The Board of Commissioners shall request an approved performance
bond, irrevocable letter of credit, or such other acceptable security
as determined by the Board of Commissioners following review by the
Township Solicitor, to be furnished and filed with the Township Secretary.
An escrow agreement and account approved by the Board of Commissioners
as to form and content shall be required in the amount of 110% of
the estimated construction costs and engineering for each stage of
development. All estimates of cost to be approved by the Township
Engineer. Such escrow amount shall accompany the request for final
approval of the final development plan to insure completion of all
public and private site improvements, streets, roads, parking areas,
sewers, utilities, recreation facilities, stormwater management facilities,
landscaping, plantings and screening.