The developer shall furnish a performance guarantee in favor of the Township in an amount not to exceed 120% of the cost of installation of only those improvements required by an approval or developer's agreement, ordinance, or regulation to be dedicated to a public entity, and that have not yet been installed, which cost shall be determined by the Township Engineer based on documented construction costs for public improvements prevailing in the general area of the Township, for the following improvements as shown on the approved plans or plat: streets, pavement, gutters, curbs, sidewalks, street lighting, street trees, surveyor's monuments as shown on the final map as required by the Map Filing Law (N.J.S.A. 46:23-9.9 et seq.: repealed by Section 2 of Chapter 217 of the Public Laws of 2011) or N.J.S.A. 46:26B-1 through 46:26B-8, water mains, sanitary sewers, community septic systems, drainage structures, public improvements of open space, and any grading necessitated by the preceding improvements.