Prior to issuance of a certificate of occupancy, when site plan approval has been granted, the applicant shall submit to the building subcode official an application and the required fee. The application shall contain such information as the building subcode official may require to determine compliance with the approved site plan.

In the event that the site improvements as required for a certificate of occupancy have been sufficiently completed to permit safe use of the premises but have not been entirely completed the building subcode official may grant a certificate of occupancy conditioned on the timely completion of all improvements. Such certificate of occupancy shall be issued only after the applicant has deposited with the Township, in an amount equal to 120% of the Township engineer's estimate of the cost of completing all required improvements, either a sum of cash pursuant to an escrow agreement provided by the Township attorney or a letter of credit approved as to form by the Township attorney.