The applicant shall pay to the Township for the satisfaction of its Mount Laurel obligation off site and in consideration for the provisions set forth in this subsection the sum of $10,000 per lot created by way of subdivision approval. Such sum shall be paid in the following manner: Upon adoption of this subsection and the expiration of the time of appeal thereof without being taken or a final determination of any appeal of such an approval which upholds the approval, the developer shall pay the sum of 10% of the estimated amount determined at the rate of $10,000 per lot and shall post a letter of credit for the balance of the estimated amount to be paid to the Township. The terms of said letter of credit shall provide that the Township has the right to draw upon the letter of credit, upon notice to the developer of its intention to draw upon said letter of credit, in connection with the Township's obligation to fund its regional contribution agreement(s) in accordance with that agreement's funding provisions, and, in any event, the Township may draw down the balance of the moneys not later than the grant of final subdivision approval and the expiration of time for the filing of an appeal from Planning Board action. In the event that there is an inconsistency between the estimated number of lots and the number for which approval is granted, the amount of the contribution to be made by the developer under this agreement shall be adjusted at the time of final subdivision approval. It is understood that this financial contribution is a subsidy to the Township for the purpose of creating and/or rehabilitating low- and moderate-income housing and is in consideration for the Township adopting this subsection.