a.
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
Borough of Pine Hill pursuant to any fire insurance policy issued
or renewed after the adoption of this chapter and the filing of this
ordinance with the State Commission of Insurance, until such time
as:
1.
All taxes and 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.
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 R.S. 54:3-21, the insurance company shall withhold 75% of the full
amount of lien or charge being contested pending termination of all
proceedings, at which time such moneys and all interest accruing thereon
at a rate paid on interest bearing accounts in banking institutions
or savings and loan associations in the State of New Jersey, shall
be disbursed in accordance with a final order or judgment of the court.
The borough council of the borough may, by resolution, enter into an agreement with the owner of any fire damaged property situated in the borough 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 a tax sale lien by installment payments pursuant to Article 7 of Chapter 7 of Title 54 of the Revised Statutes of New Jersey, if the borough 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.
a.
Notwithstanding the provisions of Section 9A-1 of this chapter, 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 mortgagee contract.
b.
Any claim on behalf of the borough made in accordance with the provisions
of this chapter and P.L. 1978, C. 184 shall be paramount to any other
claims on the proceeds of the fire insurance policy, except of 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
contract.
The official certificate of search may from time to time, be
altered, by the bonded official responsible for preparing such certificates,
in order to cancel any error or omissions or to add any municipal
liens or related charges due and payable subsequent to the preparation
of the official certificate.
Upon adoption of this chapter, a certified copy shall be filed
by the Clerk of the borough with the State Commissioner of Insurance
pursuant to Section 2 of P.L. 1978, Chapter 184.
a.
All other powers conveyed and reserved to the borough by N.J.S.A.
17:36-8 through N.J.S.A. 17:36-13 as now or herein-after amended not
specifically set forth in this chapter are hereby incorporated by
reference and enacted by the Borough of Pine Hill.
b.
Any provisions of this chapter inconsistent with the provisions of
N.J.S.A. 17:36-8 through N.J.S.A. 17:36-13, as now or hereafter amended,
are hereby modified or repealed to the extent of such inconsistencies,
but all other parts of this chapter shall remain in full force and
effect.
