If the respondent be admitted to bond, the condition of the undertaking shall be for his future appearance according to the terms thereof, or in default of such appearance, that the surety will pay the clerk of court a specified sum as therein set forth. Instead of entering into such an undertaking a respondent may deposit money in an amount to be fixed by the court. If the respondent fails to appear in accordance with the terms of the undertaking, the court shall enter the fact of such nonappearance upon the record, and the undertaking for his appearance, or the money deposited in lieu thereof, shall be forfeited and upon order of the court the sum recovered shall be applied by the clerk of the court for the benefit of the petitioner. However, the court may, in its discretion, remit such forfeiture.
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