In accordance with Section 511 of the Planning
Code, in the event that any improvements which may be required
have not been installed, as provided in this Part 1, or in accord
with the approved final plat, the Borough Council is hereby granted
the power to enforce any corporate bond, or other security by appropriate
legal and equitable remedies. If proceeds of such bond or other security
are insufficient to pay the cost of installing or making repairs or
corrections to all the improvements covered by said security, the
Borough Council may, at its option, install part of such improvements
in all or part of the subdivision or land development and may institute
appropriate legal or equitable action to recover the moneys necessary
to complete the remainder of the improvements. All of the proceeds,
whether resulting from the security or from any legal or equitable
action brought against the developer, or both, shall be used solely
for the installation of the improvements covered by such security,
and not for any other municipal purpose.