[HISTORY: Adopted by the Board of Commissioners of the Borough
of Mount Ephraim 3-7-1996 by Ord.
No. 634 (Ch. 50 of the 1973 Borough Code). Amendments
noted where applicable.]
The payment to any claimant who suffers fire damage on any real
property located within the Borough of Mount Ephraim in excess of
$2,500 by any insurance company is prohibited until such time as anticipated
demolition costs and all taxes and assessments and all other municipal
liens or charges due and payable appearing on the official certificate
of search are paid.
This chapter shall apply to all policies of fire insurance issued
or renewed after the adoption of this chapter and after the filing
of same with the New Jersey State Commissioner of Insurance.
The Borough of Mount Ephraim may, by resolution, 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
installments 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
Commissioners are satisfied that the claim for fire damages is to
be used to restore or improve the fire-damaged property. An insurance
company receiving a certified copy of a resolution of agreement from
the Borough of Mount Ephraim is authorized to make full payment on
the claim to the insured person.
A certified copy of this chapter shall be filed with the New
Jersey State Commissioner of Insurance by the Clerk of the Borough
of Mount Ephraim.
