Let $G$ be a finite simple graph and $B \subseteq V(G)$. We introduce the \emph{bivariate $B$-restricted clique polynomial} \[ C_B(G;x,y) = \sum_{\substack{K \subseteq V \\ K \text{ is a clique}}} x^{|K|} y^{|K \cap B|}, \] where the coefficient of $x^i y^j$ counts cliques of size $i$ with exactly $j$ vertices in $B$. This polynomial simultaneously captures combinatorial structure, local extremal properties, and spectral constraints associated with the subset $B$. \\ First, we develop vertex and edge deletion recurrences, generalizing classical clique polynomial results. These recurrences imply monotonicity for the largest negative root $ζ_G(B;y)$ (viewed as a polynomial in $x$ for fixed $y \in [0,1]$) under induced and spanning subgraphs. From this, we derive bounds on $B$-independence numbers, $B$-girth, and clique densities restricted to $B$. \\ Next, we prove that for any integer $r \ge 1$, any $r$-connected $K_{r+3}$-free chordal graph $G$, and any subset $B \subseteq V(G)$, the bivariate clique polynomial $C_B(G;x,y)$ is real-stable. \\ Then, we connect $C_B(G;x,y)$ with spectral graph theory. For $(n,d,λ)$-graphs, expansion constraints via Tanner's inequality limit clique growth within $B$, yielding explicit bounds on coefficients and $ζ_G(B;y)$. \\ Finally, we analyze weighted vertices and homomorphism obstructions in this framework, giving a general no-homomorphism criterion. We also conclude the paper with a couple of interesting open problems for young and motivated researchers.