HomeMy Public PortalAboutR 00:231No. 00-231
Date ol' Adoption July 2?, 2000
RESOLUTION APPROVING DEVELOPER'S AGREEMENT
WHEREAS, 1300 Federal, L.L.C. (the "Developer") is the owner of a commercial
Facility in the Borough of Carteret (the "Borough"); and
WHEREAS, the Developer wishes to make certain improvements to its facility more
commonly know as the White Rose Building, which changes have been approved by the
Carteret Planning Board; and
WHEREAS, in recognition of it's civic obligations the Developer has proposed to
contribute $ ! 5,000 to the Borough in order to assist in the improvement and upgrading of
the Borough's infrastructure; and
WHEREAS, the Mayor and Council of the Borough believe that accepting the
Developer s contnbut~o is in the best interest of the community.
NOW, THEREFORE BE IT RESOLVED by the Mayor and Council of the Borough
of Carteret that the attached Developer's Agreement is hereby approved.
BE, IT FURTHER RESOLVED that the Mayor and Borough Clerk be and are hereby
authorized to execute said Developer's Agreement on behalf of the Borough.
BE, IT FUTHER RESOLVED that this Resolution shall take effect immediately.
Adopted this 27th day of July, 2000
and Certified as a true copy of th.e
original on July 28, 2000.
KATILILEEN M. BARNEY, RMC/CMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.IL COUNCILMAN YES NO NV A.B.
CRILLEY X QIJINONES X
FAZEKAS X SANTORO X
, 0 ' BRIEN X SOHAYDA X
X - Indicate Vote AB - Abscm NV - Not Voting XOR - Indicates Vote to Overrule Veto aer
Adopted at a meeting of the Municipal Council
July 27, 2000
DEVELOPER'S AGREEMENT
THIS AGREEMENT made this day of , 2000,
by and between 1300 FEDERAL, L.L.C., a Delaware limited liability
company, with offices at c/o Angelo, Gordon & Co., L.P., 245 Park
Avenue, 26th Floor, New York, New York 10167 (hereinafter referred
to as "Developer"), and the BOROUGH OF CARTERET, a municipal
corporation of the State of New Jersey, having its principal
office at 61 Cooke Avenue, New Jersey 07008 (hereinafter referred
to as "Borough").
WITNESSETH:
WHEREAS, the Developer is the owner of lands known as
Lots 9.01 and 9.02 in Block 64.01, as shown on the Tax Map of the
Borough of Carteret (hereinafter referred to as the "Subject
Property"); and
WHEREAS, the Carteret Planning Board has granted
appropriate land development approvals as part of Application No.
P-00-4, on March 29, 2000 and May 24, 2000, as reflected in
Resolutions adopted by the Planning Board on May 24, 2000; and
WHEREAS, the aforesaid approvals and Resolutions
contained certain stipulations and conditions, all of which are to
be complied with by the Developer; and
WHEREAS, the Developer, in recognition of its civic
obligations, and the impact its development will have upon the
infrastructure of the Borough, has agreed to contribute the sum of
$15,000.00 to the Borough as required in the Resolution and
approval of May 24, 2000, to be used for municipal purposes, at
the sole discretion of the Borough;
NOW, THEREFORE, in consideration of the mutual covenants
and agreements herein contained, and the benefits conferred, the
parties, for themselves, their successors and assigns, agree to
the following terms and conditions:
1. The Developer, in addition to fully complying with
all conditions constituting part of the Planning Board's
Resolutions referred to above, shall pay to the Borough the sum of
$15,000.00 which shall be due and payable before the issuance of a
Certificate of Occupancy for the improvements now underway, or by
August 15, 2000, whichever is sooner.
2. The Developer reoognizes that it is not entitled to
receive any Certificate of Occupancy from the Borough pertaining
to the work now underway on the Subject Property until the
Developer pays the money set forth above.
3. Nothing herein shall be deemed to abrogate any
condition imposed by the part of the Resolutions set forth above.
4. The terms and conditions of this Agreement shall be
binding upon the parties hereto and their successors and assigns.
5. This Agreement shall be governed and construed in
accordance with the laws of the State of New Jersey, without
regard to the conflicts of laws or choice of laws provisions
thereof.
6. The invalidity or unenforceability of any particular
provisions hereof shall not affect the other provisions hereof, or
other conditions in the aforesaid Resolutions, and this Agreement
and those Resolutions shall be then construed as if such invalid
or unenforceable provisions were omitted so that other provisions
are enforceable.
IN WITNESS WHEREOF, the parties have caused the
Agreement to be signed by their respective officers, attested by
the Clerk and Secretary, respectively, on the day and year first
above written.
WITNESS:
1300 FEDERAL, L.L.C.
By:
ATTEST:
BOROUGH OF CARTERET
KATHLEEN
Clerk of
By:
BARNEY, Municipal
the Borough of Carteret
JAMBS FAILACE, Mayor
of the Borough of Carteret
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