[HISTORY: Adopted by the Township Committee of the Township of Lacey: Art. I, 8-6-1981 as Ord. No. 26-81 (Ch. 72 of the 1974 Code), amended in its entirety at time of adoption of Code 7-11-1996 by Ord. No. 96-36 (see Ch. 1, General Provisions, Art. I). Subsequent amendments noted where applicable.]
[Adopted 8-6-1981 as Ord. No. 26-81 (Ch. 72 of the 1974 Code); amended in its entirety 7-11-1996 by Ord. No. 96-36]
No insurance company authorized to issue fire insurance policies in the State of New Jersey which issues or renews any fire insurance policy after the adoption of this Article and the filing of the same with the State Commissioner of Insurance shall pay to any claimant a sum in excess of two thousand five hundred dollars ($2,500.) for fire damage on any real property located within the Township of Lacey until such time as:
All taxes and assessments and all other municipal liens and charges due and payable to the Township of Lacey as are indicated on an official certificate of search for municipal liens shall have been paid in full and a municipal certificate is issued stating that the cost of demolition has been paid; or
The municipality submits to the insurance company a certified copy of a resolution adopted pursuant to N.J.S.A. 17:36-11.
However, if an appeal is taken on the amount of any lien or charge, other than an appeal on an assessed valuation of real property, the insurance company shall issue a draft payable to the court of record, pursuant to N.J.S.A. 17:36-10, in an amount totaling seventy-five percent (75%) of the full amount of the lien or charge being contested and the insurance company shall issue a draft payable to the municipality for the remaining twenty-five percent (25%) of the lien or charge being contested; provided, however, that the amount paid by the insurance company to the court and the municipality shall not exceed the proceeds payable under its insurance policy. Pending termination of all proceedings, at which time all moneys and interest accrued shall be disbursed in accordance with the final action or judgment of the court, the seventy-five percent (75%) of the full amount of lien or charge shall be placed in an interest-bearing escrow account as provided in N.J.S.A. 17:36-10.
The provisions of this Article are intended to be interpreted in conjunction with N.J.S.A. 17:36-8 through N.J.S.A. 17:36-13, and the provisions of said statutes and any amendments thereto are herein incorporated by reference.