[HISTORY: Adopted by the North Wildwood City
Council as indicated in article histories. Amendments noted where
applicable.]
[Adopted 8-21-1979 by Ord. No. 740]
No insurance company shall henceforth pay any
claim for fire damages on real property located within this municipality
until such time as all taxes, assessments and other municipal liens
or charges due and payable, as shown on the official certificate of
search, shall have been paid by the owner of such real property or
by the insurance company, except as provided below.
In lieu of payment of said taxes, assessments,
liens and charges, the governing body of this municipality may enter
into an agreement with the owner of any fire-damaged property, whereby
said owner shall obligate himself to pay all said delinquent taxes,
assessments, liens and charges, when said governing body of the municipality
is satisfied that the fire insurance proceeds are to be used to restore
or improve the fire-damaged property.
This article shall not apply to the payment
of fire insurance claims of $2,500 or less.
