The Brick Township council gave their stamp of approval to two legal settlement agreements Monday night.
In one settlement, Route 88 Associates LLC will pay the township $122,500 to redeem tax sale certificates and premiums associated with a tax sale of the company's building.
Township Attorney Jean Cipriani said the township sold tax sale certificates on the building at 1861 Route 88. Records show the tax sale took place Nov. 21, 2011.
After that date, Route 88 Associates sued the township, Cipriani said, after it was claimed the company was not notified properly of the tax sale. Records show liens for back taxes had been placed on the building starting in 2009.
In all, the company will pay $60,316.98 to redeem the tax sale certificates and $62,183.02 in premiums.
"It's a $60,000 plus for the township over what we would have received under the superior court's decision," said Cipriani.
The township also settled a minor case with Jersey Central Power & Light.
The utility sued the township in small claims court after a township vehicle struck one of its poles during the blizzard of 2010.
Under the terms of a settlement, the township will pay JCP&L $1,250.
