenue, Carteret, NJ 07008
as Obligee, in the full and just sum of Fifty Thousand Five Hundred Sixty-Nine and..42 /100
Dollars ( $ 50 ,569.42
for the payment of which sum, well and truly to be made, we bind ourselves, our heirs, executors,
administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the said Principal entered into a contract with Borough of Carteret
dated 9 -23 -2013
for Improvements to Cornell Park -Pinho Avenue
WHEREAS, said contract provides that the Principal will furnish a bond conditioned to
guarantee against all defects in workmanship and materials which may become apparent during the
period of two year(s) from November 12th, 2014
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if
within two year(s) from November 12th, 2014 the work done
under the terms of said contract shall disclose poor workmanship in execution of said work, and the
carrying out of the terms of said contract, or it shall appear that defective materials were furnished
thereunder, then this obligation shall remain in full force and virtue, otherwise this instrument shall
be void.
SIGNED AND SEALED THIS 18th
Attest/Witness
Wj�ness
Aegis
B y : I !
Nancy Nigro
Attorney -in -Fad
DAY OF November , 2014
Surety Disclosure Statement and Certification
Aegis Security Insurance Company surety (ies) on the attached bond, hereby
certifies (y) the following:
(1) The surety meets the applicable capital and surplus requirements of R.S. 17:17 -6 or
R.S. 17:17 -7 as of the surety's most current annual filing with the New Jersey
Department of Insurance.
(2) The capital (where applicable) and surplus, as determined in accordance with the
applicable laws of the State of New Jersey, of the surety(ies) participating in the
issuance of the attached bond is (are) in the following amount(s) as of the calendar
year ending December 31, 2013, (insert most recent calendar year for which capital
and surplus amounts are available), which amounts have been certified as indicated
by certified public accountants (indicating separately for each surety that surety's
capital and surplus amounts, together with the name and address of the firm of
certified public accountants that shall have certified those amounts):
JOHNSON LAMBERT LLP
3110 Fain1ew Park Drive Suite 800
Falls Church, VA 22042
SEE ATTACHED STATEMENT
(3) (a) With respect to each surety participating in the issuance of the attached bond that
has received from the United States Secretary of the Treasury a certificate of
authority pursuant to 31 U.S.C. 9305, the underwriting limitation established therein
and the date as of which that limitation was effective is as follows (indicating for
each surety that surety's underwriting limitation and the effective date thereof).
$5,149,000. Effective July 1, 2014
(b) With Respect to each surety participating in the issuance of the attached bond that
has not received such a certificate of authority from the United States Secretary of the
Treasury, the underwriting limitation of that surety as established pursuant to R.S.
17:18 -9 as of date on which such limitation was so established, is as follows
(indicating for each such surety that surety's underwriting limitation and the date on
which that limitation was established:
(4) The amount of the bond to which this statement and certification is attached is
$ 50,569.42
If, by virtue of one or more contracts of reinsurance, the amount of the bond
indicated under item (4) above exceeds that total underwriting limitation of all sureties on
the bond as set forth in items (3) (a) or (3) (b) above, or both, then for each such contract
of reinsurance:
(a) The name and address of each such reinsurer under the contract and the amount
of that reinsurer's participation in the contract is as follows:
(b) Each surety that is party to any such contract of reinsurance certifies that each
reinsurer listed under item (5) (a) satisfies the credit for reinsurance requirement
established under P.L. 1993, c.243 (C.17:51B -1 et seq.) and any applicable
regulations in effect as of the date on which the bond to which this statement
certification is attached shall have been filed with the appropriate public agency.
