c. If, upon a hearing authorized in subdivision b hereof, the court
shall determine that such owner, mortgagee, lienor or other person is
not proceeding with due diligence, or upon the failure of such owner,
mortgagee, lienor or other person to complete the work in accordance
with the provisions of said order, the court shall render a final
judgment appointing an administrator as authorized in section seven
hundred seventy-eight of this article. Such judgment shall direct the
administrator to apply the security posted by such person to the
removing or remedying of the condition or conditions specified in the
petition. In the event that the amount of such security should be
insufficient for such purpose, such judgment shall direct the deposit of
rents with the administrator, as authorized by section seven hundred
seventy-six of this article, to the extent of such deficiency. In the
event that such security should exceed the amount required to remove or
remedy such condition or conditions, such judgment shall direct the
administrator to file with the court, upon completion of the work
prescribed therein, a full accounting of the amount of such security and
the expenditures made pursuant to such judgment, and to turn over such
surplus to the person who posted such security, together with a copy of
such accounting.