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4 <br />B. Roads and Access <br />1. Hope Valley Drive and New Hope Springs Drive shall be constructed to <br />standards of the North Carolina Department of Transportation, within 50 -foot <br />rights -of -way, and the construction shall be inspected and approved by <br />NCDOT. <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 10' by 70' sight triangle shall be shown at the New Hope Springs Drive <br />entrance of the subdivision. <br />4. A left turn lane for Hope Valley Drive and a right turn taper for New Hope <br />Springs Drive shall be constructed or secured for construction prior to <br />approval of the Final Plat for Section One. <br />5. 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 />6. 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 />7. Extend New Hope Springs Drive to connect with Davis Road, providing a <br />second entrance to the subdivision. The intersection shall not occur west of <br />the intersection of Marklyn Place and Davis Road. <br />