Whenever a policy or policies of insurance are in force providing coverage against the peril of fire on a building or structure and the loss agreed to between the named insured or insureds and the company or companies is more than five thousand dollars ($5,000) and equals or exceeds sixty percent (60%) of the aggregate limits of liability on all fire policies covering the building or structure on the property, the Manager shall proceed to accept security payments and follow the procedure of Ohio R.C. 3929.86(C) and (D) as set forth in Chapter 1531. (Ord. 1555-94. Passed 9-26-94.)