Pursuant to the provisions of N.J.S.A. 40:48-2.12s, the creditor
filing the summons and complaint in an action to foreclose a lien
on residential property that is vacant and abandoned, without regard
to whether the filing of the summons and complaint is made before
or after the determination that the property is vacant and abandoned,
shall be responsible for the care, maintenance, security, and upkeep
of the exterior of the vacant and abandoned residential property.
This obligation applies without regard to whether the determination
that the property is vacant and abandoned is made by a public officer,
as defined herein, pursuant to the provisions of N.J.S.A. 2A:50-73
or otherwise. If the creditor is located out-of-state, the creditor
shall be responsible for appointing an in-state representative or
agent to act for the foreclosing creditor.
If a public officer, or any other local official responsible
for administration of any property maintenance or public nuisance
code, determines that the creditor has failed to provide for the care,
maintenance, security, and upkeep of the exterior of a vacant and
abandoned property, as required by this chapter, then the public officer,
or other authorized municipal official, shall issue a notice to the
creditor that has filed the summons and complaint in the foreclosure
action. The notice shall require the person or entity being notified
to correct the violation within 30 days of receipt of the notice,
or within 10 days of receipt of the notice if the violation presents
an imminent threat to public health and safety. The issuance of a
notice pursuant to this section shall constitute proof that a property
is "vacant and abandoned" for the purposes of N.J.S.A. 2A:50-73.
An out-of-state creditor shall include the full name and contact
information of the in-state representative or agent in the notice
required to be provided pursuant to N.J.S.A. 46:10B-51(a)(1). An out-of-state
creditor subject to this chapter found by the Municipal Court of the
City of North Wildwood, or by any other court of competent jurisdiction,
to be in violation of the requirement to appoint an in-state representative
or agent pursuant to this chapter shall be subject to a fine of $2,500
for each day of the violation. Any fines imposed on a creditor for
the failure to appoint an in-state representative or agent shall commence
on the day after the ten-day period set forth in N.J.S.A. 46:10B-51(a)(1)
for providing notice to the Municipal Clerk that a summons and complaint
in an action to foreclose on a mortgage has been served.
A creditor subject to this chapter found by the Municipal Court
of the City of North Wildwood, or by any other court of competent
jurisdiction, to be in violation of the requirement to correct a care,
maintenance, security, or upkeep violation cited in a notice issued
pursuant to this chapter shall be subject to a fine of $1,500 for
each day of the violation. Any fines imposed pursuant to this paragraph
shall commence 31 days following receipt of the notice, except if
the violation presents an imminent risk to public health and safety,
in which case any fines shall commence 11 days following receipt of
the notice. As required by N.J.S.A. 40:48-2.12s, no less than 20%
of any money collected pursuant to this section shall be utilized
by the City of North Wildwood for municipal Code enforcement purposes.