No insurance company which has issued or renewed any fire insurance policy after the adoption of this article and after the filing thereof with the State Commissioner of Insurance shall pay to a claimant under said fire insurance policy any claim in excess of $2,500 for fire damages on any real estate located in the Township of Cedar Grove until such time as all taxes, 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 estate or by the insurance company, pursuant to the provisions of Chapter 184 of the Public Laws of 1978,[1] or until the Township of Cedar Grove submits to the insurance company a copy of a resolution adopted pursuant to the said public law allowing the application of the insurance proceeds to the restoration or improvement of the damaged property by the owner.

A copy of this article shall be submitted, upon final adoption, to the State Commission of Insurance in accordance with Chapter 184 of the Public Laws of 1978.