Where a developer plans to install the site improvements prior to final approval, the developer may submit the engineering plans and specifications for the improvements to the Municipal Engineer, who shall approve them within 35 days. In the event of a denial, the specific reasons must be enumerated in a letter to the applicant. If revised plans are submitted in response to the denial letter, they shall be approved or denied within 20 days with the same requirement as previously imposed for a denial. After the plans are approved, the developer may install the site improvements prior to final approval. The developer shall be required to furnish a restoration bond for 120% of the maximum cost of restoring the site in the event that the improvements are not complete within two years from the commencement of the work on any section in the development or prior to the expiration of preliminary approval, whichever occurs first. The bond shall either be a security bond, a letter of credit, or an escrow account in accordance with this chapter. The type, form, and amount of the bond are subject to the approval of the Municipal Engineer and the Municipal Attorney.