Application of Security. 2.5.1 The Council may, from time to time, apply all or part of the Cash Deposit for payment of the Monitoring Sum which sum shall be deducted from the Cash Deposit before or on repayment of the balance of the Cash Deposit upon Completion of the Reinstatement Works in accordance with clause 3.2.i 2.5.2 If the Owner fails to comply with any of its obligations referred to in clause 2.1 within seven (7) days of receipt of a notice in writing from the Council, which refers to the failure and requests the failure to be rectified, or within such reasonable timeframe otherwise agreed by the Owner and the Council in writing, then the Council may, from time to time apply all or part of the Cash Deposit for the payment of any sum payable by the Owner to the Council under this Deed and/or the Act, including any sum incurred by the Council under clause 2.3 of this Deed, or retain all or part of those proceeds to cover amounts as reasonably estimated by the Council to be incurred or which may (in the reasonable estimation of the Council) be incurred by the Council or its contractors under clause 2.3 or in respect of those matters.
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