Exhibit 10bk
SECOND AMENDMENT TO CONTRACT
THIS SECOND AMENDMENT TO CONTRACT made as of the 20th day of April, 2006 by
and between TRANSTECH INDUSTRIES, INC., a Delaware corporation ("Transtech"),
BIRCHCREST, INC., a New Jersey corporation ("Birchcrest"), and ▇▇▇▇▇▇▇ LANDFILL,
INC., a New Jersey corporation ("▇▇▇▇▇▇▇"), all having an address at ▇▇▇
▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ (collectively hereinafter
referred to as "Seller") and BWF DEVELOPMENT LLC. a New Jersey limited liability
company, having an address at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇ ("Purchaser").
WHEREAS, Seller and Purchaser entered into that Agreement of Purchase and
Sale dated May 17, 2001, as amended (the "Agreement"), for real estate (the
"Premises") located in Deptford Township, (Gloucester County, New Jersey; and
WHEREAS, the parties desire to extend the Closing Date of the Agreement;
and
WHEREAS, Purchaser has obtained Subdivision Approval from Deptford
Township, as provided by the Amendment to Contract dated December 2002, and the
parties wish to perfect the subdivision by recording the Subdivision Deed; and
WHEREAS, the parties desire to provide that the Premises, which consists of
several lots owned by separate entities comprising Seller, will be conveyed at
Closing by separate Deeds from the respective owners, with the Purchase Price to
be allocated as set forth herein; and
WHEREAS, the parties wish to provide Seller a drainage easement across a
portion of the Premises; and
WHEREAS, the parties desire to amend the Agreement to provide for the
foregoing, subject to the terms and conditions set forth herein.
NOW THEREFORE, the parties agree as follows:
1. Paragraph 3 of the Agreement is modified to provide that the Closing Date
shall be on or before December 15, 2006 upon 10 days notice from Seller, subject
to agreement of the Parties. Seller shall deliver the Premises at Closing
vacant, unoccupied and free of all tenancies, except for the Tower Lease.
2. Seller shall execute the Subdivision and Consolidation Deed in the form
attached hereto as Exhibit A and deliver same to Purchaser by April 20, 2006, to
be recorded in the Office of the Gloucester County Clerk. Seller shall also
execute and deliver to Purchaser by April 20, 2006, an Affidavit of
Consideration, a Seller's Residency Certification/Exemption in standard forms,
and any other ancillary forms necessary to record the Subdivision and
Consolidation Deed. In the event that the Closing does not occur through no
fault of Seller, Purchaser shall reimburse Seller within thirty (30) days the
reasonable costs, not to exceed $2,500, of obtaining a minor subdivision
approval to undo the Subdivision and Consolidation Deed and to restore the tax
lots to their current configuration.
3. Seller shall provide at Closing separate Deeds for the Premises, and
Paragraph 9(a) of the Agreement is hereby modified accordingly, with the
Purchase Price allocated as follows:
(a) Transtech Industries, Inc. (formerly Scientific, Inc.) shall convey ▇▇▇ ▇▇
▇▇▇▇▇ ▇▇▇.▇▇ for consideration of One Hundred Fifty Thousand ($150,000.00)
Dollars;
(b) Birchcrest, Inc. shall convey ▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇.▇▇ for consideration of One
Hundred Fifty Thousand ($150,000.00) Dollars; and
(c) ▇▇▇▇▇▇▇ Landfill, Inc. shall convey Lots 65,70 (as subdivided pursuant to
Subdivision Plan and 72 for consideration of One Million Eight Hundred Fifty
Three Thousand ($1,853,000.00) Dollars.
4. Purchaser acknowledges that a portion of the property to be retained by
Seller currently drains across a portion of the Premises to be conveyed to
Purchaser and into a storm sewer pipe located on the Premises. Purchaser agrees
to grant to Seller a non-exclusive drainage easement to permit the continued
flow of such drainage across the Premises within the area to be designated the
"Drainage Easement Area", as depicted on Exhibit B annexed hereto. The drainage
easement shall be set forth in an agreement which shall contain reasonable
conditions, including indemnification for damage or injury arising in connection
with the drainage easement, and Purchaser's right to relocate the easement,
provided same does not materially affect Seller's drainage rights. Seller's
attorney shall prepare and deliver the draft drainage easement agreement to
Purchaser's attorney within thirty (30) days of the date hereof, and the parties
shall work together to finalize the document within (90) ninety days of the date
hereof and to attach the finalized document hereto as Exhibit C, to be executed
and delivered by the parties at Closing, and to be recorded immediately after
recordation of the Deed conveying the Premises, in the Office of the Gloucester
County Clerk
5. Purchaser represents that as of the date hereof:
(a) It is not aware of any default by seller of its obligations under the
Contract;
(b) Purchaser will accept a conveyance of the Premises subject to all
environmental conditions that existed as of April 1, 2006, except for surface
debris which seller is obligated to remove pursuant to Section 2 of the
Amendment to Contract dated December 2002, subject to an inspection of the
Premises by Purchaser's environmental consultant to be conducted promptly after
the date hereof confirming no change from its condition as of December 20, 2002,
unless such change was caused by Purchaser. Purchaser shall be entitled to a
credit at Closing for the cost of said inspection in the amount of $1,200.00.
The Premises shall be subject to a final inspection at or just prior to Closing
that discloses no change from the condition as of April 1, 2006, unless such
change was caused by Purchaser;
(c) Subject to Seller delivering the Premises vacant and free of tenancies as
required by the Contract and a title rundown at closing disclosing no
intervening lien not created by Purchaser, the state of title as disclosed in
the January 22, 2003 title commitment (#3621-01199) of Chicago Title is
acceptable including the subdivision of the Premises as set forth in the Deed
attached hereto.
