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A letter of credit or escrow agreement or other security shall be submitted to <br />secure construction of Crown Court to the standards of the North Carolina <br />Department of Transportation. An estimate of the construction cost must be <br />prepared by a certified/licensed engineer or grading contractor and submitted to <br />the Planning and Inspections Department. The financial guarantee must reflect <br />110% of that estimate and be issued by an accredited financial institution licensed <br />to do business in North Carolina. <br />The document describing development restrictions to be recorded with the Final <br />Plat shall state that the financial guarantee will not be released until the road <br />construction has been inspected and approved by NCDOT. <br />2. Chili Court shall be constructed to Class C private road standards within a 50 -foot <br />right -of -way. Ritz Way shall be constructed to Class B private road standards <br />within a 50 -foot right -of -way. <br />Chili Court and Ritz Way shall be inspected, and the construction certified in <br />writing to the Orange County Planning Department by a North Carolina <br />Professional Engineer, or a North Carolina Registered Land Surveyor. The <br />location of the travelway within the platted private road right -of -way shall also be <br />certified. <br />•• <br />A letter of credit, escrow agreement, or bond shall be submitted to secure <br />construction and inspection of Chili Court to Class C private road standards and <br />Ritz Way to Class B standards. An estimate of the construction and certification <br />costs must be prepared by a certified/licensed engineer or grading contractor and <br />submitted to the Planning and Inspections Department. The financial guarantee <br />must reflect 110% of that estimate and be issued by an accredited financial <br />institution licensed to do business in North Carolina. <br />The document describing development restrictions to be recorded with the Final <br />Plat shall state that the financial guarantee will not be released until the road <br />construction has been certified by a North Carolina Professional Engineer or a <br />North Carolina Registered Land Surveyor. <br />3. 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 />4. A Private Road Maintenance Agreement for Chili Court and Ritz Way shall be <br />approved by the County Attorney. <br />5. A statement that further subdivision of any of the lots served by the private roads <br />may require upgrade of the roads to a higher standard shall be included in a <br />document describing development restrictions and requirements to be prepared by <br />Planning Staff and recorded concurrently with the Final Plat. <br />