Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Services Contract - Title Searches and Review
Purpose: Title Searches and Review of Properties in the 2015 In Rem Tax Foreclosures
Entity Name: Fortune Title Agency, Inc.
Entity Address: 39 Woodland Rd., Roseland, NJ 07068
Contract Amount: Not to exceed $70,000.00
Funding Source: City of Newark Budget, Law Department
Contract Period: One (1) year from issuance of Notice to Proceed
Contract Basis: ( ) Bid ( ) State Vendor (X) Prof. Ser. ( ) EUS
( ) Fair & Open (X) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
body
WHEREAS, the City of Newark, Department of Law ("City") has determined that there is a need for professional services contracts for Title Searches and Review of Properties on the City of Newark's, 2015 In Rem Tax Foreclosure List. Title review of these properties is necessary in order to commence In Rem Foreclosure proceedings in the Superior Court of New Jersey; and
WHEREAS, the Mayor and the Corporation Counsel desire to enter into contract with a vendor who has exhibited the necessary qualifications and capacity to meet the needs of the City in connection with the 2015 In Rem Tax Foreclosure proceedings and which are willing to provide the specified services at mutually agreeable prices; and
WHEREAS, the services to be provided are professional services pursuant to N.J.S.A. 40A:11-5(1)(a)(i) because these services are to be rendered by a person or persons licensed by the State of New Jersey as title officers; and
WHEREAS, the firm, Fortune Title Agency, Inc., 39 Woodland Road, Roseland, New Jersey 07068, is a title company with specific expertise in providing title records, title review and related title search services involving In Rem Foreclosures; and
WHEREAS, the Mayor an...
Click here for full text