A. 
Performance guarantees shall be provided in accordance with this chapter.
B. 
In addition, 10% thereof shall be deposited in cash or by certified check with the Borough Clerk, conditioned upon the developer providing streetlighting, sidewalks, shade trees, surveyors monuments, iron pipe lot markers and such other subdivision improvements as the Borough Council and Board may find necessary or appropriate in the public interest. The deposit, or a portion thereof, in an amount as certified in writing by the Borough Engineer and approved by the Council, may be expended by the Borough if, within 30 days after written notice from the Borough Engineer, the developer shall fail to provide a stated improvement of a type necessary or appropriate for the public interest. The Borough shall be obligated to return only the unexpended portion of the deposit to the developer, which condition shall be agreed to in writing by the developer prior to consideration of the final approval.
The amount of the performance guarantee is in accordance with § 120-6.5.
The Board, upon application by the developer, may recommend to the Borough Council the reduction of the amount of the performance guarantee up to 70% upon certification, in writing, by the Borough Engineer that certain portions of the required improvements and Planning Board conditions have been properly completed and upon the posting of proper guarantees and maintenance bonds, provided that the remaining performance guarantees and maintenance bonds are adequate to insure completion of the remaining improvements.