A. The applicant may be required to post performance bonds or other security, pursuant to § 7-730 and other pertinent provisions of the Village Law of the State of New York, in sufficient amounts and duration to assure that all streets or other public places shown on the site plan shall be suitably graded and paved and that street signs, sidewalks, streetlighting standards, curbs, gutters, street trees, water mains, fire alarm signal devices, including necessary ducts and cables or other connecting facilities, sanitary sewers and storm drains or combined sewers shall all be installed in accordance with standards, specifications and procedures acceptable to the appropriate Village departments.

B. The applicant may be required to post performance bonds or letters of credit in sufficient amounts and duration to assure that all public improvements shown on the site plan are installed. The sufficiency of such performance bonds or letters of credit shall be determined by the Planning Board, Building Inspector, Code Enforcement Officer or other appropriate party.