Proper installation of improvements. If the Town Engineer
shall find, upon inspection of the improvements performed before the
expiration date of the performance bond, that any of the required
improvements has not been constructed in accordance with plans and
specifications filed by the subdivider and in accordance with good
construction practices, he shall so report to the Town Board, Building
Inspector and Planning Board. The Town Board then shall notify the
subdivider and, if necessary, the bonding company and shall take all
necessary steps to preserve the Town's rights under the bond. The
Town Board may thereupon declare the performance bond in default and
collect the sum remaining payable thereunder, and, upon receipt of
the proceeds thereof, the Town shall install such improvements as
are covered by such performance bond and commensurate with the building
development that has taken place in the subdivision, but not exceeding
in cost the amount of such proceeds. In making such determination
regarding streets, highways, parks and required improvements, the
Planning Board shall take into consideration the prospective character
of the development, whether residence, business or industrial. No
plat shall be approved by the Planning Board as long as the subdivider
is in default on a previously approved section of the plat.