By resolution adopted after failure by a developer to complete or
rectify construction of required improvements by the date established
in a written notice issued by the Engineer by certified mail, the
Board of Supervisors is authorized to declare a developer in default,
exercise rights of the Township under security received for completion
of improvements, receive and retain funds from such security, to advertise
or solicit bids or quotations as applicable for performance of required
work, award contracts for performance of required work, authorize
payment of contracts, costs and fees incurred from the security, provide
for disposition of excess funds or collection of additional sums due
by reason of the default and take all other actions necessary or appropriate
in the circumstances. A copy of such resolution(s) shall be provided
to the developer and to any person or entity to whom a demand for
payment over of security is submitted.