The approving authority may, in appropriate instances and for good cause demonstrated by the applicant, condition its final approval of a site plan or major subdivision upon the subsequent submission of required performance and/or maintenance guarantees and inspection fees.

A. Conditional approval granted by the approving authority shall be for an initial period not to exceed 120 days after the date of the Township Engineer's performance guarantee cost estimate. In the absence of compliance, the conditional approval shall be null and void upon expiration of the conditional period.

B. The approving authority may, upon application for good cause demonstrated, extend the conditional approval for additional periods, each not exceeding 120 days.