Improvements covered. No final subdivision plat or final site plan shall be granted final approval and/or filed with the County Recording Officer unless the applicant shall have filed with the Township a performance guarantee in an amount of 120% of the cost of installation of all required on-tract improvements, which cost shall be determined by the Municipal Engineer according to the method of calculation set forth at N.J.S.A. 40:55D-53.4 for all improvements which the Municipal Agency has deemed necessary or appropriate including: streets, grading, pavement, gutters, curbs, sidewalks, streetlighting, shade trees, surveyor's monuments as shown on the final map and required by the Map Filing Law, P.L. 1960, c.141 (C. 46:23-9.9 et seq.),[1] water mains, culverts, storm sewers, sanitary sewers or other means of sewage disposal, drainage structures, erosion control and sedimentation control devices, public improvements of open space and, in the case of site plans only, other on-site improvements and landscaping.