6. Seller represents that as of the date hereof:
(a) It is not aware of any default by Purchaser of its obligations under the
Contract;
(b) It is not aware of any change in the environmental condition of the Premises
from its condition as of December 20, 2002;
(c) It is not aware of any defects in title to the Premises that have arisen
after January 22, 2003.
7. Seller and Purchaser represent that as of the date hereof (i) the Contract
is in full force and effect, and (ii) they are not aware of any reason why
closing cannot take place on December 15, 2006 as provided for herein.
8. Unless specifically modified herein, all capitalized terms shall have the
same meaning as ascribed to them in the Agreement. As modified by this Second
Amendment to Contract, the Agreement shall continue unaltered in full force and
effect.
IN WITNESS WHEREOF, the parties have caused this Second Amendment to
Contract to be executed by their duly authorized, legal representatives as of
the date first above written.
BWF DEVELOPMENT, LLC
By:/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Member
TRANSTECH INDUSTRIES, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇, President
BIRCHCREST, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇ ▇▇▇▇▇, President
▇▇▇▇▇▇▇ LANDFILL, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇, President
EXHIBIT A
::ODMA\PCDOCS\GHCDOCS\525250\1
Prepared By:
SUBDIVISION AND CONSOLIDATION
DEED
This Deed is made on , ▇▇▇▇
▇▇▇▇▇▇▇ LANDFILL, INC., whose address is ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇,
▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, referred to as the Grantors,
AND
▇▇▇▇▇▇▇ LANDFILL, INC., whose address is ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇,
▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, referred to as the Grantees.
The words "Grantor" and "Grantee" shall mean all Grantors and all Grantees
listed above.
1. Transfer of Ownership. The Grantor grants and conveys (transfer of ownership
of) the property (called the "Property") described below to the Grantee. This
transfer is made for the sum of ONE ($1.00) DOLLAR.
The Grantor acknowledges receipt of this money.
2. Tax Map Reference. (N.J.S.A. 46:15-2.1) Township of Deptford Block No.
387.01 ▇▇▇ ▇▇. ▇▇ and P/O Lot 70 to be known as Lot 64, Account No.
( ) No property tax identification number is available on the date of this
Deed. (Check box if applicable.)
3. Property. The property consists of land and all the buildings and structures
on the land in the Township of Deptford, County of Gloucester, and State of New
Jersey. The legal description is:
(X) Please see attached Legal Description annexed hereto and made a part hereof
(check box if applicable)
THE PURPOSE OF THIS DEED IS TO MEMORIALIZE A MINOR SUBDIVISION AND CONSOLIDATION
OF LOTS GRANTED BY THE DEPTFORD TOWNSHIP PLANNING BOARD FOR ▇▇▇ ▇▇ ▇▇▇ ▇▇▇ ▇▇ ▇▇
▇▇▇▇▇ 387.01, RESULTING IN A PARCEL TO BE KNOW AS BLOCK 387.01, LOT 70 AND A
CONSOLIDATED PARCEL TO BE KNOWN AS BLOCK 387.01, LOT 64, IN ACCORDANCE WITH NJSA
40:55D-37.
"Pursuant to NJSA 40:55D-37, as amended, we certify that Subdivision application
No. PMN009-04 as herein described was approved by the Deptford Township Planning
Board on October 6, 2004, and extended by Resolution No. 2005-30, subject to
this Deed of Conveyance being recorded with the Recording Officer on or before
190 days.
CHAIRMAN, DEPTFORD TOWNSHIP
PLANNNG BOARD
ATTEST:
SECRETARY, DEPTFORD TOWNSHIP
PLANNING BOARD
The address of the Property is: Block 387.01, Lot 64, and P/O 70 to be known as
Lot 64 after consolidation.
4. Promises by Grantor. The Grantor promises that the Grantor has done no act to
encumber the property. This promise is called a "covenant as to grantor's acts"
(N.J.S.A. 46:4-6). This promise means that the Grantor has not allowed anyone
else to obtain any legal rights which affect the Property (such as by making a
mortgage or allowing a judgment to be entered against the Grantor).
5. Signatures. The Grantor signs this Deed as of the date at the top of the
first page.
▇▇▇▇▇▇▇ LANDFILL, INC.
BY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇, President
Attest:
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
STATE OF NEW JERSEY )
)SS:
COUNTY OF GLOUCESTER)
I CERTIFY that on April 18, 2006,
▇▇▇▇▇▇ ▇. ▇▇▇▇▇ personally came before me and this person acknowledged under
oath, to my satisfaction, that:
a. this person is the Vice President of ▇▇▇▇▇▇▇ Landfill, Inc., the
corporation named in this Deed;
b. this person is the attesting witness to the signing of this Deed by the
proper corporate officer who is the President of the corporation;
c. This Deed was signed and delivered by the corporation as its voluntary act
duly authorized by a proper resolution of its Board of Directors;
d. this person knows the proper seal of the corporation which was affixed to
this Deed;
e. this person signed this proof to attest to the truth of these facts; and
f. the full and actual consideration paid or to be paid for the transfer of
title is $1.00.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇.
(Print name and title below)
▇▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇.
