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5 <br />3. The owner shall enter into an ownership, maintenance and <br />warranty agreement with the County. This agreement will <br />address and codify the conditions of the construction <br />warranty and hold harmless guarantee from the owner to the <br />County in regard to short and long term construction damage <br />to existing property and structures. <br />B. Roads and Access <br />1. Rod and Reel Road and Angler Lane shall be constructed to <br />standards of the North Carolina Department of Transportation, <br />within a 50 foot right -of -way, and the construction shall be <br />inspected and approved by NCDOT. <br />A letter of credit, escrow agreement, or bond shall be <br />submitted to secure construction of Rod and Reel Road and <br />Angler Lane to the standards of the North Carolina Department <br />of Transportation. An estimate of the construction cost must <br />be prepared by a certified /licensed engineer or grading <br />contractor and submitted to the Planning and Inspections <br />Department. The financial guarantee must reflect 110% of <br />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 <br />recorded with the Final Plat shall state that the financial <br />guarantee will not be released until the road construction <br />has been inspected and approved by NCDOT. <br />2. The intent for future extension of Rod and Reel Road shall be <br />indicated on the Final Plat by the words "Subject to Future <br />Extension ". <br />3. Approved street name signs shall be erected at the <br />intersection of streets as required in Section IV- B- 3 --c -12 of <br />the Orange County Subdivision Regulations. Evidence shall be <br />submitted by the applicant that the sign is in place or a <br />copy of the receipt for purchase of the sign shall be <br />submitted to the Planning Department. <br />4. Offer for public dedication an additional 20 feet of right - <br />of -way along U.S. 70. <br />C. Land Use Buffers and Landscaping <br />1. Landscaping shall be installed or preserved as indicated on <br />the approved landscape plan, and must be inspected and <br />approved by the Planning and Inspections Department. <br />W7 <br />