Pursuant to N.J.S.A. 17:36-8 et seq., no insurance
company shall make payment to an insured of any claim in excess of
$2,500 for fire damage on any real property located within the Borough
of Runnemede pursuant to any fire insurance policy issued or renewed
after the adoption of this article and after filing this article with
the State Commissioner of Insurance until such time as all anticipated
demolition costs and all taxes, assessments and all other municipal
liens due and payable, pursuant to N.J.S.A. 54:5-12, and appearing
on a certificate of search shall have been paid either by the owner
of such real property or by the insurance company insuring the property
owner.
The official certificate of search, as hereinabove
provided for, may be altered by the bonded official responsible for
preparing such certificates in order to correct any errors or omissions
or to add any municipal liens or related charges due and payable subsequent
to the preparation of the official certificate.
A certified copy of this article shall be filed
by the Borough Clerk with the New Jersey Commissioner of Insurance.