In the event that any wooden or combustible building or structure, or any noncombustible building which stands within the fire limits, is damaged to the extent of 50% or more of its value, exclusive of the foundation, it shall not be repaired or rebuilt, but shall be taken down and removed within 60 days from the date of such fire or other casualty.
('72 Code, § 7-211) Penalty, see § 10.99