(A) Within 30 days of the effective date of this chapter, any creditor who has initiated a summons and complaint with the New Jersey Superior Court in an action to foreclose on a commercial and/or residential mortgage for a property located within the Township: (i) prior to the effective date of this chapter, and (ii) which is pending as of the effective date of this chapter, shall provide notice in accordance with division (B) of this section.
(B) Within 10 days of filing a summons and complaint with the New Jersey Superior Court in an action to foreclose on a commercial and/or residential mortgage for a property located with the Township, the creditor shall notify the Township Clerk, or his or her designee, of the action. Such notice shall include:
(1) The address, block, and lot of the subject property.
(2) The date the summons and complaint in an action to foreclose on a mortgage was filed against the subject property, the court in which it was filed, and the docket number of the filing.
(3) Whether the property is vacant and abandoned in accordance with the definition in this chapter.
(4) The full name, address and telephone number for the representative of the creditor who is responsible for receiving notice of complaints of property maintenance and code violations.
(5) The full name, address, and telephone number of any person or entity retained by the creditor or a representative of the creditor to be responsible for any care, maintenance, security, or upkeep of the property; and
(6) If the creditor is out-of-state, the full name, address, and telephone number of an in-state representative or agent who shall be responsible for any care, maintenance, security or upkeep of the property, and for receiving notice complaints of property maintenance and code violations.
(7) The notice requirements herein represent a continuing obligation through the pendency of this foreclosure action. After initial notice to the Township, creditors subject to the notice requirement shall update the Township's property registration program within ten days of any change in the information contained in the original or any subsequent notices.
(C) Creditors of any commercial and/or residential mortgage required to notify the Township pursuant to this section shall:
(1) Register the property with the Township's property registration program as a property in foreclosure, within 30 days of notifying the Township.
(2) Be subject to the registration fee, notice requirements and penalties for non-compliance established within this chapter.
(3) Update the property registration within ten days of any chance in the information contained in the original notice to the Township.
(4) If an out-of-state creditor, appoint an in-state representative or agent to act for the foreclosing creditor, whose contact information shall be contained within the initial notice to the Township.
(5) Within ten days of the property becoming vacant and abandoned at any time during the pendency of the foreclosure action, the creditor shall:
(a) Assume responsibility for the care, maintenance, upkeep and security of the exterior of the property.
(b) Secure the property against unauthorized entry.
(c) Post a sign on the inside of the property, visible to the public, containing the name, address, and telephone number of the creditor, or an out-of-state creditor's in-state representative or agent, for the purpose of receiving service of process.
(d) Acquire and maintain a vacancy insurance policy which covers any damage to any person, or any property caused by any physical condition of the property while registered with the Township's property registration program.
(e) Provide proof, within ten days of receiving a request by the Township or its designee, that the above conditions have been satisfied.
(f) Cure any violations of the above requirements within 30 days of receiving a notice of violation, or if deemed to present an imminent threat to public health and safety, within ten days of receiving such notice.
(6) Update the property registration within ten days of the creditor becoming aware that the property is deemed vacant and abandoned as defined herein.
(7) Each individual property on the Registry that has been registered for six months or more prior to the effective date shall have 30 days to renew the registration and pay the non-refundable annual registration fee. Properties registered less than six months prior to the effective date shall renew the registration every 12 months from the expiration of the original registration renewal date and shall pay the non- refundable annual registration fee.
(D) If at any time the creditor is deemed to be in violation of the above requirements, and/or if the property is deemed to be in violation of any other applicable local or state maintenance, health or safety codes, the Code Official or his or her designee shall notify the creditor using the contact information provided in the property registry established by this chapter.
(Ord. 408-22, passed 9-12-22)