No plan shall be given final approval unless the streets or street
system shown on such plan have been improved as required by this chapter,
and any walkways, sidewalks, or other pedestrian pathways, 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 plan, including improvements or fees required
pursuant to this section, the applicant shall provide for the deposit
of financial security with Straban Township in an amount equal to
110% of the costs of such improvements or common amenities including,
but not limited to, walkways, sidewalks, or other pedestrian pathways,
curbs, gutters, streetlights, fire hydrants, shade trees, water mains,
sanitary sewers, storm sewers, roads, stormwater detention and/or
retention basins and other related drainage facilities, recreational
facilities, open space improvements, and buffer or screen plantings
which may be required. The guarantee of public improvements or release
of funds for such improvements shall not be contingent upon municipal
land development plan approval. The applicant shall not be required
to provide financial security for the costs of any improvements for
which financial security is required by and provided to the Department
of Transportation in connection with the issuance of a highway occupancy
permit pursuant to Section 420 of the Act of June 1, 1945 (P.L. 1242,
No. 428) known as the "State Highway Law."