A.
No permit for the erection of any building shall be issued unless a street or highway giving access to such proposed structure has been duly placed on the Official Map or unless such street or highway is an existing street or highway or unless such street appears on a recorded plat approved by the Planning Board.
B.
No such permit shall be issued unless such street or highway has been suitably improved or, alternatively, a performance bond has been posted to cover the full cost of such improvement.