[G.O. No. 1588, § I]
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 within the Town of
Westfield pursuant to any fire insurance policy issued or renewed
after the adoption of this article and the filing of this article
with State Commissioner of Insurance, until such time as:
(a)
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 shall have been paid, either by the
owner of such real property or by the insurance company; or
[G.O. No. 1588, § I]
Unless a resolution as provided in Section 8-37 hereof is received by an insurance company or companies proposing to pay a claim for fire damage in excess of $2,500, such insurance company shall prior to the payment of any claim for such damage in excess of $2,500 pay the amount of the anticipated demolition costs to the Town of Westfield and to pay to the Town of Westfield the amount of liens appearing on the official certificate and such other recorded liens or related charges as may be certified to the insurance company.
[G.O. No. 1588, § I]
In the event 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 deal with
the proceeds as provided in N.J.S.A. 17:36-10.
[G.O. No. 1588, § I]
The Town Council may, by resolution, enter into an agreement with the owner of any fire damaged property situated in the Town of Westfield, to pay in full any demolition costs, delinquent taxes, assessments, or other municipal liens by installments pursuant to N.J.S.A. 54:5-19, or for the redemption of a tax sale lien by installment payments pursuant to Article VII of Chapter 5 of Title 54 of the Revised Statutes, if the Town Council is satisfied that the claim for fire damages is to be used to restore or improve the fire damaged property. In the event of such resolution, a certified copy of said resolution shall be sent to the insurance company, authorizing the insurance company to make full payment of the claim to the insured.
[G.O. No. 1588, § I]
Notwithstanding the provisions of Section 8-34, an insurance company may pay proceeds of a fire insurance policy to a mortgagee of fire damaged real property, where the fire insurance policy, at the time of the loss, listed the mortgagee as a named insured; provided said payment may not be in an amount which exceeds that due and payable to the mortgagee under the mortgage obligation.
Any claim on behalf of the Town of Westfield made in accordance
with the provisions of this article shall be paramount to any other
claims on the proceeds of the fire insurance policy, except for the
claim of a holder of a mortgage on the fire damaged property, where
the fire insurance policy at the time of the loss listed the mortgagee
as a named insured, in which event the claim of the mortgagee to the
proceeds shall be paramount to the municipal lien only to the extent
of the amount due and payable to the mortgagee under the mortgage
obligation.
[G.O. No. 1588, § I]
The official certificate of search may from time to time be
altered by the bonded official responsible for preparing such certificate,
in order to cancel any errors or omissions or to add any municipal
liens or related charges due and payable subsequent to the preparation
of the official certificate.
