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OR 720 <br /> A letter of credit, escrow agreement, or bond shall be submitted to secure <br /> construction of Scarlet Oak Lane 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 <br /> to the Planning and Inspections Department. The financial guarantee must <br /> 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 <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. Submit an erosion control plan for construction of the road. <br /> 3. All lots shall access onto the new subdivision road. This restriction shall be <br /> stated in a document describing development restrictions and requirements to <br /> be prepared by Planning Staff and recorded concurrently with the Final Plat. <br /> C. Land Use Buffers and Landscaping <br /> 1. Landscaping shall be installed or preserved as indicated on the approved <br /> landscape plan, and must be inspected and approved by tl'Planning and <br /> Inspections Department. <br /> OR <br /> Guaranteed financially through a letter of credit, escrow agreement, or bond <br /> submitted to secure required landscape installation and preservation. An <br /> estimate of the cost for required preservation, plantings and their installation <br /> must be provided. The financial guarantee.shall reflect 110 percent of the <br /> estimate and be issued by an accredited financial institution licensed to do <br /> business in North Carolina. <br /> 2. Provisions for protection of existing trees as shown on the approved landscape <br /> plan,shall be included in a document describing development restrictions and <br /> requirements to be prepared by Planning Staff and recorded concurrently with <br /> the Final Plat. <br /> D. Parkland <br /> 1. Cash in the amount of$245.00 [($2,859/acre x 3/35 acre)] shall be paid to <br /> Orange County as payment in lieu of parkland dedication. <br /> 2 <br />