(1) If the court finds after a hearing that the conditions for conservatorship have been established, but the owner represents that the conditions will be abated in a reasonable period, the court may allow the owner to proceed to remedy the conditions.
(2) If the owner is allowed to proceed with abatement, the court may require the owner to post a bond in the amount of the repair costs estimated in the petition as a condition to retaining possession of the building.
(3) The court shall additionally enter an order providing that, if the conditions are not abated by the owner by a specific date or that other specified remedial activities have not occurred by a specific date or dates, an order appointing a conservator shall be entered.
(4) In the event the owner brings the property into compliance with all applicable housing, building, and nuisance code requirements or sells the property subject to the conservatorship, the owner shall reimburse the petitioner for all reasonable costs incurred by the petitioner in preparing and filing the petition.