[HISTORY: Adopted by the City Council of
the City of Bridgeton 7-21-1987 by Ord. No. 87-3; amended in its entirety 5-6-2014 by Ord. No.
13-20. Subsequent amendments noted where applicable.]
A.
No insurance company authorized to issue fire insurance policies
in the State of New Jersey shall pay any claims for fire damages in
excess of $2,500 on any real property in the City of Bridgeton unless:
B.
Any request for an official certificate of search, pursuant to this
chapter, shall specify that the search concerns fire-damaged property.
C.
All search fees incurred, pursuant to the search, shall be the responsibility
of the owner of the fire-damaged property.
D.
The Construction Code official for the City of Bridgeton shall file,
on a form prescribed by the City, a statement with the City officer
authorized to issue an official certificate of search of municipal
liens and other charges of the anticipated costs of demolition.
A.
Unless a resolution is received from the municipality authorizing an installment agreement, pursuant to § 158-3, with the real property owner to pay liens, charges and anticipated demolition costs, an insurance company writing fire insurance policies in the City of Bridgeton is required, prior to payment of any claims in excess of $2,500, to pay the amount of the anticipated demolition costs to the City, which shall hold said funds in an interest-bearing escrow account in a state or federally chartered bank, savings bank or savings-and-loan association in the State of New Jersey and to pay to the City the amount of the liens appearing on the official certificate and on such other recorded liens or related charges as may be certified to the insurance company.
B.
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 a 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 the insurance policy, and the
insurance company shall issue a draft payable to the City 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 City not
to exceed the proceeds payable under the 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 in the state, shall be disbursed in accordance with the
final order or judgment of the court.
A.
The City 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 installment, pursuant to N.J.S.A. § 54:5-19,
or for the redemption of the tax sale lien by installment payments,
pursuant to Article 7 of Chapter 5 of Title 54 of the Revised Statutes,
or for the payment in full of any anticipated costs of demolition
by installment, if the City Council of the City of Bridgeton is satisfied
that the claim for fire damages is to be used to restore or improve
the fire-damaged property.
B.
An insurance company receiving a copy of a resolution of agreement
from the City Council of the City of Bridgeton is authorized to make
full payment on the claim to the insured person.
A.
The terms and provisions of N.J.S.A. 17:36-8 et seq. are hereby adopted
by reference and incorporated herein as if they were set forth with
particularity, including all amendments and supplements thereto.
B.
Nothing herein shall be construed to alter or affect any other remedy
available to the City of Bridgeton under any other law of the State
of New Jersey.
