No final plat shall be approved by the Land Use Board until the completion
of all such required improvements has been certified to the Land Use
Board by the Borough Engineer and Superintendent of Water and Sewer,
unless the subdivision owner has furnished a performance guarantee
in favor of the Borough of Westville in an amount not to exceed 120%
of the cost of installation of only those improvements required by
an approval or developer's agreement, ordinance or regulation
to be dedicated to a public entity, and that have not yet been installed,
which cost shall be determined by the Borough Engineer, according
to the method of calculation set forth in Section 15 of P.L. 1991,
c. 256 (N.J.S.A. 40:55D-53.4), for the following improvements as shown
on the approved plans or plat: streets, pavement, gutters, curbs,
sidewalks, streetlighting, street trees, surveyor's monuments
[as shown on the final map and required by the Map Filing Law (N.J.S.A.
46:23-9.9 et seq.)] or N.J.S.A. 46:26B-1 through 46:26B-8, water mains,
sanitary sewers, community septic systems, drainage structures, public
improvements of open space and any grading necessitated by the preceding
improvements, and within an approved phase or section of a development,
privately owned perimeter buffer landscaping. At the developer's
option, a separate performance guarantee may be posted for the privately
owned perimeter buffer landscaping.