[Amended 12-10-1981 by Ord. No. 47-81; 12-10-2009 by Ord. No. 2009-35]
Pursuant to N.J.S.A. 17:36-8 et seq., no insurance company authorized to issue fire insurance policies in the State of New Jersey shall pay to a claimant any claim in excess of $2,500 for fire damages on any real property located within the Township of Marlboro pursuant to any fire insurance policy issued or renewed after the adoption of this chapter and the filing of this chapter with the State Commissioner of Insurance, until such time as:
A. 
All taxes and assessments and all other municipal liens or charges levied and assessed and due and payable appearing on the official certificate of search for municipal liens pursuant to N.J.S.A. 54:5-12 shall have been paid either by the owner of such real property or by the insurance company; and
B. 
The insured person submits an official certificate, on a form prescribed and certified by the Director of Community Improvements and the Tax Collector of the municipality, that demolition is not required or that the costs of demolition or anticipated demolition have been paid; or
C. 
The municipality submits to the insurance company a copy of a resolution adopted pursuant to this article.
If a demolition has not yet occurred on the date of receipt of a request for an official certificate of search pursuant to this section, the insurer shall provide on that certificate an estimate of the anticipated costs of demolition. The insured on notice shall pay the anticipated cost of demolition to the municipality, which shall hold the funds in an interest-bearing escrow account in a state or federally charted bank, savings banks or savings-and-loan association in this state.
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 issue a draft payable to the court of record to be held by the court in an interest-bearing escrow account in the state or federally chartered bank, savings bank or savings-and-loan association in the state in an amount totaling 75% of the full amount of the lien or charge being contested, but not to exceed the proceeds payable under its insurance policy, and the insurance company shall issue a draft payable to the municipality for the remaining 25% of the lien or charge being contested with the full amount paid by the insurance company to the court and the municipality not to exceed the proceeds payable under its insurance policy pending termination of all proceedings, at which time such moneys and all interest accruing thereon at a rate paid on interest-bearing accounts in state or federally chartered banks, savings banks or savings-and-loan associations to the state shall be disbursed in accordance with the final order or judgment of the court.
The Township Council of the Township of Marlboro may by resolution enter into an agreement with the owner of any fire-damaged property situated in the Township of Marlboro 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 Revised Statutes of New Jersey or for the payment in full of any anticipated costs of demolition by installment, if the Mayor and Council is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property.