No land shall be occupied or used and no buildings hereafter erected or altered shall be occupied or used in whole or in part for any purpose whatsoever until a certificate of occupancy shall have been issued by the Construction Official stating that the use of land or building complies with all provisions of this section and all other Borough ordinances. A certificate of occupancy for a single-family dwelling shall not be issued by the Construction Official until the property is graded and sodded or graded and seeded and covered with hay, except that if the Construction Official determines that weather conditions prohibit the effective grading and sodding or seeding of the property, he shall nevertheless issue such certificate of occupancy under the following terms and conditions: the person or entity seeking the issuance of the certificate of occupancy shall post with the Borough a performance guarantee to insure such grading and sodding or seeding when permitted by weather conditions. The length of time of the performance guarantee and the amount of same shall be determined by the Construction Official in consultation with the Borough Engineer. The performance guarantee may be in the form of a performance bond, letter of credit, passbook savings account, or cash. Such certificate of occupancy shall be granted or denied within 20 days from the date written application therefor has been received by the Construction Official.