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4 <br /> B. Roads and Access <br /> 1. Elizabeth Walters Road shall be constructed to standards of the North Carolina <br /> Department of Transportation, within a 50-foot right-of-way, and the <br /> construction shall be inspected and approved by NCDOT. <br /> OR <br /> A letter of credit, escrow agreement, or bond shall be submitted to secure <br /> construction of Elizabeth Walters Road 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. Austin Peck Trail and McArthur Park Road shall be constructed to Class A <br /> private road standards within a 50-foot right-of-way, and Leland Lane shall be <br /> constructed to Class B private road standards within a 50-foot right-of-way. <br /> Each of the above-mentioned private roads shall be inspected, and the <br /> construction certified in writing to the Orange County Planning Department by <br /> a North Carolina Professional Engineer, or a North Carolina Registered Land <br /> Surveyor. The location of the travelway within the platted private road right- <br /> of-way shall also be certified. <br /> OR <br /> A letter of credit, escrow agreement, or bond shall be submitted to secure <br /> construction and inspection of above-mentioned roads to the indicated private <br /> road class. An estimate of the construction and certification costs 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 certified by a North Carolina Professional Engineer <br /> or a North Carolina Registered Land Surveyor. <br /> 3. A Private Road Maintenance Agreement for Austin Peck Trail, McArthur Park <br /> Road and Leland Lane shall be received by the Planning Department and <br /> approved by the County Attorney. The Road Maintenance Agreement shall <br /> reference the dedication of right-of-way for Elizabeth Walters Road and <br />