CERTIFICATION
(to be completed by an authorized certifying agent for each surety on the bond)
1, Nancy Nigro (Name of Agent) as Attorne n actF tffitre�of agent) for Aegis
Security Insurance Company (name of surety , a corporation(m t)tal insurance
company /other (indicate type of business organn by circling one) domiciled in
Pennsylvania (state of domicile). DO HEREBY CERTIFY that, to the best of my
knowledge, the foregoing statements made by me are true, and ACKNOWLEDGE
that, if any of those statements are false, this bond i0- olH -aqd I am subject to
punishment. \\
(Signature
(Printed Name of Certifying Agent)
Attorney -in -fact
(Title of Certifying Agent)
November 18th, 2014
(Date of Certification)
AEGIS SECURITY INSURANCE COMPANY
STATUTORY STATEMENTS OF ADMITTED ASSETS, LIABILITIES AND CAPITAL AND SURPLUS
DECEMBER 31, 2013 AND 2012
ADMITTED ASSETS
2013
2012
Bonds, at statement value
$ 16,702,092
$ 18.250,907
Stocks:
Preferred: At fair value
165,360
323,850
At cost
499,768
1,399,251
Common, fair value
13,405,134
15,103,043
Subsidiary, equity basis
14,924 245
14,061,736
28,994,507
30,887,880
Mortgage loans on real estate
366,447
1,418,571
Real estate, cost less accumulated depreciation:
Occupied by Company
2,284,797
2,350,672
Held- for -sale
209,000
1,961,900
Cash and short-term investments
33,187,669
18,931,867
Other invested assets
2,072,454
1.880,980
67,114 874
57.431,870
Total cash and invested assets
83,816,966
75,682,777
Accrued investment income
233,990
261,911
Premiums in course of collection:
Affiliate:
American Sentinel Insurance Company
1,393,001
1,069,048
Mobile Rec., Inc.
510,610
845,335
Other
7,554,973
6,006,571
Reinsurance recoverable on paid losses
1,485,991
1,875,741
Contract surety — funds administration
1,130,348
1,095,773
Federal income tax receivable
0
600,663
Prepaid Insurance Expense
54,120
Net admitted tax asset
1,679,200
1,687,958
14.042, 234
13.443,000
LIABILITIES AND CAPITAL AND SURPLUS
97.859.200
$ 89.125,777
2013
2012
Losses
$ 13,870,615
$ 14,868,146
Loss adjustment expenses
2,932,293
1,561,765
Reinsurance payable on paid loss and loss adjustment expenses:
Affiliate, American Sentinel Insurance Company
935,564
599,438
Other
Commissions payable
408,592
382,180
Accounts payable and accrued expenses
540,676
459,916
Accrued:
Taxes, licenses and fees
394,999
427,955
Federal income taxes
262,694
Unearned premiums
20,036,359
17,592,319
Advance premiums
240,207
207,091
Ceded reinsurance premiums payable
2,811,785
2,270,185
Amounts withheld for account of others
3,790,081
4,995,330
Payable to affiliate, American Sentinel Insurance Company
150.300
1.243,400
Total liabilities
46,374,165
44,607,725
Capital and surplus:
Common stock, par value $1.40 per share, 5,000,000 shares
authorized; 3,000,000 shares issued and outstanding
4,200,000
4,200,000
Aggregate write - in,special surplus funds
Paid -in surplus
5,266,827
5,266,827
Unassigned surplus
42,018,208
35,051.225
Total capital and surplus
51,485.035
$ 97,859,20Q
44.518,052
89.125.777
THIS 14)AATlI _Nt I I- d.AD \011) IF VrNIBrn IS V()'I I,A ul
1'OwtiN (FIR I IM A 1111 Sp. PA 035
AEGIS SECURITY INSURANCE COMPANY
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, THAT AEGIS SECURITY INSURANCE COMPANY does hereby make, constitute and
appoint: JOHN P. FOLLMAN, JR., DOUGLAS S. HANSEN, LYNN Al. WHEELOCK, NANCY NIGRO, KATHLEEN M, ROWE,
ERIC J. FOLLMAN, SR., FERNANDA L. DEPAOLANTONIO
its true and lawful Attorney -in -Fact, to make, execute and deliver on its behalf surety bonds, undertaking and other instruments of similar
nature as follows: $5 MILLION
This Power of Attorney is granted and sealed under and by the authority of the following Resolution adopted by the Board of Directors of
the Company on the 4th day of February 1993.
