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 Manchester 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,
assessments and all other municipal liens or charges 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; or
B. The insurance
company receives an official certificate, on a form approved by the
Township Council and certified by the Clerk, stating that there is
no demolition required on the property or, alternately, that the costs
of demolition have been paid. If the demolition has not yet occurred
on the date of receipt by the Township of a request for execution
of the certificate required by this section, the insured shall provide
on that certificate an estimate of the anticipated cost of demolition
to the Township, which shall hold the funds in an interest-bearing
escrow account in a state or federally chartered bank, savings bank
or savings and loan association in this state as a guarantee that
the demolition will be accomplished according to law. Any request
pursuant to this section for an official certificate of search for
municipal liens shall specify that the search concerns fire-damaged
property; or
C. The municipality submits to the insurance company a certified copy of a resolution adopted pursuant to §
173-2 of this chapter. In the event of such a resolution, a certified copy of said resolution shall be sent to the insurance company authorizing the insurance company to make full payment on the claim to the insured.