Except
as provided in N.J.S.A. 55:19-83, any property that has not been legally
occupied for a period of six months and which meets any one of the
following additional criteria may be deemed to be abandoned property
upon a determination by the Borough Administrator, as the Compliance
Officer appointed by the Borough Council pursuant to N.J.S.A. 40:48-2.5,
that:
The
property is in need of rehabilitation in the reasonable judgment of
the Compliance Officer, and no rehabilitation has taken place during
that same six-month period; or
Construction
was initiated on the property and was discontinued prior to completion,
leaving the building unsuitable for occupancy, and no construction
has taken place for at least six months as of the date of a determination
by the Compliance Officer;
At
least one installment of property tax remains unpaid and delinquent
on that property as of the date of a determination by the Compliance
Officer; or
The
property has been determined to be a nuisance by the Compliance Officer,
or such other public officer designated or appointed by the Borough
Council pursuant to N.J.S.A. 40:48-2.5, in accordance with N.J.S.A.
55:19-82, for one or more of the following reasons:
The property is subject to unauthorized entry leading to potential
health and safety hazards; the owner has failed to take reasonable
and necessary measures to secure the property; or the municipality
has secured the property in order to prevent such hazards after the
owner has failed to do so;
The presence of vermin or the accumulation of debris, uncut vegetation
or physical deterioration of the structure or grounds have created
potential health and safety hazards and the owner has failed to take
reasonable and necessary measures to remove the hazards; or
The dilapidated appearance or other condition of the property materially
affects the welfare, including the economic welfare, of the residents
of the area in close proximity to the property, and the owner has
failed to take reasonable and necessary measures to remedy the conditions.
A property
which contains both residential and nonresidential space may be considered
abandoned pursuant to N.J.S.A. 55:19-78 et seq., provided 2/3 or more
of the total net square footage of the building was previously legally
occupied as residential space and none of the residential space has
been legally occupied for at least six months at the time of the determination
of abandonment by the Compliance Officer.
The Compliance
Officer, or such other public officer designated or appointed by the
Borough Council pursuant to N.J.S.A. 40:48-2.5, shall identify abandoned
property within the Borough of Wanaque for the purpose of establishing
an abandoned property list. The abandoned property list shall include,
for each abandoned property identified, the tax block and lot number,
the name of the owner of record, if known, and the street address
of the lot. The Compliance Officer may add properties to the abandoned
property list at any time, and may delete properties at any time when
he or she finds that the property no longer meets the definition of
an abandoned property.
An abandoned
property shall not be included on the abandoned property list if rehabilitation
is being performed in a timely manner, as evidenced by building permits
issued and diligent pursuit of rehabilitation work authorized by those
permits. A property on which an entity other than the Borough of Wanaque
has purchased or taken assignment from the Borough of a tax sale certificate
which has been placed on the abandoned property list may be removed
if the owner of the certificate pays all municipal taxes and liens
due on the property within 30 days after the property is placed on
the list; provided, however, that if the owner of the certificate
fails to initiate foreclosure proceedings within six months after
the property was first placed on the list, the property shall be restored
to the abandoned property list in accordance with the provisions of
N.J.S.A. 55:19-103.
The Compliance
Officer shall establish the abandoned property list and any additions
or deletions thereto by authorizing the publication of the list in
the official newspaper of the Borough of Wanaque, which publication
shall constitute public notice, and, within 10 days after publication,
shall send a notice, by certified mail, return receipt requested,
and by regular mail, to the owner of record of every property included
on the list. The published and mailed notices shall identify property
determined to be abandoned, setting forth the owner of record, if
known, the tax lot and block number and street address. The Compliance
Officer, in consultation with the Tax Collector, shall also send out
a notice by regular mail to any mortgagee, servicing organization,
or property tax processing organization that receives a duplicate
copy of the tax bill pursuant to N.J.S.A. 54:4-64d. When the owner
of record is not known for a particular property and cannot be ascertained
by the exercise of reasonable diligence by the Tax Collector, notice
shall not be mailed but instead shall be posted on the property in
the manner as provided in N.J.S.A. 40:48-2.7. The mailed notice shall
indicate the factual basis for the finding of the Compliance Officer,
or such other public officer designated or appointed by the Borough
Council pursuant to N.J.S.A. 40:48-2.5, that the property is abandoned
property as that term is defined herein and in N.J.S.A. 55:19-54,
and shall specify the information relied upon in making such finding.
In all cases, a copy of the mailed or posted notice shall also be
filed by the Compliance Officer in the office of the Wanaque Clerk.
