If such indemnification bond shall not be given within the time fixed by the court, then, and in that case, the officer levying or selling shall not be protected under this law, but the court may, in its discretion, order the said sheriff or other officer aforesaid not to pay over to the plaintiff any money made, acquired, received, or obtained under or by virtue of any such levy or sale, until such additional bond be given and approved by such court or judge.