If surfacing material has not been applied, then a cashier's
check, in an amount recommended by the Town Highway Superintendent,
to cover the cost of satisfactorily completing construction of such
roadway, a signed escrow agreement and an affidavit signed by the
subdivider agreeing to complete surfacing of the roadway by a particular
date within two years of acceptance of the dedication or after the
base course has been installed and at least 2/3 of the lots in the
subdivision or phase are built upon, whichever is earlier. Said subdivider
shall bear the expense of any paving cost overruns if the cashier's
check on deposit with the Town, with accrued interest, is insufficient.
If any amount of money remains after surfacing is satisfactorily completed,
the Town shall refund such money, plus accrued interest, to the subdivider.