When performance, maintenance, or other guarantees have been posted and thereafter the developer fails to diligently pursue the work; or fails to complete the installation of the guaranteed improvements; or fails to construct said improvements in accordance with the approved Construction Document submittal; or otherwise fails to conform with any terms and/or conditions of any Municipal approvals or Municipal requirements for the subject project, then the Municipality, after giving notice which it deems reasonable under the particular circumstances, shall utilize such monies or bonds as have been posted.
(Ord. 1327. Passed 5-9-91.)