Verification. All performance guaranties shall be
submitted to the administrative officer who shall forward one copy
of the guaranties to the Municipal Engineer, who shall notify the
approval agency and Borough Solicitor if the performance guaranty
exceeds 120% of the cost of installation for improvements covered.
Not more than 10% of the performance guaranty shall be required to
be in cash. The performance guaranty may cover: street subbase, grading,
pavement, gutters, curbs, sidewalks, streetlighting, shade trees,
surveyor's monuments, water mains, culverts, storm sewers, sanitary
sewers or other means of sewage disposal, drainage structures, erosion
control and sedimentation control devices, public open space improvements
and, in the case of site plans, other on-site improvements and landscaping.