[HISTORY: Adopted by the Council of the City of Perth Amboy: Art. I, 3-6-82 as Ord. No. 282-82. Amendments noted where applicable.]
[Adopted 3-6-82 as Ord. No. 282-82]
[Amended 1-26-00 by Ord. No. 1021-2000]
A. 
The Council of the City of Perth Amboy in the County of Middlesex pursuant to N.J.S.A. 17:36-9 shall prohibit the payment to a claimant by any insurance company of any claim in excess of two thousand five hundred dollars ($2,500) for fire damages on any real property located within the municipality, pursuant to any fire insurance policy issued or renewed, when the city has anticipated or has in existence outstanding demolition costs, taxes, assessments and/or municipal liens or charges due and payable appearing on the official certificate of search.
B. 
All taxes, assessments, and/or other municipal liens or charges due and payable, appearing on the official certificate of search, shall have been paid either by the owner of such real property or by the insurance company to the city prior to permitting the payment of such fire loss claim.
A. 
The Council of the City of Perth Amboy may, by resolution, enter into an agreement with the owner of any fire-damaged property situated in the City of Perth Amboy 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 Article 7 of Chapter 5 of Title 54 of the Revised Statutes of New Jersey, if the City Council is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property.
B. 
In the event of such a resolution, a certified copy of said 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 § 261-1 of this Article, an insurance company may pay proceeds of a fire insurance policy to a mortgagee of fire-damaged real property where the fire insurance policy at the time of the loss listed the mortgagee as a named insured, provided that said payment may not be in an amount which exceeds that due and payable to the mortgagee under the mortgage contract.