The Finance Director is hereby designated as the Municipal official required to deposit any and all funds paid into the Municipality by such insurance carriers or companies in a separate escrow fund and shall not disburse any of such escrow funds until an agreement is made between the real estate owner or owners and the Demolition Committee concerning the disposition of the funds. If requested by the insured, the Municipality may remit the escrowed funds to the insured, in amounts as documented by the insured, to allow the insured to repair, remove or secure the building as required by the Municipality.
(Ord. 86-58. Passed 9-2-86.)