Prior to acceptance of any improvements or facilities, the applicant
shall provide a financial guarantee to the Borough to secure the structural
integrity and functioning of the improvements. The security shall:
(A) be in the form of a bond, cash, certified check or other negotiable
securities acceptable to the Borough, (B) be for a term of 18 months,
and (C) be in an amount equal to 15% of the actual cost of the improvements
and facilities so dedicated.