A.Prior to the granting of final approval, the City Engineer shall certify that the subdivider has installed or has furnished performance guaranties for the ultimate installation of any of the following which may have been required by the Planning Board:

(1) Street paving, curbs, gutters and sidewalks and other street improvements to be constructed in accordance with the city's specification.

(2) Street and traffic signs.

(3) Streetlighting.

(4) Shade trees: to be located on the street line so as not to interfere with utilities or sidewalks, and shall be of the type approved by the governing body or by the Planning Board.

(5) Topsoil protection: No topsoil shall be removed form the site or used as spoil unless approved by the governing body. Topsoil moved during the course of construction shall be redistributed so as to provide at least six (6) inches of cover to all areas of the subdivision and shall be stabilized by seeding or planting. Should construction stop for a period of more than one (1) year, the topsoil shall be replaced over all areas from which it may have been stripped.

(6) Monuments to be of the size and shape required by N.J.S.A. 46:23-9.4 and shall be placed in accordance with said statute.

(7) Water mains, culverts, storm sewers and sanitary sewers. All such installations shall be properly connected with the city's municipal water system and be adequate to handle all present and probable future development.

B. All the above-listed improvements win be subject to inspection and approval by the City Engineer, who shall be notified by the developer at least forty-eight (48) hours before the start of construction. No underground installation shall be covered until inspected and approved.

C. No final plat shall be approved by the Planning Board until the completion of all such required improvements has been certified to the Planning Board by the City Engineer, unless the subdivision owner shall have filed with the municipality a performance guaranty sufficient in amount to cover the cost of all such improvements or uncompleted portions thereof as estimated by the City Engineer and assuring the installation of such uncompleted improvements on or before an agreed date. Such performance guaranty may be in the form of a performance bond which shall be issued by a bonding or surety company approved by the governing body; a certified check returnable to the subdivider after fall compliance, or any other type of surety approved by the City Attorney.

D. The performance guaranty shall be approved by the City Attorney as to form and execution. Such performance guaranty shall run for a period to be fixed by the Planning Board, but in no case for a term of more than three (3) years. However, with the consent of the owner and the surety, if there is one, the governing body may by resolution extend the term of such performance guaranty of an additional period not to exceed three (3) years. The amount of the performance guaranty may be reduced by the governing body by resolution when portions of the required improvements have been installed.

E. If the required improvements have not been installed in accordance with the performance guaranty, the obligor and surety shall be liable thereon to the municipality for the reasonable cost of the improvements not installed, and upon receipt of the proceeds thereof the municipality shall install such improvements.