The Village Board of Trustees shall not give final approval of required improvements, nor release a performance bond, until the Village Engineer has submitted reports stating that all required improvements have been satisfactorily completed and until the applicant's engineer or surveyor has submitted a statement to the Village Engineer certifying that all the required improvements have been satisfactorily completed and installed. Upon such approval and recommendation, the Village Board of Trustees shall thereafter accept the improvements for dedication in accordance with the established procedure. The performance bond or other security will not be released for a period of 90 days after acceptance by the Village Board of Trustees.

Where utilities required by the Planing Board are to be installed by a public utility company, the Planning Board may accept assurance from the public utility company, in writing, that such installation will be furnished by the company within a specified period of time and in accordance with the approved construction plans in lieu of a performance bond for the cost thereof.

Permanent monuments of a type satisfactory to the Village Engineer shall be set at such block corners, angle points, points of curves in streets and other points at the Village Engineer may require, and their location shall be shown on the subdivision plat.

The approval by the Planning Board of a subdivision plat which includes private streets, parks or playgrounds not offered for dedication to the Village shall not be deemed to constitute or imply the acceptance by the Board of Trustees of any street, park, playground or other open space shown on said plat or constitute any opinion or approval by the Village of the adequacy or enforceability of any right by a person whose property is served by said improvements to use the same. The Planning Board may require said plat to be endorsed with appropriate notes to this effect. The Planning Board may also require the filing of a written agreement by the applicant, satisfactory to the Board of Trustees, covering future title, dedications and provisions for the cost of grading, development, equipment and maintenance of any park or playground area.

Where a certificate of occupancy for a building in a subdivision is desired prior to the completion of the road improvements required in the Planning Board's approval of the subdivision plat, the Village Engineer shall certify, in writing, that the street serving the proposed building is adequate for vehicular access by the occupant and by police and fire equipment prior to the issuance of a certificate of occupancy. If the Village Engineer does not certify, no certificate shall be issued. Where such certificate has been issued before completion of such road improvements, the street shall be maintained in suitable condition. If it is not so maintained and the situation is not corrected within 48 hours following written notice from the Village Engineer or Building Inspector/Village Engineer, the Village Engineer or Building Inspector/Village Engineer shall proceed to put the street into suitable condition, the cost of which work shall be a charge against the subdivision. The performance bond given by the subdivider shall provide for the reimbursement of the Village for necessary street maintenance expense incurred under the above-described circumstances.

The Planning Board may waive, for such period as it may determine, the provision of any improvement as, in its judgment, is not necessary in the interests of the public health, safety and general welfare. In the case of each waiver granted, the Planning Board shall enter upon its records the reason or reasons why the particular improvement is not necessary, and it shall attach appropriate conditions or require such guaranties may be necessary to protect the public interest.