[HISTORY: Adopted by the governing body of the Township of Little Falls by Ord. No. 754 (Sec. 2-53 of the 1995 Revised General Ordinances). Amendments noted where applicable.]
Payment to a claimant by any insurance company of any claim in excess of $2,500 for fire damages on any real property located within the Township, pursuant to any fire insurance policy issued or renewed after the adoption of this chapter is hereby prohibited until such time as:
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 pursuant to the provisions of N.J.S.A. 17:36-10; or
The municipality submits to the insurance company a copy of a resolution adopted pursuant to § 78-2below.
The governing body may enter into an agreement with the owner of any fire-damaged property 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 the tax sale lien by installment payments pursuant to N.J.S.A. 54:5-65 et seq. or for the payment in full of any anticipated costs of demolition by installment, if the governing body is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property. An insurance company receiving a certified copy of a resolution of agreement from the governing body is authorized to make full payment on the claim to the insured person.
No changes to chapter shall take effect until filed with the Commissioner of Insurance.
The official certificate of search may, from time to time, be altered, by the bonded official responsible for preparing such certificates, in order to correct any errors or omissions or to add any municipal liens or related charges due and payable subsequent to the preparation of the official certificate.