As a condition of approval and compliance with the intent and purposes of this section, the applicant shall be required to file with the Village a performance bond, secured by a letter of credit, and/or cash deposit sufficient to cover the full cost of improvements and treatment required by this Article, as estimated by the Village Engineer. The amount and period of said bond and/or cash deposit shall be determined by the Planning Board, and the form, sufficiency and manner of execution shall be subject to the approval of the Village Board of Trustees. No more than one performance bond needs to be posted in order to fulfill the requirements of this provision or as otherwise required under other provisions of this chapter or of Chapter 139, Subdivision of Land.