VP
Signed and sworn to before me on
this 18th day of April, 2006
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
A Notary Public of New Jersey
My Commission Expires April 6, 2008
Consulting engineer services
Engineers, Planners, and Land Surveyors
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, ▇▇., PE: PP, CME
Chief Executive Officer
▇▇▇▇▇ ▇. ▇▇▇▇▇, PE, PP, CME
President
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, III, PE, PLS, CME
Vice President
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, PE, CME
Vice President
▇▇▇▇▇▇▇▇ ▇▇▇▇▇, PLS
Associate
March 2, 2006
LEGAL DESCRIPTION
NEW LOT 64 -BLOCK 387.01
EXHIBIT OF SUBDIVISION
AND FUTURE LOT CONSOLIDATION
LANDS SITUATE
DEPTFORD TOWNSHIP, GLOUCESTER COUNTY, NEW JERSEY
Beginning at a point in the Northwesterly right-of-way line of Hurffville Road
(N.J. State Highway Route 41), perpendicular to and 40.00 Feet distant from the
centerline thereof, said point being located the following described One (1)
Course from a point common corner to ▇▇▇▇ ▇▇ & ▇▇, ▇▇▇▇▇ 387.01, as shown on
hereinafter described plan, and extending; Thence
a) Along the Northwesterly right-of-way line of Hurffvi1le Road, running
parallel to and 40.00 Feet distant from the centerline thereof, North 22 Degrees
48 Minutes 40 Seconds East, a distance of 477.67 Feet to the point of beginning
and extending from said beginning' point;
Thence
1) Along the Subdivision Line of New Lot 64, Block 387.01, North 50 Degrees 46
Minutes 51 Seconds West, a distance of 584.07 Feet, to a point; Thence
2) Continuing along same, North 73 Degrees 10 Minutes 51 Seconds West, a
distance of 328.88 Feet, to a point; Thence
3) Continuing along same, South 32 Degrees 43 Minutes 13 Seconds West, a
distance of 71.11 Feet, to a point; Thence
4) Continuing along same, South 45 Degrees 53 Minutes 18 Seconds West, a
distance of 75.00 Feet, to a point; Thence
5) Continuing along same, South 51 Degrees 57 Minutes 37 Seconds West, a
distance of 50.00 Feet, to a point; Thence
6) Continuing along same, South 59 Degrees 58 Minutes 08 Seconds West, a
distance of 75.00 Feet, to a point; Thence
7) Continuing along same, South 70 Degrees 09 Minutes 57 Seconds West, a
distance of 50.00 Feet, to a point; Thence
8) Continuing along same, South 76 Degrees 16 Minutes 02 Seconds West, a
distance of 60.00 Feet, to a point; Thence
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
▇▇▇-▇▇▇-▇▇▇▇ Fax ▇▇▇-▇▇▇-▇▇▇▇ ▇▇▇▇▇▇@▇▇▇-▇.▇▇▇ ▇▇▇.▇▇▇-▇.▇▇▇
NJ Certificate of Authorization #GA276725
9) Continuing along same, North 89 Degrees 02 Minutes 05 Seconds West, a
distance of 60.00 Feet, to a point; Thence
10) Continuing along same, North 80 Degrees 32 Minutes 58 Seconds West, a
distance of 50.00 Feet, to a point; Thence
11) Continuing along same, North 67 Degrees 10 Minutes 19 Seconds West, a
distance of 50.00 Feet, to a point; Thence
12) Continuing along same, North 61 Degrees 41 Minutes 08 Seconds West, a
distance of 50.00 Feet, to a point; Thence
13) Continuing along same, North 49 Degrees 57 Minutes 16 Seconds West, a
distance of 75.00 Feet, to a point; Thence
14) Continuing along same, North 42 Degrees 56 Minutes 22 Seconds West, a
distance of 155.00 Feet, to a point; Thence
15) Continuing along same, North 47 Degrees 44 Minutes 04 Seconds West, a
distance of 100.00 Feet, to a point; Thence
16) Continuing along same, South 87 Degrees 03 Minutes 21 Seconds West, a
distance of 260.00 Feet, to a point; Thence
17) Continuing along same, North 79 Degrees 44 Minutes 01 Seconds West, a
distance of 140.00 Feet, to a point; Thence
18) Continuing along same, North 60 Degrees 41 Minutes 24 Seconds West, a
distance of 166.00 Feet, to a point; Thence
19) Continuing along same, North 44 Degrees 09 Minutes 11 Seconds West, a
distance of 140.00 Feet, to a point; Thence
20) Continuing along same, North 35 Degrees 30 Minutes 03 Seconds West, a
distance of 112.00 Feet, to a point; Thence
21) Continuing along same, North 30 Degrees 35 Minutes 52 Seconds West, a
distance of 117.00 Feet, to a point; Thence
22) Continuing along same, North 35 Degrees 46 Minutes 14 Seconds West, a
distance of 327.00 Feet, to a point in the Southeasterly division line of ▇▇▇
▇▇, ▇▇▇▇▇ 387.01; Thence
23) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01, North 55 Degrees 13 Minutes
00 Seconds East, a distance of 101.75 Feet, to a point; Thence
24) Continuing along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇
49 Minutes 00 Seconds East, a distance of 331.20 Feet, to a point; Thence
25) Continuing along same, South 76 Degrees 52 Minutes 00 Seconds East, a
distance of 591.98 Feet, to a point; Thence
26) Continuing along same, North 83 Degrees 18 Minutes 00 Seconds East, a
distance of 626.31 Feet, to a point; Thence
27) Continuing along same, South 55 Degrees 35 Minutes 00 Seconds East, a
distance of 1243.40 Feet, to a point in the Northwesterly right-of-way line of
Hurffville Road, aforesaid; Thence
28) Along the Northwesterly right-of-way line of Hurffville Road, running
parallel to and 40.00 Feet distant from the centerline thereof, South 22 Degrees
48 Minutes 40 Seconds West, a distance of 327.77 Feet, to the point and place of
beginning.
Hereinabove described "New ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇", having an area of 25.81 Ac.+ -
(including 14.76 Ac.+ - uplands), being ▇▇▇ ▇▇, ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇
387.01, is graphically shown on the plan entitled: EXHIBIT OF SUBDIVISION AND
FUTURE LOT CONSOLIDATION, PLATE 30, BLOCK 387.01, NEW ▇▇▇▇ ▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, as was prepared by Consulting Engineer
Services, dated 03/02/2006, Ces Job # 2232.
