READINGTON TOWNSHIP PLANNING BOARD & ZONING BOARD APPLICATION FORM
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the Chief Financial Officer and the Township Clerk, Readington Township Municipal Building,
509 Route 523, Whitehouse Station, NJ 08889.
6. BOARD REVIEW.
The Board and the Township, to the extent it is involved in the application, shall review the
vouchers submitted by the professionals to determine whether the services have been performed
in the manner and to the degree required by this Agreement. Upon making a determination that
said services have been performed properly, the Board shall process said vouchers in the same
manner and under the same terms as are normally employed for vouchers submitted for work
performed on behalf of the Township. At the conclusion of this processing the amounts specified
in said vouchers shall be deducted by the escrow holder from the escrow established pursuant to
this Agreement.
7. APPLICANT'S OBJECTION.
The Applicant shall have the right to make periodic inspections of the records maintained by the
escrow holder to determine the status of the escrow at any point in time by contacting the
Township for an appointment during normal business hours. Should Applicant object to the
payment of any voucher from the escrow fund, Applicant shall notify the Township in writing
within seven (7) days from receipt of the informational copy of professional's voucher. If
professional has not supplied the Applicant with an informational copy of the voucher, Applicant
shall notify the Township within ten (10) days from receipt of the Township's statement of
activity against the escrow account. Applicant shall simultaneously provide copies of the
objection to the Chief Financial Officer, the Township or Board, depending on the entity for
whom the services were provided, and the professional who rendered the service. The Township
or its designee shall have a reasonable time to attempt to resolve the matter. However, if the
matter is not resolved within thirty (30) days of the date the objection is received, Applicant may
appeal to the County Construction Board of Appeals within forty-five (45) days from receipt of
the informational copy of the professional's voucher. If Applicant is not in receipt of an
informational copy, Applicant has sixty (60) days from receipt of the Township’s statement of
activity against the escrow account to file an appeal with the County Construction Board of
Appeals. The standards of review to be utilized by the Township or its designee in determining
whether said payments are proper are: 1) whether the fees incurred were reasonable and 2)
whether the work has been performed properly.
8. INTEREST ALLOCATIONS AND RETURN OF UNUSED ESCROW.
If an amount greater than $5,000 is deposited by an Applicant in escrow, the money, until repaid
or applied to the purposes for which it has been deposited, including the Applicant's portion of the
interest earned on it, shall continue to be the Applicant's property although held in trust by the
Township. The Township may retain interest paid on a deposit, which does not exceed $100.00
for the year. If the amount of interest earned is greater than $100.00, the entire amount shall
belong to Applicant and shall be refunded annually or at the time the deposit is repaid or applied
to the purposes for which it was deposited, as the case may be, unless the Applicant, in writing,
directs otherwise. Notwithstanding the aforementioned, the Township may retain an amount not
to exceed 33 1/3% (thirty three and one third percent) of the entire amount for administrative and
custodial expenses. In addition, if the escrow account remains insufficient for more than ninety
(90) days after notification to the Applicant, any and all interest which may result from or arise
out of the deposits remaining in escrow shall be applied, if needed, towards the compensation due
the professionals as provided elsewhere in this Agreement. If any escrow balance is remaining
after the Board has granted final approval and signed the deeds, subdivision plat or site plan, in
the case of application reviews and deposits; or, after the improvements have been approved and