Before approving any land development plan, Borough
Council shall require a written agreement that necessary grading,
paving, street improvements, sidewalks, monuments, streetlights, fire
hydrants, water mains, and sanitary sewers, as may be required by
the Borough, shall be installed in strict accordance with the standards
and specifications by the applicant within a specified amount as shall
be determined by the Borough Engineer to cover the cost of such improvements.
The guarantee of financial security shall be in accordance with Section
509 of the Pennsylvania Municipalities Planning Code. If the improvements
have not been installed within the time required or agreed upon and
in accordance with the standards and specifications, such deposit
shall be forfeited to the Borough. Upon written certification by the
Borough Engineer that such improvements have been satisfactorily completed,
the deposit shall be returned to the applicant.