The developer shall, prior to final acceptance, install all traffic control devices required within any development or, with the consent of the borough council, may pay to the borough treasurer a nonrefundable sum, in cash or certified check, in the amount set by the borough engineer equal to the cost of all necessary traffic control devices not installed by the developer. Traffic control devices shall include, but are not limited to, signs, traffic lines, lights, reflectors and channelizing markers. The number, type, legend, placement and size of all traffic control devices shall be in accordance with the Manual on Uniform Traffic Control Devices by the United States Department of Transportation and the requirements of municipal, county and state regulations and shall be according to an approved plan submitted at the time of final plat approval. Construction details of all proposed traffic control devices shall be in accordance with standards prepared by the borough engineer and approved by the borough council.