[HISTORY: Adopted by the Mayor and Council
of the Borough of Wanaque: Article I, 4-25-1979 as Ord. No. 5-0-79.
Amendments noted where applicable.]
[Adopted 4-25-1979 as Ord. No. 5-0-79]
The Mayor and Council of the Borough of Wanaque hereby implements the provisions of Senate Bill No. 983, otherwise known as Chapter 184 of the Laws of 1978 N.J.S.A. (17:36-8 to 17:36-13) so as to specifically prohibit the payment to a claimant by any insurance company of any claim in excess of $2,500 for fire damages on any real property located within the Borough of Wanaque pursuant to any fire insurance policy issued or renewed after the adoption of the within chapter and after filing of this chapter with the State Commissioner of Insurance, until such time as all taxes and assessments and all other municipal liens or charges due and payable appearing on the official certificate of search shall have been paid, either by the owner of such real property or by the insurance company pursuant to the provisions of § 76-2 herein, or the municipality submits to the insurance company a copy of a resolution adopted pursuant to § 76-3 herein.
Unless a resolution is received in accordance with § 76-3 herein by the insurance company writing fire insurance policies in the Borough of Wanaque, such insurance company is hereby authorized and required prior to the payment of any claims for fire damages in excess of $2,500 to pay to the municipality the amount of the liens appearing on the official certificate and such other recorded liens or related charges as may be certified to the insurance company; provided, however, that if an appeal is taken on the amount of any lien or charge other than an appeal on the assessed valuation of real property pursuant to N.J.S.A. 54:3-21, the insurance company shall withhold 75% of the full amount of the lien or charge being contested pending termination of all proceedings, at which time such moneys and all interest accruing thereon, at a rate paid on interest-bearing accounts in banking institutions or savings and loan associations in the state, shall be disbursed in accordance with the final order or judgment of the court.
The governing body of the Borough of Wanaque, in its discretion and option, may enter into an agreement with the owner of any fire-damaged property to pay in full all delinquent taxes, assessments or other municipal liens by installments pursuant to N.J.S.A. 54:5-19 or for the redemption of a tax sale lien by installment payments pursuant to Article 7 of Chapter 5 of Title 54 of the New Jersey Statutes Annotated, if the governing body of the municipality is satisfied that the claim for fire damages is to be used to restore or improve the damaged property. The insurance company receiving a certified copy of a resolution of agreement from the governing body of the Borough of Wanaque is authorized to make full payment on the claim to the insured person under the provisions of this section.
