As the work of installing the required improvements proceeds, the
applicant may request the Board of Supervisors to release or authorize
the release, from time to time, such portions of the financial security
necessary for payment to the contractor(s) performing the work. Any
such request shall be in writing addressed to the Board of Supervisors,
and the Board of Supervisors shall have 45 days from receipt of such
request within which to allow the Township Engineer to certify, in
writing, to the Board of Supervisors that such portion of work upon
the improvements has been completed in accordance with the final plat
approval. Upon such certification, the Board of Supervisors shall
authorize an amount as estimated by the Township Engineer fairly representing
the value of the improvements completed. The Board of Supervisors
may, prior to final release at the time of completion and certification
by its Engineer, require retention of 10% of the estimated cost of
the aforesaid improvements.