AGREEMENT OF SALE
New Jersey American Water looks forward to reaching a mutually agreeable asset purchase agreement (APA) with the Borough based on the mark-up of the APA provided with this Proposal, and consistent with the other terms of its Proposal. The final APA would incorporate the negotiation of various terms and conditions identified in the mark-up, the Proposal, and, if New Jersey American Water is selected, additional issues that may arise following the award.
Please note that while New Jersey American Water received the Borough’s addendum to the RFB, it did not have the opportunity to ask questions on the addendum and the additional information included in the addendum, in particular the structure of the relationship between the Borough, the Somerset Raritan Valley Sewerage Authority, and the Buyer. This structure will impact the APA, so while the mark-up of the APA includes comments on that issue, further discussion may be necessary. New Jersey American Water’s experience working with municipalities to bring the concept water and wastewater utility acquisition to fruition gives us confidence in our ability to meet the needs of the Borough in this transaction. Please see Appendix D for the Draft Agreement of Sale Markup.