This filing shall have the same force and effect as a formal notice
under N.J.S.A. 2A:15-6. The notice shall be captioned with the name
of the Borough of Wanaque as "plaintiff" and the name of the property
owner as "defendant," as though an action had been commenced by the
Borough against the property owner.
An owner
or lienholder may challenge the inclusion of his property on the abandoned
property list by appealing that determination to the Borough Council
within 30 days of the owner's receipt of the certified notice or 40
days from the date upon which the notice was sent. An owner whose
identity was not known to the Compliance Officer, or such other public
officer designated or appointed by the Borough Council pursuant to
N.J.S.A. 40:48-2.5, shall have 40 days from the date upon which notice
was published or posted, whichever is later, to challenge the inclusion
of a property on the abandoned property list. For good cause shown,
the Borough Council shall accept a late filing of an appeal. Within
30 days of receipt of a request for an appeal of the findings contained
in the notice, the Borough Council shall schedule a hearing for redetermination
of the matter. Any property included on the list shall be presumed
to be abandoned property unless the owner, through the submission
of an affidavit or certification asserting that the property is not
an abandoned property, can demonstrate that the property was erroneously
included on the list. The affidavit or certification shall be accompanied
by supporting documentation, such as, but not limited to, photographs,
repair invoices, bills and construction contracts. The sole ground
for appeal shall be that the property in question is not abandoned
property as that term is defined herein and in N.J.S.A. 55:19-54.
The Borough Council shall decide any timely filed appeal within 10
days of the hearing on the appeal and shall promptly, by certified
mail, return receipt requested, and by regular mail, notify the property
owner of the decision and the reasons therefor.
The property owner may challenge an adverse determination of an appeal with the Borough Council pursuant to Subsection D of this section by instituting, in accordance with the New Jersey Court Rules, a summary trial proceeding in the Superior Court, Passaic County. Such action shall be instituted within 20 days of the date of the notice of decision mailed by the Borough Council. The sole ground for appeal and new hearing before the Superior Court shall be that the property in question is not an abandoned property as that term is defined in N.J.S.A. 55:19-54. The failure to institute an action of appeal on a timely basis shall constitute a jurisdictional bar to challenging the adverse determination, except that, for good cause shown, the court may extend the deadline for instituting the action.
The Borough
shall promptly remove any property from the abandoned property list
that has been determined by the Borough Council, or on appeal, not
to be abandoned and may, in its discretion, remove properties from
said list whenever the Borough Council deems such removal appropriate
under the circumstances.
The abandoned
property list, which shall include the properties at Block 220.20,
Lots 1 through 47, shall become effective, and the Borough of Wanaque
shall have the right to pursue any legal remedy with respect to properties
on the list, at any time after adoption of this article and following
the expiration of the period for appeal with respect to that first
property or upon the denial of an appeal brought by the property owner
of that first property.
An owner
may request removal of his or her property from the abandoned property
list prior to sale of the tax sale certificate by paying all taxes
and Borough liens due, including interest and penalties, and:
By
posting cash or a bond equal to the cost of remediating all conditions
because of which the property has been determined to be abandoned
pursuant to N.J.S.A. 55:19-55 and by posting cash or a bond to cover
the cost of any environmental cleanup required on the property, evidenced
by a certification by a licensed engineer retained by the owner and
reviewed and approved by the Borough Council, stating that the cash
or bond adequately covers the cost of the cleanup; or
By
demonstrating to the satisfaction of the Borough Council that the
conditions rendering the property abandoned have been remediated in
full; provided, however, that where the Borough Council finds that
the owner is actively engaged in remediating the conditions because
of which the property was determined to be abandoned, as evidenced
by significant rehabilitation activity on the property, the Borough
Council may grant an extension of time of not more than 90 days for
the owner to complete all work, during which time no further proceedings
will be taken against the owner or the property.
If the
owner has posted cash or a bond in order to have a property removed
from the abandoned property list and the conditions because of which
the property was determined to be abandoned have not been fully remediated
within one year of the date of posting the cash or bond, or, in the
case of a property which requires a remediation of any known, suspected
or threatened release of contaminants, if the owner has failed to
enter into a memorandum of agreement with the New Jersey Department
of Environmental Protection or an administrative consent order, as
the case may be, or if an agreement or order is in effect but the
owner has failed to perform the remediation in conformance with the
agreement or order, then the cash or bond shall be forfeited to the
Borough, which shall use the cash or bond and any interest which has
accrued thereon for the purpose of demolishing or rehabilitating the
property or performing the environmental remediation. Any funds remaining
after the property has been demolished, rehabilitated or cleaned up
shall be returned to the owner.
