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SECTION 120.0 UNSAFE STRUCTURES 120.7 Public Nuisance: Structures which are declared a nuisance under the terms of Chapter 17 of the Municipal Code of the City of University City shall be vacated and demolished or repaired in strict accordance with the provisions of said chapter. 120.3 Insurance Proceeds: If there are proceeds of any insurance policy based upon a covered claim payment made for damage or loss to a building or other structure caused by or arising out of any fire, explosion, or other casualty loss, and if the covered claim payment is in excess of fifty percent (50%) of the face value of the policy covering a building or other structure, then the following procedure shall apply: a) The insurer shall withhold from the covered claim payment ten percent (10%) of the covered claim payment, and shall pay that amount to the City to deposit into an interest-bearing account_ Any named mortgagee on the insurance policy shall maintain priority over any obligation under this section. If a special tax bill or assessment is issued by the City for the expenses of demolition of such building as a dangerous building, the moneys held by the City shall be applied toward payment of special tax bill or assessment. If there is any excess, it shall be paid by the City to the insured or as the terms of the policy, including any endorsements thereto, provide. b) If within thirty (30) days of the receipt of such insurance moneys the City has not instituted legal proceedings by issuance of the notice provided for in section 120.3 and 120-->5 or section 12M, or by taking emergency measures as provided for in section 121.0, then the City treasurer shall release such proceeds and any interest which has accrued on such proceeds to the insured under the insurance policy or as the terms of the policy including any endorsements thereto provide. c) If such building or structure is repaired or demolished pursuant to this article as attested to by the building official without cost to the City, then any insurance proceeds paid to the City treasurer and any interst thereon shall be paid to the insured under the insurance policy or as the terms of the policy includin; any endorsements thereto provide. d) When the City takes bids from independent contractors for demolition of a building, bidders shall deduct any salvage value materials of the building or structure nay have from the cost of demolition in arriving at their bid amount. Should City employees do the demolition, the actual cash value of salvaged materials shall be deducted from the special tax bill for such demolition. In no case will the net cost of denolition be increased in order to effect salvage of materials. e) Upon presentation of satisfactory proof that the insured has removed or will renove debris and repair, rebuild or otherwise make the insured prei.iises safe and secure, the building official shall issue a certifi- cate within thirty (30) days after receipt of such satisfactory proof to permit covered claim payment to the insured without deduction payable to the City treasurer as herein provided in this section, It shall be the obligation of the insured or other person making claim to provide the insurance company with such certificate. f) No provision of this section shall be construed to make the City a party to any insurance contract. SECTION 121.0 EMERGENCY MEASURES 121.1 Vacating Structures: When, in the opinion of the building official, there is actual and immediate danger of failure or collapse of a structure or part thereof which would endanger life, or when any structure or part of a structure has fallen and life is endangered by the occupation of the building or structure, or when there is actual or potential danger to the building occupants or those in the proximity of any building because of explosives, 4