Any performance guarantee provided in accordance with the requirements of this section shall be conditioned upon the completion of the required improvements and for the repair of any damage caused by the owner or developer to any property, public or private, during the installation of the improvements, and the inspection and acceptance of the same by the Borough Engineer. The release of the developer from a performance guarantee, including the providing by the developer of a maintenance guarantee upon completion of all improvements, shall be governed by the standards set forth for other improvements contained in the Borough ordinances.