No insurance company shall pay any claim in excess of $2,500 for fire damage on any real property located within the Township of West Milford pursuant to any fire insurance policy issued or renewed after the adoption of this chapter and after its filing with the State Commissioner of Insurance, except as follows:
A.
The insured individual or entity submits an official certificate of search for municipal liens pursuant to N.J.S.A. 54:5-12 certifying that all taxes, assessments or other municipal liens or charges, levied and assessed and due and payable against said property, have been paid; and
B.
The insured person or entity has submitted a certification acknowledged by a notary public commissioned in the State of New Jersey that all demolition costs have been paid or that demolition is not required; or
C.
The Township provides the insurer with a certified resolution pursuant to which the Township has entered into an agreement with the owner of the 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 for the redemption of any tax sale lien by installment payments pursuant to N.J.S.A. 54:5-65 et seq., or the payment by installment of any anticipated costs of demolition.