The Zoning Board of Appeals shall either approve or disapprove each and every Development Plan. However, the Zoning Board shall not approve any PD unless:
(A) The developer has posted a performance bond or deposited funds in escrow in the amount of the Village Engineer deems sufficient to guarantee the satisfactory completion of all required improvements; and
(B) The Village Attorney has stated that all legal instruments (particularly the restrictive covenants) are satisfactory; and
(C) The proposed PD, as evidenced by the Development Plan, complies with all applicable codes, regulations and ordinances. (Deviations to the extent permitted under Section 40-3-27 shall not be deemed as noncomplying.)