No insurance company shall pay to any claimant any claim in excess of
$2,500 for fire damage on real property located within the confines of the
Township of Middle pursuant to any fire insurance policy issued or renewed
after adoption of this chapter and after filing this chapter with the State
Commissioner of Insurance, until such time as:
A. (1) 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; or (2) 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
B. The municipality submits to the insurance company a copy
of a resolution ratifying an agreement with the owner of the fire damaged
property pursuant to N.J.S. 17:36-11.
Any such insurance company shall pay over to the Township of Middle
such proceeds of the policy as may be necessary to satisfy 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 prior to
paying any portion of the proceeds to the property owner, all pursuant to
N.J.S. 17:36-8 et seq.