(A) In the event that the subdivider defaults or fails or neglects to satisfactorily install the required improvements within the time agreed upon for performance, the Town Council may declare the bond, or other assurance forfeited, and the town may make or cause the required improvements to be made, using the trust funds or proceeds of the collection of the bond or other assurance to defray the expense thereof.
(B) In addition, the Planning and Zoning Director shall notify the State Real Estate Commissioner of the default.
(Ord. 2007-2, passed 5-29-2007; Am. Ord. 2014-02, passed 12-15-2014)