My specialty as of late seems to be rabid Labs - Ive got one thats 4 y/o mean little bitch! Shee growls snarls and has bit me countless times. I have alpha rolled her, I have ear pinched, I have done it all. Usually she bites I put her in her place, then she's fine for the rest of the session, its a daily challenge seems like, but when she has a good day shes really an excellent dog. Ive just gotten the bite marks and bruises from her PMS,
Anyway should this happen again, put the dog in the truck, haul it down to the shelter tell them its the neighbor's dog its gotten out and they have no secure pen for it. Then the owners of the lab can go pay the spay/nueter fee plus the release fee to get their dog back - that is if they really want their dog back. And just remember - if you can control the head - you control where the body goes - just grab it by the collar and load it up. Labs do have bite power but their facial structure is such that it cannot do damage the same manner that a short snout dog would such as a Pit or a Boxer.
If I lived nearby I would mind dealing with the dog myself - as well as the owner.