2005-04-12
PERFORMANCE AGREEMENT
SECURED BY A CASH DEPOSIT
WHEREAS, the undersigned, ROBERT V. OSWALD, JR., with an address of 1559 Route 82,
Suite B, Hopewell Junction, New York 12533, has made an application to the Planning Board of the
Town of Wappinger to approve a subdivision oflands more particularly described in a subdivision map
entitled "Blackwatch Fanns" prepared by Oswald & Gillespie, P .C. dated June 1, 1999, last revised April
28, 2004 and
WHEREAS, the Planning Board granted final conditional subdivision approval, by Resolution
dated May 3, 2004, subject to certain public improvements being made and constructed and subject to
completion of the requirements set fmih in the Town Subdivision Regulations, Highway Specifications
and Zoning Law, and further subject to the requirements set fmih in the letter of Paggi, Martin & Del
Bene, LLP, Engineer to the Town, dated March 31,2004, together with a schedule of bond values; and
WHEREAS, Town Law Section 277 requires that the developer guarantee the construction,
installation and dedication of the required public improvements and obligations prior to issuance of any
building pennits; and
WHEREAS, to secure the obligation to guarantee the construction, installation and dedication
of the required public improvements and obligations, ROBERT V. OSWALD, JR. has further agreed to
personally guarantee the obligations set forth in this Performance Agreement.
NOW, THEREFORE, the undersigned, ROBERT V. OSWALD, JR., hereby agrees to the
following:
1. To make, construct, complete the improvements, and agree to perfonn all of the
obligations set forth in the Subdivision Regulations, Highway Specifications and Zoning Law of the
Town of Wappinger, including road maintenance and snow removal in accordance with the standards
maintained by the Town of Wappinger Highway Depmiment and at the direction of the Town of
Wappinger Highway Superintendent, in accordance with the Resolution of Subdivision Approval dated
May 3,2004, the letter of the Engineers to the Town dated March 31, 2004, and scheduled bond values,
and in accordance with the Local Laws, Ordinances, Rules and Regulations of the Town of Wappinger,
within two (2) years from the date hereof.
2. Upon construction and completion of the required improvements and obligations set forth
above, and upon request of the Town, the undersigned will dedicate same to the Town, free and clear of
any liens or obligations as set fOlih in the Local Laws, Ordinances, Rules and Regulations of the Town
of Wappinger.
3. As security for this obligation, including sums sufficient to pay for attomeys' or
consultants' fees in the event the undersigned defaults hereunder, the undersigned will hereby deliver to
the Town of Wappinger the following security for the faithful perfonnance of the obligations the
undersigned has undertaken herein: a cash deposit, in the sum of $705,685.00, and the undersigned
hereby consents to the use thereof as security for this obligation.
4. The said ROBERT V. OSWALD, JR. fuliher binds his/her, their, its heirs, executors,
administrators, successors or assigns for the faithful perfom1ance of this obligation.
. 5. The undersigned further acknowledges that if any default remains in the perfol111ance of
the obligations created hereunder, the lots within the subdivision will no longer be eligible for building
pelmits until such defaults are cured.
Dated: April (Z-r2005
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ROBERT V. OSWALD, JR.
STATE OF NEW YORK
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COUNTY OF DUTCHESS
On April 12--; 2005, before me, the undersigned, personally appeared ROBERT V. OSWALD, JR,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individu,al, or.the personu~ behalf of which
the individual acted, executed the instrument. ~~( '._... . Ii
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ARY LIC.
Joel D. HAiNIG
OTARY PU~LIC, ~t;rte of New York
ualified In Dut~eo.. No. 02HA4519362~
, mmission Expires November 3D, 200 ~0