[HISTORY: Adopted by the Township Committee of the Township of Mendham by Ord. No. 17-1984 (Sec. 2-43 of the 1998 Revised General Ordinances). Amendments noted where applicable.]
Fire prevention — See Ch. 177.
No insurer issuing fire insurance policies in the State of New Jersey shall pay any claims for fire damages in excess of $2,500 on any real property located within the Township of Mendham pursuant to any fire insurance policy issued or renewed after the adoption of this section and the filing of a certified copy with the State Commissioner of Insurance until such time as:
All taxes, assessments and all other municipal liens or charges levied and assessed and due and payable against the property and appearing on the official certificate of search for municipal liens pursuant to N.J.S.A. 54:5-12 shall have been paid either by the owner of such real property or by the insurance company; or
Notwithstanding the foregoing provisions, if an appeal is taken on the amount of any lien or charge other than an appeal on the assessed valuation of real property pursuant to N.J.S.A. 54:3-21, the insurance company shall comply with the provisions of N.J.S.A. 17:36-10.
The Township Committee may by resolution enter into an agreement with the owner of any fire-damaged property situated in the Township of Mendham 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 a tax sale lien by installment payments pursuant to N.J.S.A. 54:5-65 and following if the Township Committee is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property.
In the event of such resolution, a certified copy of the resolution shall be sent to the insurance company authorizing the insurance company to make full payment on the claim to the insured.
Notwithstanding the provisions of § 169-1, an insurance company may pay proceeds of a fire insurance policy to the holder of a purchase money first mortgage or to any bank, savings bank, state or federally chartered savings and loan association or insurance company holding a mortgage on the fire-damaged real property where the fire insurance policy at the time of the loss listed the mortgagee as the holder of an insurable interest; provided, however, such payment may not be in an amount which exceeds that due and payable to the mortgagee under the mortgage contract.