The governing body of the Town of Hammonton, in which the fire-damaged property is located, may enter into 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.R.S. 54:5-19 or for the redemption of the tax sale lien by installment payments pursuant to Article 7 of Chapter 5 of Title 54 of the Revised Statutes, if the governing body of the Town of Hammonton is satisfied that the claim for fire damages is to be used to restore or improve the fire-damaged property. An insurance company receiving a certified copy of a resolution of agreement from the governing body of the Town of Hammonton is authorized to make full payment on the claim to the insured person.