In order to assure the Borough that the streets, drainage facilities,
curbs, sidewalks, street signs, fire hydrants, streetlighting facilities,
monuments, parks, and any other improvements shown on the final plans,
which Borough Council shall require the owner to install, at his own
expense, will be constructed and installed in strict accordance with
the plans, as finally approved, and with the standards, regulations
and specifications of the Borough, and will be maintained until accepted
or condemned by the Borough, the owner shall furnish to the Borough
a bond with such surety as Borough Council shall approve, or, in lieu
thereof, when deemed adequate by Borough Council, shall deposit with
the Borough securities, in either case in an amount sufficient to
cover cost, as estimated by the Borough Engineer or Borough Council,
of the construction and installation of the aforesaid improvements,
and of lighting the streets, until the same shall be accepted by the
Borough.