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇ ▇▇▇▇▇,
Professional Land Surveyor
New Jersey License No. 38943
Consulting engineer services
Engineers, Planners, and land Surveyors
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, ▇▇., PE: PP, CME
Chief Executive Officer
▇▇▇▇▇ ▇. ▇▇▇▇▇, PE, PP, CME
President
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, III, PE, PLS, CME
Vice President
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, PE, CME
Vice President
▇▇▇▇▇▇▇▇ ▇▇▇▇▇, PLS
Associate
March 2, 2006
LEGAL DESCRIPTION
REMAINDER OF LOT 70-BLOCK 387.01
EXHIBIT OF SUBDIVISION
AND FUTURE LOT CONSOLIDATION
LANDS SITUATE
DEPTFORD TOWNSHIP, GLOUCESTER COUNTY, NEW JERSEY
Beginning at a point in the widened Northeasterly right-of-way line of Delsea
Drive (N.J. State Highway Route 47), as is shown on the hereinafter described
plan, said point being common corner to ▇▇▇▇ ▇▇ & ▇▇, ▇▇▇▇▇ 387.01, and
extending from said point of beginning; Thence
1) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01, North 55 Degrees 13 Minutes
00 Seconds East, a distance of 354.00 Feet, to a point; Thence
2) Along the Subdivision line of New ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 46
Minutes 14 Seconds East, a distance of 327.00 Feet, to a point; Thence
3) Continuing along same, South 30 Degrees 35 Minutes 52 Seconds East, a
distance of 117.00 Feet, to a point; Thence
4) Continuing along same, South 35 Degrees 30 Minutes 03 Seconds East, a
distance of 112.00 Feet, to a point; Thence
5) Continuing along same, South 44 Degrees 09 Minutes 11 Seconds East, a
distance of 140.00 Feet, to a point; Thence
6) Continuing along same, South 60 Degrees 41 Minutes 24 Seconds East, a
distance of 166.00 Feet, to a point; Thence
7) Continuing along same, South 79 Degrees 44 Minutes 01 Seconds East, a
distance of 140.00 Feet, to a point; Thence
8) Continuing along same, North 87 Degrees 03 Minutes 21 Seconds East, a
distance of 260.00 Feet, to a point; Thence
9) Continuing along same, South 47 Degrees 44 Minutes 04 Seconds East, a
distance of 100.00 Feet, to a point; Thence
10) Continuing along same, South 42 Degrees 56 Minutes 22 Seconds East, a
distance of 155.00 Feet, to a point; Thence
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
▇▇▇-▇▇▇-▇▇▇▇ Fax ▇▇▇-▇▇▇-▇▇▇▇ ▇▇▇▇▇▇@▇▇▇-▇.▇▇▇ ▇▇▇.▇▇▇-▇.▇▇▇
NJ Certificate of Authorization #GA276725
11) Continuing along same, South 49 Degrees 57 Minutes 16 Seconds East, a
distance of 75.00 Feet, to a point; Thence
12) Continuing along same, South 61 Degrees 41 Minutes 08 Seconds East, a
distance of 50.00 Feet, to a point; Thence
13) Continuing along same, South 67 Degrees 10 Minutes 19 Seconds East, a
distance of 50.00 Feet, to a point; Thence
14) Continuing along same, South 80 Degrees 32 Minutes 58 Seconds East, a
distance of 50.00 Feet, to a point; Thence
15) Continuing along same, South 89 Degrees 02 Minutes 05 Seconds East, a
distance of 60.00 Feet, to a point; Thence
16) Continuing along same, North 76 Degrees 16 Minutes 02 Seconds East, a
distance of 60.00 Feet, to a point; Thence
17) Continuing along same, North 70 Degrees 09 Minutes 57 Seconds East, a
distance of 50.00 Feet, to a point; Thence
18) Continuing along same, North 59 Degrees 58 Minutes 08 Seconds East, a
distance of 75.00 Feet, to a point; Thence
19) Continuing along same, North 51 Degrees 57 Minutes 37 Seconds East, a
distance of 50.00 Feet, to a point; Thence
20) Continuing along same, North 45 Degrees 53 Minutes 18 Seconds East, a
distance of 75.00 Feet, to a point; Thence
21) Continuing along same, North 32 Degrees 43 Minutes 13 Seconds East, a
distance of 71.11 Feet, to a point; Thence
22) Continuing along same, South 73 Degrees 10 Minutes 51 Seconds East, a
distance of 307.66 Feet, to a point in the division line of ▇▇▇ ▇▇, ▇▇▇▇▇
387.01; Thence
23) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 47 Minutes
49 Seconds West, a distance of 832.22 Feet, to a point; Thence
24) Continuing along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇
27 Minutes 11 Seconds East, a distance of 625.84 Feet, to a point in the
division line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01; Thence
25) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 32 Minutes
33 Seconds West, a distance of 2.32 Feet, to a point; Thence
26) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 38 Minutes
49 Seconds West, a distance of 290.04 Feet, to a point in the division line of
▇▇▇ ▇▇, ▇▇▇▇▇ 387.01; Thence
27) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 36 Minutes
28 Seconds West, a distance of 518.74 Feet, to a point in the Northeasterly
right-of-way line of Delsea Drive (N.J. State Highway Route 47), perpendicular
to and 33.00 Feet distant from the centerline thereof; Thence
28) Along the Northeasterly right-of-way line of Delsea Drive, running parallel
to and 33.00 Feet distant from the centerline thereof, North 33 Degrees 45
Minutes 08 Seconds West, a distance of 1525.75 Feet, to a point in the division
line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01; Thence
29) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇,▇▇, ▇▇▇▇▇ ▇▇ Degrees 14 Minutes
52 Seconds East, a distance of 250.00 Feet, to a point; Thence
30) Continuing along same, North 33 Degrees 45 Minutes 08 Seconds West, a
distance of 683.30 Feet, to a point; Thence
31) Continuing along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇
14 Minutes 52 Seconds West, a distance of 110.00 Feet, to a point common corner
