If any money, property or other consideration due from the developer to the village
is not either recovered from the performance security deposits required in this article
or paid or conveyed to the village by the developer pursuant to the village's demand
therefor, then such money, or the village's reasonable estimate of the value of such
property or other consideration, together with interest and costs of collection, including
legal fees and administrative expenses, shall become a lien upon all portions of the
subdivision or development in which the developer retains any legal, equitable or
contractual interest, and the village shall have the right to collect such amount
or value, with interest and costs, including legal fees and administrative expenses,
and the right to enforce such lien in the same manner as in statutory mortgage foreclosure
proceedings. Such lien shall be subordinate to any first mortgage placed upon the
subdivision or development; provided, however, that such subordination shall apply
only to charges that have become due and payable prior to a sale or transfer of the
subdivision or development pursuant to a decree of foreclosure or any other proceeding
in lieu of foreclosure. Such sale or transfer shall not relieve the subdivision or
development from liability for any charges thereafter becoming due, nor from the lien
of any subsequent charge.
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