(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.