[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.