Notwithstanding
the provisions of N.J.S.A. 54:5-19, or the provisions of any other
law to the contrary, if a property is included on the abandoned property
list and the property taxes or other Borough liens due on the property
are delinquent for six or more quarters as of the date of expiration
of the right to appeal the property's inclusion on the list or, if
an appeal has been filed, as of the date that all opportunities for
appeal of inclusion on the list have been exhausted, then the tax
lien on the property may be sold in accordance with the procedures
of the Tax Sale Law, N.J.S.A. 54:5-1 et seq., on or after the 90th
day following the expiration of that time of appeal or final determination
on an appeal.
The Borough
of Wanaque may, at its option, require that the sale of the tax sale
certificate or any subsequent assignment or transfer of a tax sale
certificate held by the Borough he subject to the express condition
that the purchaser or assignee shall be obliged to perform and conclude
any rehabilitation or repairs necessary to remove the property from
the abandoned property list pursuant to N.J.S.A. 55:19-55 and to post
a bond in favor of the Borough to guarantee the rehabilitation or
repair of the property. The Borough Council may waive a requirement
to post a bond imposed by the Borough for any purchaser, assignee
or transferee of a tax sale certificate that provides documentation
acceptable to the Borough Council that the purchaser, assignee or
transferee is a qualified rehabilitation entity as defined in N.J.S.A.
55:19-80. The cost of rehabilitation and repairs and the cost of the
bond shall be added to the amount required to be paid by the owner
for redemption of the property. The purchaser, assignee or transferee
of the tax sale certificate who is required to rehabilitate and repair
the property shall be required to file the appropriate affidavits
with the Tax Collector, pursuant to N.J.S.A. 54:5-62, representing
the amounts of monies expended periodically toward the rehabilitation
or repair of the property. A purchaser, assignee or transferee shall
be entitled to interest on the amounts expended, as set forth in the
affidavits, at the delinquent rate of interest for delinquencies in
excess of $1,500 in effect for the time period when the amounts were
expended, pursuant to N.J.S.A. 54:4-67. The tax sale certificate purchaser,
assignee or transferee, with the authority of the Borough of Wanaque,
shall be permitted to enter in and upon the property for the purposes
of appraising the costs of rehabilitation and repair and to perform
all other acts required to guarantee the completion of the rehabilitation
or repair of the property. No rehabilitation or repair work shall
be commenced, however, until proof of adequate liability insurance
and an indemnification agreement, holding the Borough of Wanaque harmless,
has been filed with the Borough Clerk.
If the
Borough of Wanaque acquires the tax sale certificate for a property
on the abandoned property list, then, upon 10 days' written notice
to the property owner and any mortgagee as of the date of the filing
of the notice pursuant to N.J.S.A. 55:19-55, the Borough shall be
permitted to enter upon the property and remediate any conditions
that caused the property to be included on the abandoned property
list. No remediation shall be commenced, however, if within that ten-day
period the owner or mortgagee shall have notified the Borough in writing
that the owner or mortgagee has elected to perform the remediation
itself. When the owner or mortgagee elects to perform the remediation
itself, it shall be required to post bond in favor of the Borough
of Wanaque in order to ensure performance. The amount and conditions
of the bond shall be determined by the Borough Council.
The cost
of remediation incurred by the Borough of Wanaque, as so certified
by the entity incurring the cost upon completion of the remediation,
shall constitute a lien upon the property first in time and right
to any other lien, whether the other lien was filed prior to or after
the filing of any lien by the Borough, except for Borough taxes, liens
and assessments and any lien imposed pursuant to the Spill Compensation
and Control Act, N.J.S.A. 58:10-23.11 et seq., together with any interest
thereon. The certification of cost shall be filed and recorded as
a lien by the entity incurring the cost with the Wanaque County Clerk.
The clearance,
development, redevelopment, or repair of property being maintained
as an abandoned property pursuant to this chapter shall be considered
a public purpose and public use, for which the power of eminent domain
may be lawfully exercised.
The Borough
of Wanaque may hold special tax sales with respect to those properties
eligible for tax sale pursuant to N.J.S.A. 54:5-19 which are also
on the abandoned property list.