to ▇▇▇▇ ▇▇ & ▇▇, ▇▇▇▇▇ 387.01 and in the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01;
Thence
32) Along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ 387.01, North 45 Degrees 03 Minutes
38 Seconds West, a distance of 203.96 Feet, to a point; Thence
33) Continuing along the division line of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇, ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇
14 Minutes 52 Seconds West, a distance of 100.01 Feet, to a point in the
Northeasterly right-of-way line of Delsea Drive (N.J. State Highway Route 47),
perpendicular to and 33.00 Feet distant from the centerline thereof; Thence
34) Along the Northeasterly right-of-way line of Delsea Drive, running parallel
to and 33.00 Feet distant from the centerline thereof, North 33 Degrees 45
Minutes 08 Seconds West, a distance of 210.00 Feet, to a point; Thence
35) North 56 Degrees 14 Minutes 52 Seconds East, a distance of 7.95 Feet, to a
point; Thence
36) Still along the Northeasterly right-of-way line of Delsea Drive, running
along a curve curving to the right, in a Northwesterly direction, having a
radius of 17,185.00 Feet, with an interior angle of 00 Degrees 19 Minutes 46
Seconds, and an Arc length of 98.77 Feet, to the point and place of beginning.
Hereinabove described "Remainder of ▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇.▇▇ ", containing 41.44
acres- +/-, is graphically shown on the plan entitled: EXHIBIT OF SUBDIVISION
AND FUTURE LOT CONSOLIDATION, PLATE 30, BLOCK 387.01, NEW ▇▇▇▇ ▇▇ ▇▇▇ ▇▇,
▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, as was prepared by Consulting
Engineer Services, dated 03/02/2006, Ces Job # 2232.
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Professional Land Surveyor
New Jersey License No. 38943
GIT/REP-3
(11/04)
State of New Jersey
SELLER'S RESIDENCY CERTIFICATION/EXEMPTION
(C.55, P.L. 2004)
(Please Print or Type)
SELLER(S) INFORMATION (See Instructions, Page 2)
Name(s)
▇▇▇▇▇▇▇ Landfill, Inc.
Current Resident Address:
Street: ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇
▇▇▇▇, ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
PROPERTY INFORMATION (Brief Property Description)
Block(s) Lot(s) Qualifier
387.01 64 and 70
Street Address:
▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇
▇▇▇▇, ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ Code
Deptford NJ
Seller's Percentage of Ownership Consideration Closing Date
100% $1.00
SELLER ASSURANCES (Check the Appropriate Box)
1. ( ) I am a resident taxpayer of the State of New Jersey pursuant to N.J.S.A.
54A:1-1 et seq. and will file a resident gross income tax return and pay any
applicable taxes on any gain or income from the disposition of this property.
2. ( ) The real property being sold or transferred is used exclusively as my
principal residence within the meaning of section 121 of the federal Internal
Revenue Code of 1986, 26 U.S.C. s. 121.
3. ( ) I am a mortgagor conveying the mortgaged property to a mortgagee in
foreclosure or in a transfer in lieu of foreclosure with no additional
consideration.
4. ( ) Seller, transferor or transferee is an agency or authority of the United
States of America, an agency or authority of the State of New Jersey, the
Federal National Mortgage Association, the Federal Home Loan Mortgage
Corporation, the Government National Mortgage Association, or a private mortgage
insurance company.
5. ( ) Seller is not individual, estate or trust and as such not required to
make an estimated payment pursuant to N.J.S.A.54A:1-1 et seq.
6. (X) The total consideration for the property is $1,000 or less and as such,
the seller is not required to make an estimated payment pursuant to N.J.S.A.
54A:5-1-1 et seq.
7. ( ) The gain from the sale will not be recognized for Federal income tax
purposes under I.R.C. Section 721, 1031, 1033 or is a cemetery plot. (CIRCLE THE
APPLICABLE SECTION). If such section does not ultimately apply to this
transaction, the seller acknowledges the obligation to file a New Jersey income
tax return for the year of the sale.
SELLER(S) DECLARATION
The undersigned understands that this declaration and its contents may be
disclosed or provided to the New Jersey Division of Taxation and that any false
statement contained herein could be punished by fine, imprisonment, or both. I
furthermore declare that I have examined this declaration and, to the best of my
knowledge and belief, it is true, correct and complete.
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Date Signature
(Seller) Please indicate if Power of Attorney
or Attorney in Fact
Date Signature
(Seller) Please indicate if Power of Attorney
or Attorney in Fact
Seller's Residency Certification/Exemption Instructions
This form is to be completed by individuals, estates, trusts or any other entity
selling or transferring property in New Jersey not subject to the Gross Income
Tax estimated payment requirements under C55, P.L. 2004.
Name(s): Name of seller(s). If more than one owner separate forms must be used
except for Husband & Wife that file their income tax returns jointly.
Address: Seller(s) primary residence or place of business. Do not use the
address of the property being sold. Unless a new residence (permanent place of
abode, domicile) has been established in New Jersey and said new residence is
listed under seller(s) information, the seller(s) is considered a nonresident.
Part-year residents will be considered nonresidents.
