What is a subdivision bond (completion bond) in the context of real estate development?
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A
A bond guaranteeing that all homes in a subdivision will be sold within a specified period
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B
A bond guaranteeing that a developer will complete required public improvements such as roads and utilities
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C
A bond protecting individual homebuyers in a subdivision from latent construction defects
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D
A bond required when a contractor divides a large project into separate construction phases