Documentation
of the bidder's ability to rehabilitate or otherwise reuse the property
consistent with Borough plans and regulations; commitments by the
bidder to rehabilitate or otherwise reuse the property, consistent
with Borough plans and regulations;
Such
other criteria as the Borough Council may determine are necessary
to ensure that the properties to be sold will be rehabilitated or
otherwise reused in a manner consistent with the public interest.
The Borough
Council may establish minimum bid requirements for a special tax sale
that are less than the full amount of the taxes, interest and penalties
due, to help ensure that the properties will be rehabilitated or otherwise
utilized in a manner consistent with the public interest.
The Borough
Council may combine properties in said special tax sale into bid packages,
and require that bidders place a single hid on each package, rejecting
any and all bids on individual properties that are submitted.
The Borough
Council may sell said properties subject to the provision that, if
the purchaser fails to carry out any commitment that has been set
forth as a condition of sale or misrepresents any material qualification
that has been established as a condition of eligibility to bid pursuant
thereto, then the properties and any interest thereto acquired by
the purchaser shall revert to the Borough, and any amount paid by
the purchaser at the special tax sale shall be forfeited to the Borough.
In the
event there are two or more qualified bidders for any property or
bid package in a special tax sale, the Borough may designate the unsuccessful
qualified bidder whose bid was closest to the successful bid as an
eligible purchaser. In the event that the selected purchaser of that
property or bid package fails to meet any of the conditions of sale
established by the Borough pursuant to this section and his or her
interest in the property or properties reverts to the Borough, the
Borough may subsequently designate the entity previously designated
as an eligible purchaser as the winning bidder for the property or
properties, and assign the tax sale certificates to that entity on
the basis of that entity's bid at the special tax sale, subject to
the terms and conditions of the special tax sale.
The Borough
of Wanaque shall provide notice of a special tax sale pursuant to
N.J.S.A. 54:5-26. The notice shall include any special terms of sale
established by the Borough pursuant to this section. Nothing shall
prohibit the Borough from holding a special tax sale on the same day
as a standard or accelerated tax sale.
When a
person or entity other than the Borough of Wanaque acquires a tax
sale certificate for a property on the abandoned property list at
tax sale, the purchaser may institute an action to foreclose the right
of redemption at any time after the expiration of just six months
following the date of the sale of the tax sale certificate.
When the
Borough of Wanaque is the purchaser at tax sale of any property on
the abandoned property list pursuant to N.J.S.A. 54:5-34, an action
to foreclose the right of redemption may be instituted in accordance
with the provisions of Subsection b of N.J.S.A. 54:5-77.
After the
foreclosure action is instituted, the right to redeem shall exist
and continue to exist until barred by the judgment of the Superior
Court; provided, however, that no redemption shall be permitted except
where the owner:
Posts
cash or a bond equal to the cost of remediating the conditions because
of which the property was determined to be abandoned pursuant to N.J.S.A.
55:19-56, as determined by the Court; or
If an entity
other than the Borough of Wanaque has purchased or taken assignment
from the Borough of a tax sale certificate on a property that has
not been legally occupied for a period of six months, that property
shall not be added to the abandoned property list under the following
limited circumstances:
The
owner of the certificate takes action to initiate foreclosure proceedings
within six months after the property is eligible for foreclosure pursuant
to either Subsection a or Subsection b of N.J.S.A. 54:5-86, as appropriate,
and diligently pursues foreclosure proceedings in a timely fashion
thereafter.
A determination
that a property is abandoned property under the provisions of this
chapter and N.J.S.A. 55:19-78 et seq. shall not constitute a finding
that the use of the property has been abandoned for purposes of municipal
zoning or land use regulation.
Upon the
request of a purchaser or assignee of a tax sale certificate seeking
to bar the right of redemption on an abandoned property pursuant to
Subsection b of N.J.S.A. 54:5-86, the Borough Council or the Tax Collector
shall, in a timely fashion, provide the requester with a certification
that the property fulfills the definition of an "abandoned property"
according to the criteria established in N.J.S.A. 55:19-81 and N.J.S.A.
55:19-82.
A summary
action or other action to transfer possession and control of abandoned
property in need of rehabilitation to the Borough of Wanaque may be
brought by the Borough in the Superior Court, Passaic County. If the
Court shall find that the property is abandoned and that the owner
or party in interest has failed to submit and initiate a rehabilitation
plan, then the Court may authorize the Borough to take possession
and control of the property and to develop its own rehabilitation
plan for the property.