Nonresident seller(s) will be required to make an estimated Gross Income Tax
payment if they do not meet any of the seller(s) assurances.
Property Information: Information as listed on deed of property being sold.
Percentage of Ownership: If there is more than one owner list sellers % of
ownership.
Consideration: "Consideration" means in the case of any deed, the actual amount
of money and the monetary value of any other thing of value constituting the
entire compensation paid or to be paid for the transfer of title to the lands,
tenements or other realty, including the remaining amount of any prior mortgage
to which the transfer is subject or which is assumed and agreed to be paid by
the grantee and any other lien or encumbrance not paid, satisfied or removed in
connection with the transfer of title. If there is more than one owner, indicate
seller's portion of total consideration received. If the total consideration for
the property is $1,000 or less complete the Seller's Residency
Certification/Exemption form GIT/REP-3 and check box 6 under Seller's
Assurances.
Seller Assurances: If you meet one of the seven criteria listed you are not
required to make a tax payment at this time. Check which box is appropriate to
your situation.
Persons claiming an exemption under block #2 must be claiming an income/gain
exclusion on their federal return for the property being sold within the meaning
of .121 of the Internal Revenue Code of 1986.
Signature: Seller(s) must sign and date the declaration. If the seller's
representative is signing the declaration a copy of the power of attorney form
or letter signed by the seller granting this authority must be attached.
All information requested on this form must be completed. Failure to complete
the form in its entirety will result in the deed not being recorded.
This form must be completed at the time of closing and given to the buyer or the
buyer's attorney.
The buyer or buyer's attorney must submit the original Seller's Residency
Certification/Exemption (GIT/REP-3) to the county clerk at the time of recording
the deed. Failure to submit the Seller's Residency Certification/Exemption
(GIT/REP-3) or Nonresident Seller's Tax Declaration (GIT/REP-1) or a Nonresident
Seller's Tax Prepayment Receipt (GIT/REP-2) will result in the deed not being
recorded.
The county clerk will attach this form to the deed when recording the deed.
Additional information regarding the Gross Income Tax estimated payment
requirements on the sale of real estate can be found on the Division of
Taxation's web page at ▇▇▇.▇▇▇▇▇.▇▇.▇▇/▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇.
RTF-1 (Rev. 8/2004)
STATE OF NEW JERSEY
AFFIDAVIT OF CONSIDERATION FOR USE BY SELLER
(Chapter 49, P.L 1968, as amended through Chapter 66, P.L. 2004)
To be recorded with deed pursuant to Chapter 49, P.L. 1968, as amended by
Chapter 308, P.L. 1991 (N.J.S.A 46:15-5 et seq.)
BEFORE COMPLETING THIS AFFIDAVIT, PLEASE READ THE INSTURCTIONS ON THE REVERSE
SIDE OF THIS FORM
STATE OF NEW JERSEY FOR RECORDERS USE ONLY
Consideration $
}ss. RTF paid by seller $
Date By
*Use symbol "C" to indicate
that fee is exclusively for county use.
COUNTY OF
(1) PARTY OR LEGAL REPRESENTATIVE (See Instructions # 3 and #4 on reverse side)
Deponent, , being duly sworn according to law upon his/her oath,
(Name)
deposes and says that he/she is the in a deed dated transferring
(Grantor, Grantee, Legal Representative, Corporate Officer, Officer of Title Co
Lending Institution, etc.)
real property identified as Block number 387 .01 Lot number 64 and 70 located
at Deptford Township, Gloucester County NJ and annexed thereto.
(Street Address, Municipality, County)
(2) CONSIDERATION $ 1.00 (See Instructions #1 and #5 on reverse side)
(3) FULL EXEMPTION FROM FEE (See Instruction #6 on reverse side)
Deponent states that this deed transaction Is fully exempt from the Realty
Transfer Fee imposed by C. 49, P.L 1968, as amended through Chapter 66, P.L.
2004, for the following reason(s). Mere reference to exemption symbol is
insufficient. Explain in detail.
A - For consideration of less than $100.00
(4).PARTIAL EXEMPT10N FROM FEE (See Instruction #7 on reverse side)
PARTIAL EXEMPTION FROM FEE EXEMPTION FROM FEE (See Instructions #7 on reverse
side)
NOTE: All boxes below apply to grantor(s) only. ALL BOXES IN APPROPRIATE
CATEGORY MUST BE CHECKED. Failure to do so will void claim for partial
exemption.
Deponent claims that this deed transaction is exempt from State portions of the
Basic Fee, Supplemental Fee, and General Purpose Fee, as applicable, imposed by
C. 176, P.L 1975, C. 113, P.L. 2004 and C. 66, P.L 2004 for the following
reason(s);
A. SENIOR CITIZEN Grantor(s) ( ) 62 years of age or over * (See instructions
# 7 on reverse side for A or B)
B. BLIND PERSON Grantor(s) ( ) legally blind or;*
DISABLED PERSON Grantor(s) ( ) permanently and totally disabled
( ) Receiving disability payments ( ) Not gainfully employed*
Senior citizens, blind or disabled persons must also meet all of the following
criteria.
( ) Owned and occupied by grantor(s) at time of sale.
( ) Resident of the State of New Jersey.
( ) One or two-family residential premises.
( ) Owners as joint tenants must all qualify.
* IN THE CASE OF HUSBAND AND WIFE, ONLY ONE GRANTOR NEEDS TO QUALIFY IF OWNED AS
TENANTS BY THE ENTIRETY.
C. LOW AND MODERATE INCOME HOUSING (See Instruction #7 on reverse side)
( ) Affordable according to H.U.D. standards.
( ) Reserved for occupancy.
( ) Meets income requirements of region.
( ) Subject to resale controls.
