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Where the Authority has incurred expenses in or about the execution of any work which are recoverable from any person, the Authority may either recover such expenses in the manner provided in section 61 or, if the Authority thinks fit, may obtain an undertaking from the person for the payment of such instalments as will be sufficient to defray the whole amount of such expenses within a period of 10 years.

Upon default in payment of any instalment upon the date appointed for payment thereof by any such undertaking, the whole of the balance then outstanding of such amount shall immediately become due and payable and, notwithstanding any change in the ownership or occupation of the premises since the date of the undertaking, may be recovered by the same means and in the like manner as provided in section 61.