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2008-308Resolution Amending Resolution 2008-283 for Lee Knolls 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 October 15, 2008. The meeting was called to order by Christopher Colsey, Supervisor, and upon roll being called, the following were present: PRESENT: Supervisor Councilmembers ABSENT: Christopher J. Colsey William H. Beale Vincent F. Bettina Maureen McCarthy (arrived at 7:11 PM) Joseph P. Paoloni (arrived at 7:07 PM) The following Resolution was introduced by Councilwoman McCarthy and seconded by Councilman Bettina. WHEREAS, pursuant to Resolution No. 2008-283, the Town Board accepted the roads, easements and utilities and other improvements in Phase IV of the Lee Knolls Subdivision; and WHEREAS, O'Donnell Builders of Dutchess, Inc. posted a Maintenance Agreement secured by a Letter of Credit in the principal sum of Fifty -Seven Thousand, One Hundred Twenty -Three Dollars and 00/100 ($57,123.00) to secure the obligations contained in the Maintenance Agreement; and WHEREAS, principal amount of the Letter of Credit was erroneously described as being in the amount of Twenty -Three Thousand, Three Hundred Twenty -Eight Dollars and 00/100 ($23,328.00) in Resolution No. 2008-283. NOW, THEREFORE, BE IT RESOLVED, as follows: The recitations above set forth are incorporated in this Resolution as if fully set forth and adopted herein. 2. Resolution No. 2008-283 is hereby amended to reflect that the Maintenance Agreement executed by O'Donnell Builders of Dutchess, Inc., posted with the Town of Wappinger as the guarantee that the quality and workmanship of the improvements of the Phase IV of the Lee Knolls Subdivision will be free from defects in materials for a period of one year, was secured by a Letter of Credit issued by M&T Bank, bearing No. SB -906323-2000 in the principal sum of Fifty -Seven Thousand One Hundred Twenty -Three ($57,123.00) Dollars. Except for the amount of the security bond posted to secure the Maintenance Agreement executed by O'Donnell Builders of Dutchess, Inc., Resolution No. 2008-283 is herby otherwise ratified and confirmed. The foregoing was put to a vote which resulted as follows: CHRISTOPHER COLSEY, SUPERVISOR Voting: AYE WILLIAM H. BEALE, COUNCILMAN Voting: AYE VINCENT F. BETTINA, COUNCILMAN Voting: AYE MAUREEN McCARTHY, COUNCILWOMAN Voting: AYE JOSEPH P. PAOLONI, COUNCILMAN Voting: AYE Dated: Wappingers Falls, New York 10/15/2008 The Resolution is hereby duly declared adopted. Q/0 C HN C. M STERSON, TOWN CLERK