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G <br />A letter of credit, escrow agreement, or bond shall be submitted to secure <br />construction of Hope Valley Drive and New Hope Springs Drive to the <br />standards of the North Carolina Department of Transportation. An estimate of <br />the construction cost must be prepared by a certified /licensed engineer or <br />grading contractor and submitted to the Planning and Inspections Department. <br />The financial guarantee must reflect 110% of that estimate and be issued by an <br />accredited financial 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. 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 />3. A left turn lane for Hope Valley Drive shall be constructed or secured for <br />construction prior to approval of the Final Plat for Section One. <br />4. Lots 9 through 12, shall access onto New Hope Springs Drive. Lots 1 and 26 <br />shall access onto Hope Valley Drive. All lots shall access onto the new <br />subdivision roads. This restriction shall be stated in a document describing <br />development restrictions and requirements to be prepared by Planning Staff <br />and recorded concurrently with the Final Plat. <br />5. Approved street name signs shall be erected at the intersection of streets as <br />required in Section IV- B- 3 -c -12 of the Orange County Subdivision <br />Regulations. Evidence shall be submitted by the applicant that the signs are in <br />place or a copy of the receipt for purchase of the signs shall be submitted to <br />the Planning Department. <br />6. Dedicate to Orange County, on behalf of the public, the right -of -way for <br />extending New Hope Springs Drive to connect with Davis Road, which may <br />provide a second entrance to the subdivision. The intersection shall not occur <br />west of the intersection of Marklyn Place and Davis Road. <br />7. Provide a temporary turnaround in the location of the proposed cul -de -sac on <br />the northern end of New Hope Springs Drive. <br />8. As part of the development of Section Two, New Hope Springs - South, the <br />applicant shall either: <br />a. Extend New Hope Springs Drive to connect with Davis Road to <br />provide a second entrance to the subdivision, eliminate the temporary <br />.turnaround, and provide a 10'x70' sight triangle at Davis Road; <br />RO <br />b. Provide a different second access to the subdivision. If the second <br />access is approved by Orange County, the right -of -way for the <br />