We present a novel method of using terminal costs in the construction of a receding horizon search path. We prove that the proposed method of constructing search paths provides a theoretical lower bound on the performance of the search path. Our result can be interpreted as ensuring that the receding horizon path performs no worse in expectation than a given sub-optimal search path. This result is especially practical for subsea applications where, due to use of side-scan sonar in search applications, search paths typically consist of parallel straight lines. Thus for subsea search applications, our approach ensures that expected performance is no worse than the usual subsea search path, and it might be much better. We demonstrate the efficacy of the proposed method by planning search paths in simulation using real-world data that was acquired by an autonomous underwater vehicle during a subsea survey of Boston Harbor.