Where the
Borough has been granted possession and control, the Borough may commence
and maintain further proceedings for the conservation, protection
or disposal of the property, or any part thereof, that arc required
to rehabilitate the property, recoup the cost and expenses of rehabilitation,
and for the sale of the property; provided, however, that the Court
shall not direct the sale of the property if the owner applies to
the Court for reinstatement of control and possession of the property
as permitted by N.J.S.A. 55:19-92.
Failure
by the owner, mortgage holder or lienholder to submit a plan for rehabilitation
to the Borough, obtain appropriate construction permits or, in the
alternative, submit formal applications for funding the cost of rehabilitation
to local, state or federal agencies providing such funding, within
the initial six-month period, shall be deemed clear evidence that
the owner has failed to take any action to further the rehabilitation
of the property.
An owner
may defend against a complaint filed pursuant to N.J.S.A. 55:19-84
by submitting a plan for the rehabilitation and reuse of the property
which is the subject of the complaint and by posting a bond equal
to 125% of the amount determined by the Borough Council or the Court
to be the projected cost of rehabilitation.
Any plan
submitted by an owner to defend against a complaint shall be submitted
within 60 days after the complaint has been filed, unless the Court
provides the owner with an extension of time for good cause shown.
A plan submitted by an owner pursuant to this section shall include,
but not be limited to:
A detailed
financial feasibility analysis, including documentation of the economic
feasibility of the proposed reuse, including operating budgets or
resale prices, or both, as appropriate;
A budget
for the rehabilitation of the property, including sources and uses
of funds, based on the terms and conditions of realistically available
financing, including grants and loans;
A timetable
for the completion of rehabilitation and reuse of the property, including
milestones for performance of major steps leading to and encompassing
the rehabilitation and reuse of the property; and
Documentation
of the qualifications of the individuals and firms that will be engaged
to carry out the planning, design, financial packaging, construction,
and marketing or rental of the property.
Where the
Court approves the rehabilitation plan of the owner or other party
in interest, then it may appoint the Borough Council to act as monitor
of compliance and progress. If the owner fails to carry out any step
in the approved plan, then the Borough may apply to the Court to have
the posted bond forfeited, to transfer possession of the building
to the Borough to complete the rehabilitation plan, and to grant authorization
to use the bond proceeds for the rehabilitation. The owner or other
party in interest shall provide bimonthly reports to the Borough Council
on its activities and progress toward rehabilitation and reuse of
the property.
If an owner
is unsuccessful in defending against a complaint filed pursuant to
N.J.S.A. 55:19-84, the mortgage holder or lienholder may seek to be
designated in possession of the property by submitting a plan and
posting a bond meeting the same conditions as set forth in N.J.S.A.
55:19-87. Such plan must be submitted within 60 days following the
Court's rejection of the owner's plan, unless the Court provides the
mortgage holder or lienholder with an extension of time for good cause
shown. If the Court approves any such mortgage holder or lienholder's
plan, it shall designate that party to be in possession of the property
for purposes of ensuring its rehabilitation.
The mortgage
holder or lienholder, as the case may be, shall provide bimonthly
reports to the Court and the Borough Council on its activities and
progress toward rehabilitation and reuse of the property. If the mortgage
holder or lienholder fails to carry out any material step in the approved
plan, then the Borough Council shall notify the Court, which may order
the posted bond forfeit, grant the Borough possession of the property,
and authorize the Borough to use the proceeds of the bond for rehabilitation
of the property.
Any sums
incurred or advanced for the purpose of rehabilitating the property
by a mortgage holder or lienholder granted possession of a property,
including Court costs and reasonable attorney's fees, may be added
to the unpaid balance due to that mortgage holder or lienholder, with
interest calculated at the same rate set forth in the note or security
agreement, or, in the case of a tax lienholder, at the statutory interest
rate for subsequent liens.
If no mortgage
holder or lienholder meets the conditions of N.J.S.A. 55:19-88, then
the Borough may submit a plan to the Court which conforms with the
provisions of N.J.S.A. 55:19-87. Such plan shall designate whether
the Borough or a qualified rehabilitation entity shall undertake the
rehabilitation plan in accordance with the provisions of N.J.S.A.
55:19-90.
The Borough
Council may designate a qualified rehabilitation entity for the purpose
of exercising the Borough's rights, where that designation will further
the rehabilitation arid reuse of the property consistent with Borough
plans and objectives.
Regardless
of whether the Borough exercises its rights directly or the Borough
Council designates a qualified rehabilitation entity pursuant to this
section, the Borough shall maintain, safeguard, and maintain insurance
on the property while in possession of such property. Notwithstanding
the Borough's possession of the property, the owner of the property
shall not be relieved of any civil or criminal liability or any duty
imposed by reason of acts or omissions of the owner.
