[HISTORY: Adopted by the Mayor and Council of the Borough
of Neptune City: Art. I, 11-8-1982 by Ord. No. 82-7. Amendments noted where applicable.]
[Adopted 11-8-1982 by Ord. No. 82-7]
No insurer issuing a fire insurance policy on any real property
located in the Borough of Neptune City, County of Monmouth, State
of New Jersey, shall pay a claim for fire damages in excess of $2,500
until all taxes and assessments due the Borough of Neptune City and
all other municipal liens or charges due and payable shall have been
paid.
The insurer, prior to payment of a claim for fire damages in
excess of $2,500, shall obtain from its insured an official certificate
of search for municipal liens, pursuant to N.J.S.A. 54:5-12, certifying
that all taxes, assessments or other municipal liens or charges levied
and assessed and due and payable against said property have been paid.
Any insurer or insured requesting the official certificate required by § 120-2 shall include in the request the appropriate notation that the search concerns fire-damaged property.
In lieu of the official certificate required by § 120-2, the insurer may accept an appropriate resolution of the Mayor and Council of the Borough of Neptune City, adopted pursuant to N.J.S.A. 17:36-11, acknowledging that the property owner and the Borough of Neptune City have entered into an agreement to pay 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 New Jersey Revised Statutes (N.J.S.A. 54:5-65 et seq.), where the Mayor and Council of the Borough of Neptune City is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property. Upon receipt of this resolution, the insurer may make the full payment to the insured.
This chapter is adopted pursuant to the authority granted under
N.J.S.A. 17:36-8 et seq., as supplemented and amended by Chapter 369
of the Laws of 1979, effective February 4, 1980.
