If, with respect to a loss, reasonable proof is not received or shown to the chief of the fire department, his duly authorized agent or another authorized representative of the city within one hundred twenty (120) days after the policy proceeds were received by the finance office, the city shall use the retained proceeds to secure repair or demolish the damaged or destroyed structure and clear the property in question, so that the structure and property are in compliance with code requirements and applicable ordinances of the city. Funds not used for such purpose shall be returned to the insured and mortgagees named in the policy. Prior to the city of Marion using any funds under this section, the city of Marion shall institute demolition proceedings in a court of competent jurisdiction. (Ord. 3360, 11-28-2016)