The Court
may approve the borrowing of funds by the Borough to rehabilitate
the property and may grant a lien or security interests with priority
over all other liens or mortgages other than municipal liens. Prior
to granting this lien priority, the Court must find as follows:
Lien
priority is necessary in order to induce another lender to provide
financing on reasonable terms. No lien authorized by the Court shall
take effect unless recorded with the Clerk of Wanaque County.
Where the
Borough has designated a qualified rehabilitation entity to act on
its behalf, the qualified rehabilitation entity shall provide bimonthly
reports to the Borough Council on its activities and progress toward
rehabilitation and reuse of the property. The Borough or qualified
rehabilitation entity, as the case may be, shall provide such reports
to the Court as the Court determines to be necessary. If the Court
finds that the Borough or its designee has failed to take diligent
action toward rehabilitation of the property within one year from
the grant of possession, then the Court may request that the Borough
designate another qualified rehabilitation entity to exercise its
rights, or if the Borough fails to do so, may terminate the order
of possession and return possession and control of the property to
its owner.
The Borough
of Wanaque shall file a notice of completion with the Court, and shall
also serve a copy on the owner and any mortgage holder or lienholder,
at such time as the Borough has determined that no more than six months
remain to the anticipated date on which rehabilitation will be complete.
This notice shall include an affidavit of the Borough Council, attesting
that the rehabilitation is anticipated to be completed within six
months, and a statement setting forth the actions it plans to undertake
consistent with the plan.
An owner
may petition for reinstatement of the owner's control and possession
of the property at any time after one year from the Court's removal
of possession, but no later than 30 days after the Borough of Wanaque
has filed a notice of completion with the Court or, in the event the
notice of completion is filed within less than one year of the grant
of possession, within 30 days after the Borough has filed said notice.
The Court may allow additional time for good cause if that additional
time does not materially delay completion of the rehabilitation, place
undue hardship on the Borough or affect any of the terms or conditions
under which the Borough has applied for or received financing for
the rehabilitation of the property.
If the
owner fails to petition for the reinstatement of control and possession
of the property within 30 days after the Borough has filed a notice
of completion or, in any event, within two years after the initial
grant of possession, or if the owner fails to meet any conditions
that may be set by the Court in granting a reinstatement petition,
the Court may grant the Borough title or authorize the Borough to
sell the property, subject to the provisions of N.J.S.A. 55:19-96.
The Borough
Council, with the approval of the Court, may place a lien on the property
to cover any costs of the Borough in connection with any proceeding
under N.J.S.A. 55:19-78 et seq. incurred prior to the grant by the
Court of an order of possession, which may include costs incurred
to stabilize or secure the property to ensure that it can be rehabilitated
in a cost-effective manner. Any such lien shall be considered a Borough
lien for the purposes of N.J.S.A. 54:5-9, with the rights and status
of a Borough lien pursuant thereto.
Where the
Borough seeks to gain title to the property, it shall purchase the
property for fair market value on such terms as the Court shall approve
and may place the proceeds of sale in escrow with the Court. Fair
market value shall be determined based on the abandoned value of the
property.
The Court
may authorize the Borough of Wanaque to sell the building free and
clear of liens, claims and encumbrances, in which event all such liens,
claims and encumbrances shall be transferred to the proceeds of sale
with the same priority as existed prior to resale in accordance with
the provisions of this section, except that municipal liens shall
be paid at settlement. The proceeds of the purchase of the property
shall be distributed as set forth in N.J.S.A. 55:19-97.
Upon approval
by the Court, the Borough shall sell the property on such terms and
at such price as the Court shall approve and may place the proceeds
of sale in escrow with the Court. The Court shall order a distribution
of the proceeds of sale after paying Court costs in the order of priority
set forth in N.J.S.A. 55:19-97.
With the
exception of the holding of special tax sales pursuant to N.J.S.A.
55:19-101, the remedies available under N.J.S.A. 55:19-78 et seq.
shall be available to the Borough with respect to any abandoned property,
whether or not the Borough has established an abandoned property list
and whether or not the property at issue has been included on any
such list.
Upon adoption
of this article and upon the Borough Administrator furnishing notice
to the property owner of Block 220.20, Lots 1 through 47, the Borough
shall take all necessary measures, including the acquisition of the
property, within 120 days from providing such notice, so as to ameliorate
the unsafe conditions found at the subject property.