§ 168-2. Payment of liens by insurance company required; appeal.
Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I). Unless a resolution is received pursuant to § 168-3 of this article by an insurance company writing fire insurance policies in the Town of Hammonton, such insurance company is hereby authorized and required, prior to the payment of any claims for fire damages in excess of $2,500, to pay the Town of Hammonton the amount of anticipated demolition costs and the liens appearing on the official certificate and such other recorded liens or related charges as may be certified to the insurance company; provided, however, that 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.R.S. 54:3-21, the insurance company shall withhold 75% of the full amount of the lien or charge being contested pending termination of all proceedings, at which time such moneys and all interest accruing thereon at a rate paid on interest bearing accounts in banking institutions or savings and loan associations in the state shall be disbursed in accordance with the final order or judgment of the court.