No plat shall be finally approved unless the streets shown on such
plat have been improved to a mud-free or otherwise permanently passable
condition, or improved as may be required by this chapter and any
walkways, curbs, gutters, streetlights, fire hydrants, shade trees,
water mains, sanitary sewers, storm sewers and other improvements
as may be required by this chapter have been installed in accordance
with such chapter. In lieu of the completion of any improvements required
as a condition for the final approval of a plat, including improvements
or fees required by the Borough, the subdivider or developer shall
deposit with the Borough a financial security in an amount sufficient
to cover the costs of such improvements or common amenities, including,
but not limited to, roads, stormwater detention and/or retention basins
and other related drainage facilities, recreational facilities, open
space improvements, or buffer or screen plantings which may be required.