(5) NEW CONSTRUCTION (See Instructions #8 and #10 on reverse side)
( ) Entirely new improvement.
( ) Not previously occupied.
( ) Not previously used for any purpose.
( ) "NEW CONSTRUCTION" printed clearly at the top of the first page of the deed.
Deponent makes this Affidavit to induce county clerk or register of deeds to
record the deed and accept the fee submitted herewith in accordance with the
provisions of Chapter 49, P.L. 1968,as amended through Chapter 66, P.L. 2004.
Subscribed and sworn to before me
this 18th day of April,2006
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇ Landfill, Inc.
Signature of Deponent Grantor Name
Deponent Address Grantor Address at Time of Sale
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
A Notary Public of New Jersey Name/Company of Settlement Officer
My Commission Expires April 6, 2008
FOR OFFICIAL USE ONLY
Instrument Number County
Deed Number Book Page
Deed Dated Date Recorded
The Director of the Division of Taxation in the Department of the Treasury has
prescribed this form, as required by law.
This form may not be altered or amended without the approval of the Director.
For further information on the Realty Transfer Fee or to print a copy of this
Affidavit, visit the Division of Taxation website at
▇▇▇.▇▇▇▇▇.▇▇.▇▇/▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇/▇▇▇/▇▇▇▇▇▇▇▇.▇▇▇.
INSTRUCTIONS FOR FILING FORM RTF-1, AFFIDAVIT OF CONSIDERATION FOR USE BY SELLER
1. STATEMENT OF CONSIDERATION AND REALTY TRANSFER FEE PAYMENT ARE PREREQUISITES
FOR DEED RECORDING
No county recording officer shall record any deed evidencing transfer of
title to real property unless (a) the consideration is recited in the deed, or
(b) an Affidavit by one or more of the parties named in the deed or by their
legal representatives declaring the consideration is annexed for recording with
the deed, and (c) for conveyances and transfers of property for which the total
consideration recited in the deed is not in excess of $350,000, a fee is
remitted at the rate of $2.00/$500 of consideration or fractional part thereof
not in excess of $150,000; $3.35/$500 of consideration or fractional part
thereof in excess of $150,000 but not in excess of $200,000; and $3.90/$500 of
consideration or fractional part thereof in excess of $200,000. For transfers of
property for which the total consideration recited in the deed is in excess of
$350,000, a fee is remitted at the rate of $2.90/$500 of consideration or
fractional part not in excess of $150,000; $4.25/$500 of consideration or
fractional part thereof in excess of $150,000 but not in excess of $200,000;
$4.80/$500 of consideration or fractional part thereof in excess of $200,OOO but
not in excess of $550,000; $5.30/$500 of consideration or fractional part
thereof in excess of $550,000 but not in excess of $850,000; $5.80/$500 of
consideration or fractional part thereof in excess of $850,00 but not in
$1,000,000; and $6.05/$500 of consideration or fractional part thereof in excess
of $1,000,000, which fee shall be paid in addition to the recording fees imposed
by Chapter 123, P.L 1965, Section 2 (C. 22A:4-4.1) as amended by Chapter 370,
P.L. 2001, through Chapter 66, P.L 2004, which fee shall be paid to the county
recording officer at the time the deed is offered for recording/transfer. Of
these fees, $.75/$500 of consideration or fractional part in excess of $150,000
paid to the State Treasurer is credited to the Neighborhood Preservation
Nonlapsing Revolving Fund.
In addition to all other fees imposed under ▇▇▇▇▇▇▇ ▇▇, ▇.▇ ▇▇▇▇ (▇. 46:15-
5 et seq.) as amended through Chapter 66, P.L 2004, there is imposed upon the
grantee of a deed for the transfer of real property zoned for residential use,
whether improved or not, for consideration in excess of $1,000,000 recited in
the deed a fee in an amount equal to 1 percent of the entire amount of such
consideration, which fee shall be collected by the county recording officer at
the time the deed is offered for recording/transfer. Filing of RTF-1EE is
required.
2. WHEN AFFIDAVIT MUST BE ANNEXED TO DEED
This Affidavit must be annexed to and recorded with the deed when entire
consideration is not recited in deed or the acknowledgement or proof of the
execution, when exemption from the fee is claimed by grantor, and for transfers
of "new construction." (See Instruction #8 below.) Grantees or buyers involved
in the transfer of property zoned for residential use, whether improved or not,
for entire consideration in excess of $1,000,000, must file an Affidavit of
Consideration for Use by Buyer, form RTF-1EE.
3. LEGAL REPRESENTATIVE-"Legal representative" is to be interpreted broadly to
include any person actively and responsibly participating in the transaction,
such as, but not limited to: an attorney representing one of the parties; a
closing officer of a title company or lending institution participating in the
transaction; a holder of power of attorney from grantor or grantee.
4. OFFICER OF CORPORATE GRANTOR OR CORPORATE GRANTEE/OFFICER OF TITLE COMPANY OR
LENDING INSTITUTION
Where a deponent is an officer of corporate grantor or grantee, state the
name of corporation and officer's title or where a deponent is a closing officer
of a title company or lending institution participating in the transaction,
state the name of the company or institution and officer's title.
5. CONSIDERATION-"Consideration" means in the case of any deed, the actual
amount of money and the monetary value of any other thing of value constituting
the entire compensation paid or to be paid for the transfer of title to the
lands, tenements or other realty, including the remaining amount of any prior
mortgage to which the transfer is subject or which is assumed and agreed to be
paid by the Grantee and any other lien or encumbrance not paid, satisfied or
removed in connection with the transfer of title. (C. 49, P.L 1968, Section 1,
as amended.)
