AN ORDINANCE TO ACCEPT A STREET "MARGO WAY" AND PUBLIC IMPROVEMENTS IN RED APPLE ESTATES/MARGO WAY SUBDIVISION IN THE BOROUGH OF ALPINE, BERGEN COUNTY, NEW JERSEY

WHEREAS, the Planning Board of the Borough of Alpine in 1986 approved an application by RAJC Wholesaling, Inc. and Red Apple Real Estate, Inc. (hereinafter "Developer") for the subdivision and development of an approximately 19 acres site, designated on the tax map as Lot 18, Block 81-D and Lot 8, Block 81-G, known as "Red Apple Estates" at Margo Way in the Borough of Alpine; and

WHEREAS, Azzolina, Feury & Raimondi Engineering Group, the Borough Engineers, have conducted a final inspection of the subdivision project and have determined that all work associated with the approved subdivision plans has been completed in accordance with all applicable requirements, and all remedial work requested by the Borough Engineer has been addressed by the Developer, including the streets and public improvements; and

WHEREAS, it appears to the Mayor and Council of the Borough of Alpine that the public interest would be served by accepting the dedication of the streets and public improvements in the subdivision; and

WHEREAS the Borough Engineer has recommended releasing the remaining performance guaranty, subject to posting a maintenance guaranty of $47,913.00 which shall run for a two-year period:

NOW, THEREFORE, BE IT ORDAINED by the Mayor and Council of the Borough of Alpine, in the County of Bergen and State of New Jersey that the streets and public improvements constructed in the Red Apple Estates/Margo Way subdivision are hereby accepted; and

BE IT FURTHER ORDAINED that the remaining performance guaranty be released, subject to the submission of a maintenance guaranty of $47,913.00, to run for a two-year period; and

BE IT FURTHER ORDAINED that this Ordinance shall take effect upon passage and publication as required by law.