2015-208 2015-208
Resolution Accepting Maintenance Agreement Secured By Letter Of Credit For The Brh
Realty Subdivision
At a Regular Meeting of the Town Board of the Town of Wappinger, Dutchess County,
New York, held at Town Hall, 20 Middlebush Road, Wappingers Falls,New York, on
September 29, 2015.
The meeting was called to order by Barbara Gutzler, Supervisor, and upon roll being
called,the following was recorded:
✓Vote Record-Resolution:RES-2015-208' .
Yes/Aye No/Nay Abstain Absent
QAdopted ... ..... ...... ..........................................
El Adopted as Amended Barbara Gutzler ............... El_
❑ Defeated William CiccarelliS econder Q ❑ ❑ ❑_
❑ Tabled William H.Beale Voter Q ❑ ❑ ❑
...........................................................,........................................_....................................................................... .
❑ Withdrawn Ismay..Czarniecl i................................................_i.._Voter................................0.:...................<.................._❑ ❑ Q
..............................................................................................................
Michael Kuzmicz 1 Mover i Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Kuzmicz and seconded by
Councilman Ciccarelli.
WHEREAS, by Resolution dated October 22, 2007, the Town Board accepted a Performance
Agreement secured by a Letter of Credit in the amount of$94,800 to guarantee the construction,
installation and dedication of the required public improvements granted in connection with the
Final Subdivision Plat Approval to Phantom Hollow Equities, Inc.; and
WHEREAS, the Phantom Hollow Equities, Inc. has completed all the work as required
by the Final Resolution of Subdivision Approval; and
WHEREAS, pursuant to Subdivision Regulations of the Town of Wappinger, Phantom
Hollow Equities, Inc. is required to guarantee that the quality and workmanship of any public
improvements to be dedicated to the Town will be free from defects in materials and
workmanship for a period of two years from the date of acceptance by the Town Board; and
WHEREAS, to secure the obligations to guarantee the required public improvements,
Phantom Hollow Equities, Inc. has executed a Maintenance Agreement Secured by a Letter of
Credit together with a Letter of Credit issued by M & T Bank in the principal sum of$18,960,
issued in favor of the Town of Wappinger.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The recitations above set forth are incorporated in this Resolution as if fully set
forth and adopted herein.
2. The Town Board hereby determines that it is in the best interest of the residents
of the Town of Wappinger to accept the improvements made and constructed in connection with
the above referenced subdivision and hereby accepts same upon delivery of the original
Maintenance Agreement and Letter of Credit in the principal sum of$18,960 conditioned upon
the review and approval of same by the Attorney to the Town, a copy of which is affixed hereto.
The Town Board hereby authorizes the Town Clerk to release the original Performance
Agreement secured by a Letter of Credit issued by M&T Bank bearing# SB-910912-2000,
upon the Town Clerk's receipt of the above referenced Maintenance Agreement secured by a
Letter of Credit and the Letter of Credit in the principal sum of$18,960 in form acceptable to the
Attorney to the Town.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Michael Kuzmicz, Councilman
SECONDER: William Ciccarelli, Councilman
AYES: Barbara Gutzler, William Ciccarelli, William H. Beale, Michael Kuzmicz
ASSENT: Ismay Czarniecki
Dated: Wappingers Falls,New York
9/29/2015
The Resolution is hereby duly declared Adopted.
^SEPHP. I, TOWN CLEF-K