In the event that any improvements which may be required have not been installed as provided for in these Regulations or in accord with the approved Final Plat, the City Law Director is hereby granted the power to enforce any corporate bond, or other security by appropriate legal and equitable remedies. If the proceeds of such bond, or other security are insufficient to pay the cost of installing or making repairs or corrections to all the improvements covered by said security, the City may, at its option, install such improvements in all or part of the subdivision and may institute appropriate legal equitable action to recover the monies necessary to complete the remainder of the improvements. All of the proceeds, whether resulting from the security or from any legal or equitable action brought against the Subdivider, or both, shall be used solely for the installation of the improvements covered by such security, and not for any other municipal purpose.