"Resolved, That the President, any Vice President, the Secretary and any Assistant Secretary appointed for that purpose by the officer in
charge of surety operations shall each have authority to appoint individuals as Attomey -in -Fact or under other appropriate titles with
authority to execute on behalf of the Company, fidelity and surety bonds and other documents of similar character issued by the Company in
the course of its business. On any instrument making or evidencing such an appointment, the signatures may be affixed by facsimile. On
any instrument conferring such authority or on any bond or undertaking of the Company, the seal or facsimile thereof may by imposed or
fixed or in any other manner reproduced; provided, however, that the seal shall not be necessary to the validity of any such instrument or
undertaking."
"Resolved, That the signature of each of the following officers; President, Vice President, any Assistant Vice President, any Secretary or
Assistant Secretary and the seal of the Company may be affixed by facsimile to any Power of Attorney or to any Certificate relating thereto,
appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys -in -Fact for the purpose only of executing and attesting
bonds and undertaking and other writings upon the Company and any such power required and certified by such facsimile signature and
facsimile seal shall be valid and binding on the Company in the figure with respect to any bond or undertaking to which it is attached."
IN WITNESS WHEREOF, AEGIS SECURITY INSURANCE COMPANY has caused its official seal to be hereunto affixed, and these
presents to be signed by its President this 27" day of August, 2014.
Commonwealth of Pennsylvania }
County of Dauphin } ss.: Harrisburg
}
AEGIS SECURITY INSURANCE COMPANY
BY \S y \NSUq
DARLEEN J. FRITZ parcu'tf�
President m _1977
On this 27 day of August, 2014, before me personally came Darleen J. Fritz to me known, who being by me duly sworn, did depose and
say that she is President of AEGIS SECURITY INSURANCE COMPANY, the corporation described herein and which executed the
above instrument; that she knows the seat of the said corporation, that the seal affixed to the said instrument is such corporate seal; that it
was so affixed by order of the Board of Directors of said corporation and that she signed her name thereto by like order,
REBECCA LIDDICK
Notary Public
My Commission Expires July 25, 2017
1, the undersigned, Secretary of AEGIS SECURITY INSURANCE COMPANY, a Pennsylvania corporation, DO HEREBY CERTIFY
that the foregoing and attached Power of Attorney remains in full force and has not been revoked: and furthermore that the Resolution of the
Board of Directors, set forth in the said Power of Attorney, is now in force.
Signed and sealed at the City of Harrisburg, in the Commonwealth of Pennsylvania, dated this 18th day of November 2014
14� \N S U
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DEBORAH A. GOOD "' 1977 go
Secretary s °�ksnvr,M' L�
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- PE0Un.sTFOBC,4,p,T�iCATr0NO F AVAI
ABLE r'UtV1S:
For: All Strcface A# &t Ix4v .. Ire., -Re: Correll Park Irrpirovargrt�
a�rge Order. Re:' Close Cut
Ila.�e orA ccou't:, f
A'�OUiYI 1G BEEsdCV
'RED: Net Der- ase in tlb' c
1esri tr�rzt Price in the arotmt of $28,553.82
tub I a rev to t
puce o ,
`A1NihPN&f 13 R N=. .
Municipal Cterl'
CEO - �' CA ZOiY OF Y' i?.a i i T i
-=YO.0 Fu S
I, T re . r of u E e Eo o Ca: ter.�4 do cerur "y tSzi herd a re s
--- Eud�et.to_e'nable.theivluZCip -t Coen __..,_ —. _ uEcient 6 1nds zvzlabl
Cil dlJ thOrLc i'ne en e Jozl�curreot --
2,d: ann` Lnio a con bcClyee 7 the E
oro o _h or Ca ierei
The fiUnds available vrthiis con ""t c ` -
y e in the Bud e in Ehe 2ccount o_�
in the amount o_" �
BY this cer� I have h reb e
y neumoered h abo n nr� z
_ ccour` For toe amount 0Fdie contract.
PATp C,_I D- X510— ire-sur r
D. ^ "te. A
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