6. FULL EXEMPTION FROM THE REALTY TRANSFER FEE (GRANTOR/GRANTEE)
The fee imposed by this Act shall not apply to a deed: (a) For
consideration of less than $100; (b) By or to the United States of America, this
State, or any instrumentality, agency or subdivision; (c) Solely in order to
provide or release security for a debtor obligation; (d) Which confirms or
corrects a deed previously recorded; (e) On a sale for delinquent taxes or
assessments; (f) On partition; (g) By a receiver, trustee in bankruptcy or
liquidation, or assignee for the benefit of creditors; (h) Eligible to be
recorded as an "ancient deed" pursuant to R.S. 46:16-7; (i) Acknowledged or
proved on or before July 3, 1968; (j) Between husband and wife, or parent and
child; (k) Conveying a cemetery lot or plot; (I) In specific performance of a
final judgment; (m) Releasing a right of reversion; (n) Previously recorded in
another county and full Realty Transfer Fee paid or accounted for as evidenced
by written instrument, attested to by the grantee and acknowledged by the county
recording officer of the county of such prior recording, specifying the county,
book, page, date of prior recording, and amount of Realty Transfer Fee
previously paid; (o) By an executor or administrator of a decedent to a devisee
or heir to effect distribution of the decedent's estate in accordance with the
provisions of the decedent's will or the intestate laws of this State; (p)
Recorded within 90 days following the entry of a divorce decree which dissolves
the marriage between the grantor and grantee; (q) Issued by a cooperative
corporation, as part of a conversion of all of the assets of the cooperative
corporation into a condominium, to a shareholder upon the surrender by the
shareholder of all of the shareholder's stock in the cooperative corporation and
the proprietary lease entitling the shareholder to exclusive occupancy of a
portion of the property owned by the corporation.
7. PARTIAL EXEMPTION FROM THE REALTY TRANSFER FEE (C. 176, P.L.1975; C.113, P.L.
2003; C. 66 P.L. 2004)
The following transfers of title to real property shall be exempt from
State portions of the Basic Fee, Supplemental Fee, and General Purpose Fee, as
applicable: 1. The sale of any one or two-family residential premises which are
owned and occupied by a senior citizen, blind person, or disabled person who is
the seller in such transaction; provided, however, that except in the instance
of a husband and wife no exemption shall be allowed if the property being sold
is owned as joint tenants and one or more of the owners is not a senior citizen,
blind person, or disabled person; 2. The sale of Low and Moderate Income Housing
conforming to the requirements as established by this Act.
For the purposes of this Act, the following definitions shall apply:
"Blind person" means a person whose vision in his better eye with proper
correction does not exceed 20/200 as measured by the Snellen chart or a person
who has a field defect in his better eye with proper correction in which the
peripheral field has contracted to such an extent that the widest diameter of
visual field subtends an angular distance no greater than 20 degrees.
"Disabled person" means any resident of this State who is permanently and
totally disabled, unable to engage in gainful employment, and receiving
disability benefits or any other compensation under any federal or State law.
"Senior citizen" means any resident of this State of the age of 62 or over.
"Low and Moderate Income Housing" means any residential premises, or part
thereof, affordable according to Federal Department of Housing and Urban
Development or other recognized standards for home ownership and rental costs
occupied or reserved for occupancy by households with a gross Income equal to
80% or less of the median gross household income for households of the same size
within the housing region in which the housing is located, but shall include
only those residential premises subject to resale controls pursuant to
contractual guarantees.
"Resident of the State of New Jersey" means any claimant who is legally
domiciled in this State when the transfer of the subject property is made.
Domicile is what the claimant regards as the permanent home to which he intends
to return after a period of absence. Proofs of domicile include a New Jersey
voter registration, motor vehicle registration and driver's license, and
resident tax return filing.
8. TRANSFERS OF NEW CONSTRUCTION
"New construction" means any conveyance or transfer of property upon which
there is an entirely new improvement not previously occupied or used for any
purpose. On transfers of new construction, the words "NEW CONSTRUCTION" shall be
printed clearly at the top of the first page of the deed, and an Affidavit by
the grantor stating that the transfer is of property upon which there is new
construction shall be appended to the deed.
9. REALTY TRANSFER FEE IS A FEE IN ADDITION TO OTHER RECORDING FEES
The fee imposed under Chapter 49, P.L. 1968, as amended, is in addition to
the usual recording fees imposed under ▇▇▇▇▇▇▇ ▇▇▇, ▇.▇. ▇▇▇▇, ▇▇▇▇▇▇▇ ▇ (▇.
▇▇▇: 4-4.1). The county recording officer is required to collect the Realty
Transfer Fee at the time the deed is offered for recording/transfer.
10. PENALTY FOR WILLFUL FALSIFICATION OF CONSIDERATION AND TRANSFERS OF NEW
CONSTRUCTION
Any person who knowingly falsifies the consideration recited in a deed or
in the proof or acknowledgement of the execution of a deed or in an affidavit
annexed to a deed declaring the consideration therefor or a declaration in an
affidavit that a transfer is exempt from recording fee is guilty of a crime of
the fourth degree (Chapter 308, P.L. 1991, effective June 1, 1992). Grantors
conveying title of new construction who fail to subscribe and append to the deed
an affidavit to that effect in accordance with the provisions of subsection c.
of section 2 of Chapter 49, P.L. 1968(C.46:15-6) is guilty of a disorderly
persons offense. The Division of Taxation is entitled to review the Fees
collected pursuant to the State Uniform Procedure Law. The Director of the
Division of Taxation is authorized to make deficiency assessments to taxpayers
who have, intentionally or mistakenly, underestimated the consideration or sales
price of properties on the Affidavit of Consideration attached to deeds and upon
which the Realty Transfer Fee is based.
EXHIBIT B
Map of "Drainage Easement Area"