WARREN REALTY CO. v. EAST WINDSOR TP.


174 N.J. Super. 322 (1980)

416 A.2d 443

WARREN REALTY CO., INC., A CORPORATION OF THE STATE OF NEW JERSEY, PLAINTIFF-APPELLANT AND CROSS-RESPONDENT, v. TOWNSHIP OF EAST WINDSOR, A MUNICIPAL CORPORATION OF THE STATE OF NEW JERSEY, DEFENDANT-RESPONDENT AND CROSS-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided June 6, 1980.


Attorney(s) appearing for the Case

Alexander Feinberg argued the cause for appellant and cross-respondent Warren Realty Co., Inc. (Evoy & Feinberg, attorneys; Alexander Feinberg on the brief).

Michael A. Pane, IV, argued the cause for respondent and cross-appellant Township of East Windsor.

Before Judges FRITZ, KOLE and LANE.


PER CURIAM.

In order to obtain final subdivision approval plaintiff posted a performance guarantee in the amount of $142,665.55 by posting a performance bond in the amount of $71,332.75 and cash in the same amount. During the course of development requests for partial reduction of the performance guarantee were honored by the municipality by approving reductions in the performance bond. By resolution adopted June 13, 1978 the municipality,

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