Agenda - 06-03-2008-5b3a - Laserfiche WebLink

Browse Search

PART SIX -OWNERSHIP AND MANAGEMENT: The BVPD infrastructure, improvements, offsite road improvements and right of way modification(s) and alteration(s) will be constructed in accordance with the various standards, policies, and plans included, and as referenced, herein. With respect to the overall management and upkeep of the property, the following standards shall apply: 1. Bonds/Letters of Credit: Buckhorn Road Associates, LLC (hereafter `B.R.A.') shall post bonds, or provide letters of credit, in sufficient amount to cover the cost for all facets of the development project including, but not limited to: a. Offsite road improvement work, if that work does not commence immediately after receiving approval from NC DOT or if the work is connected to a future phase of the project and is not intended to commence until construction of that phase of the project commences. b. Internal and external landscaping and Open Space management, c. Internal road improvements where construction of roadways within a specific District is not completed as demand does not warrant the expense, d. Erosion ControUGrading/Stormwater facilities, e. Utility systems (i.e. water and/or sewer lines) on a case-by-case basis, BRA will post bonds or have its contractor post bonds for work in an amount sufficient to cover the cost of the work if required at time of approval to do the work plus ten percent (10%). BRA will continue to maintain the bond until the designated, agreed upon expiration date of the bond, subsequent to final approval of the work. 2. Dedications and Easements: BRA shall establish all necessary cross access easements to allow for unfettered public use/access to local roadways and sidewalks. BRA shall also establish any and all necessary easements for the utility systems and provide access points to any and all necessary parties for maintenance and service related activities. 3. Guarantees: BRA will supply guarantees for all worlc done within. public right of ways, for a period of one (1) year as required, or up to such time as may be required at completion of improvements. 4. Agreements, Contracts and Deed Restrictions: BRA will incorporate any and all restrictions, as outlined herein, into the leases or individual sale documents for either tenant lease areas or sale of out parcels, or land leases that will insure that the approved design and use of buildings and common areas will be maintained through the intended life of this project. 43