[HISTORY: Adopted by the Mayor and Council of the Borough of Alpha 4-13-1999 by Ord. No. 99-1. Amendments noted where applicable.]
No insurance company writing and issuing fire insurance policies in the Borough of Alpha, Warren County, New Jersey, shall make any payment on said policy or policies issued or renewed after the effective date of this chapter to any claimant on claims in excess of $2,500 for fire damages on any real property located within the Borough of Alpha until such time as:
Anticipated demolition costs and all taxes and assessments, together with all other liens and charges due and payable appearing on the official certificate of search; or
All taxes and assessments and all 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; or
The Borough of Alpha shall submit to the insurance company a resolution confirming an agreement with the owner of any fire-damaged property 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 the tax sale lien by installment payments pursuant to N.J.S.A. 54:5-65 or for the payment in full of any anticipated costs for demolition by installment.
Nothing in this chapter shall preclude the insurance company from any rights granted to it pursuant to N.J.S.A. 17:36-10.