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8442° <br /> A letter of credit, escrow agreement, or bond shall be submitted to secure <br /> construction of Hope Valley Drive and New Hope Springs Drive to the <br /> standards of the North Carolina Department of Transportation. An estimate of- • <br /> the construction cost must be prepared by a certified/licensed engineer or <br /> grading contractor and submitted to the Planning and Inspections Department., <br /> The financial guarantee must reflect 110% of that estimate and be issued by an <br /> accredited financial institution licensed to do business in North Carolina. <br /> The document describing development restrictions to be recorded with the <br /> Final Plat shall state that the financial guarantee will not be released until the <br /> road construction has been inspected and approved by NCDOT. <br /> 2. An erosion control plan for construction of the roads shall be submitted by the <br /> applicant for review and approval by the Orange County Erosion Control <br /> Division. <br /> 3. A left turn lane for Hope Valley Drive shall be constructed or secured for <br /> construction prior to approval of the Final Plat for Section One. <br /> 4. Lots 9 through 12, shall access onto New Hope Springs Drive.. Lots 1 and 26 <br /> shall access onto Hope Valley Drive. All lots shall access onto the new <br /> subdivision roads. This restriction shall be stated in a document describing <br /> development restrictions and requirements to be prepared by Planning Staff <br /> and recorded concurrently with the Final Plat. • <br /> 5. Approved street name signs shall be erected at the intersection of streets as <br /> required in Section IV-B-3-c-12 of the Orange County Subdivision <br /> Regulations. Evidence shall be submitted by the applicant that the signs are in <br /> place or a copy of the receipt for purchase of the signs shall be submitted to <br /> the Planning Department. <br /> 6. Dedicate to Orange County, on behalf of the public, the right-of-way for <br /> extending New Hope Springs Drive to connect with Davis Road, which may <br /> provide a second entrance to the subdivision. The intersection shall not occur <br /> west of the intersection of Marklyn Place and Davis Road. <br /> 7. Provide a temporary turnaround in the location of the proposed cul-de-sac on <br /> the northern end of New Hope.Springs Drive. <br /> 8. As part of the development of Section Two, New Hope Springs - South, the <br /> applicant shall either: <br /> a. Extend New Hope Springs Drive to connect with Davis Road to <br /> provide a second entrance to the subdivision, eliminate the temporary <br /> turnaround, and provide a 10'x70' sight triangle at Davis Road; • <br /> OR <br /> b. Provide a different second access to the subdivision. If the second <br /> access is approved by Orange County, the right-of-way for the <br />