A.Â
No insurance company authorized to issue fire insurance policies
in the State of New Jersey which issues or renews any fire insurance
policy after the adoption of this chapter and the filing of same with
the State Commissioner of Insurance, shall pay to any claimant a sum
in excess of two thousand five hundred dollars ($2,500) for fire damage
on any real property located within the Township of Plumsted until
such time as:
(1)Â
All taxes and assessments and all other municipal liens and charges
due and payable to the Township of Plumsted as is indicated on an
official certificate of search for municipal liens, shall have been
paid in full, and a municipal certificate is issued stating that the
cost of demolition has been paid; or
(2)Â
The municipality submits to the insurance company a copy of a resolution
adopted pursuant to N.J.S.A. 17:36-11.
B.Â
However, if an appeal is taken on the amount of any lien or charge,
other than an appeal on an assessed valuation of real property, the
insurance company shall issue a draft payable to the Court of Record,
pursuant to N.J.S.A. 17:36-10, in an amount totaling seventy-five
percent (75%) of the full amount of the lien or charge being contested
and the insurance company shall issue a draft payable to the municipality
for the remaining twenty-five percent (25%) of the lien or charge
being contested; provided, however, that the amount paid by the insurance
company to the Court and the municipality shall not exceed the proceeds
payable under its insurance policy.
The provisions of this chapter are intended to be interpreted
in conjunction with N.J.S.A. 17:36-8 through N.J.S.A. 17:36-13, and
the provisions of said statutes are herein incorporated by reference.
