The Village Clerk shall periodically review the escrow funds on deposit to ensure that adequate funds are available to satisfy all professional statements relating to said matter. In the event the Village Clerk determines sufficient funds are not available, the Village Clerk shall so notify the applicant or other individual and request a further amount to defray the anticipated additional costs in accordance with the standards set forth in Section 2.905. The professionals previously engaged shall be advised not to perform any further work until said sum has been received, and the individual applicant shall be given fourteen (14) days to deposit said additional funds. In the event that said funds are not deposited, the Village shall take no further action on the matter and shall so advise the applicant or other individual.
(Ord. 750, passed 1-21-2014)