There be and is hereby established, within the Township of Maplewood ("Township"), a requirement that before the filing of a final subdivision plat or recording of a minor subdivision deed or condition of final site plan approval or as a condition to the issuance of a zoning permit, pursuant to the provisions of N.J.S.A. 40:55D-65, a developer, as defined in N.J.S.A. 40:55D-4, shall furnish a performance guaranty 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, 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 Municipal Engineer, according to the method of calculation set forth in N.J.S.A. 40:55D-53.4, for the following improvements, as shown on the approved plans or plat: streets, pavement, gutters, curbs, sidewalks, streetlighting, street trees, surveyors monuments, as shown on the final map and required by the Map Filing Law, water mains, sanitary sewers, community septic systems, drainage structures, public improvements of open space, and any grading necessitated by the preceding improvements.