Default of completion guarantee. If improvements are not installed
in accordance with the approved final plan, the Board of Supervisors
may enforce any financial security by appropriate legal and equitable
remedies. If proceeds of such financial security are insufficient
to pay the cost of installing or making repairs or corrections to
all the improvements covered by said security, the Township, at its
option, may install part of such improvements in all or part of the
development and may institute appropriate legal or equitable action
to recover the funds necessary to complete remaining improvements.
All 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.