Within 120 days and in the absence of any appeal by the applicant of the merits of the application, after completion of the review of an application for development by the approving authority, whether preliminary or final, the adoption of any resolution memorializing the decision on the application, and the satisfaction of all conditions required for the plat to be signed, or after the withdrawal of an application (or after the conclusion of the informal discussion if the deposit was made for that purpose and is not to be credited toward an application for development), the Borough Treasurer shall refund to the applicant all deposit moneys remaining in the account together with the interest, if any, which the applicant is entitled to receive. The Borough shall retain interest earned on the deposit which does not exceed $100 for the year. If the interest earned on the deposit exceeds $100 for the year, 2/3 of the entire amount of the interest earned shall be refunded to the applicant and the remaining 1/3 shall be paid over to the Borough. After any remaining balance in the account (including such interest) is so disposed of, the escrow account shall be terminated.