Somerset County Board of County Commissioners Regular Meeting Agenda December 2023
Performance Surety Released for Old York Road Work
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Description
Somerset County approved the release of a cash performance surety to Walters-Cornerstone Development, LLC for road work on Old York Road, holding 5% as a 2-year maintenance guarantee. The total disbursement is not to exceed $26,408.74.
Contract Details
Contract Amount
$27,698.88 (less $1,384.94 withheld), plus $94.80 accrued interest; total not to exceed $26,408.74
Vendor
WALTERS-CORNERSTONE DEVELOPMENT LLC
Agency
Somerset County, NJ
Contract Type
CONSTRUCTION
Document Date
December 12, 2023
Contract Term
2 years (maintenance guarantee held)
Renewal Date
2025-12-12
Renewal Info
5% of the total improvement cost ($1,384.94) held as maintenance guarantee for 2 years.
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