§ 1370.

IMPROVEMENT BONDS

a.

As a guarantee of good faith to furnish, install and construct the required improvements, the subdivider shall furnish a corporate surety bond or other acceptable security deposit for an amount not less than 50 percent of the estimated cost of said improvements.

b.

As a guarantee of payment for the labor, materials, equipment and services required to furnish, install and construct said improvements, the subdivider shall furnish a corporate surety bond or other acceptable security deposit for an amount not less than 50 percent of the estimated cost of said improvements.

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