Performance bond. The applicant will be required to post performance bonds pursuant to the applicable provisions of Village Law and in accordance with Article 9A of the Real Property law in sufficient amounts and duration as recommended by the Building Inspector to assure that all streets and other public places shown on the site development plan shall be suitably graded and paved and that street signs, sidewalks, streetlighting standards, curbs, gutters, street trees, water mains, fire alarm signal devices, sanitary sewers and storm drains shall be installed in accordance with standards, specifications and procedures acceptable to the Board of Trustees.