Policy proceeds remaining after the transfer to the designated officer of the Borough under this Article shall be disbursed in accordance with the policy terms. The named insured may submit a contractor's signed estimate of the costs of removing, repairing or securing the building or other structure after the transfer, and the designated officer shall return the amount of the fund in excess of the estimate to the named insured if the Borough has not commenced to remove, repair or secure the building or other structure.
(Ord. 3083. Passed 3-16-98.)