No lot in a subdivision may be sold, no permit to
build, alter or repair any building on land in a subdivision or land
development may be issued and no building may be erected in a subdivision
or land development until a final subdivision or land development
plan has been approved and, where required, recorded, and until either
all required improvements have been completed or their completion
has been assured by a completion bond or the deposit in escrow of
funds or securities sufficient to cover the cost of the required improvements
as estimated by the Township Engineer.