(A) All fees, penalties, and/or fines established within this chapter and assessable pursuant to the Township's authority outlined within P.L. 2021, c. 444 shall be deemed a municipal charge in accordance with N.J.S.A. 54:5-1 et seq.
(B) Creditors required to notify the Township and register a property as one in foreclosure shall be required to pay the following annual registration fee, per property, due at the time of registration of $500.
(C) If a property registered with the Township's registration program as a property in foreclosure is vacant and abandoned at the time of registration, or becomes vacant and abandoned at any time during the pendency of the foreclosure proceeding, the creditor shall pay an additional annual registration fee, per property, due at the time the determination that the property is vacant and abandoned is made, of $2,000.
(D) If the foreclosing or foreclosed property is not registered, or the registration fee is not paid within 30 days of when the registration or renewal is required pursuant to this section, a late fee equivalent to 10% of the annual registration fee shall be charged for every 30-day period, or portion thereof, the property is not registered and shall be due and payable with the registration.
(E) Violations.
(1) An out-of-state creditor subject to the notice and registration requirements of this chapter, found to be in violation of the requirement to appoint an in-state representative or agent, shall be subject to a fine of $2,500 for each day of the violation. The violation shall be deemed to commence on the day after the creditor's initial ten or 30-day requirement to notify the Township of applicable foreclosure actions.
(2) A creditor subject to the notice and registration requirements of this chapter found to be in violation of any part of this chapter (with the exception of a violation pursuant to division (E)(1) of this section, shall be subject to a fine of $1,500 for each day of the violation. The violation shall be deemed to commence on the thirty-first day following the creditor's receipt of a notice of violation, or if deemed to present an imminent threat to public health and safety, on the eleventh day following the creditor's receipt of such notice.
(F) If the Township expends public funds in order to abate a nuisance or correct a violation on a commercial property in situations in which the creditor was given notice pursuant to this chapter, but failed to abate the nuisance or correct the violation as directed, the Township shall have the same resource against the creditor as it would have against the title owner of the property, including but not limited to the recourse provided under N.J.S.A. 55:19-100, et seq.
(Ord. 408-22, passed 9-12-22)