At the time of submitting his application and plans to the administrative officer, the applicant shall be required to execute an escrow agreement between the applicant and the reviewing board to cover the cost of technical and professional review of the application for development. Said escrow agreement shall be in the form approved by the Solicitor of the Township of Hainesport and in accordance with N.J.S.A. 40:55D-53.1. The escrow agreement shall provide that the applicant pay all necessary and reasonable costs incurred by the technical and professional staff employed by the reviewing board for review of the applicant's application for development. The sums specified below are estimates which shall be posted prior to consideration by the reviewing board or its staff of that stage of the applicant's review process indicated. In the event that more than the sums specified below is required to pay the reasonable cost incurred, the applicant shall, prior to being permitted to take the next step in the approval procedure or in any element of his project, pay all additional sums required. In the event that the escrow sums posted are more than those required, the excess funds shall be returned to the applicant within 14 days of the issuance of an occupancy permit for any element of the project.