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121 <br /> Attachment 4 <br /> RESOLUTION OF THE <br /> ORANGE COUNTY BOARD OF COUNTY COMMISSIONERS <br /> Date of Meeting: [TBD] <br /> Name of Subdivision: The Lodges at Chapel Hill Subdivision <br /> Owners: Broyhill Wiles Building and Developing Inc. <br /> Applicant: Broyhill Wiles Building and Developing Inc. <br /> The Board of County Commissioners hereby approves a modification to RES2010-028 <br /> which approved The Lodges at Chapel Hill Preliminary Plat. Section B.1 of the Resolution <br /> is hereby approved to read as follows: <br /> B. Roads and Access <br /> 1. The owner/applicant shall, prior to the approval and recording of the Final Plat, <br /> construct the private road (including any intersections and alignments), to, at a <br /> minimum, Class A private road standards, as contained in Section 7.8.5 of the <br /> Orange County Unified Development Ordinance. <br /> OR <br /> The owner/applicant shall submit a letter of credit or cash bond to secure <br /> construction of the above private road improvements. The estimate shall be <br /> submitted by a certified/licensed engineer, grading contractor or other <br /> individual qualified to calculate the cost to complete the improvements <br /> according to approved plans and specifications, who has no direct or indirect <br /> ownership interest in the subdivision. The financial guarantee shall reflect one <br /> hundred ten (110) percent of that construction cost estimate and an accredited <br /> financial institution licensed to conduct business in North Carolina shall issue <br /> such financial guarantee. The financial guarantee shall be effective for 372 <br /> days after the County Manager signed the Certificate of Improvements. <br /> The document describing development restrictions to be recorded with the <br /> Final Plat shall state that the County shall not release the financial guarantee <br /> until the inspections and certifications listed in Section 7.8.5(F) of the Orange <br /> County Unified Development Ordinance have been received by the Planning <br /> Director. <br /> All other Sections, including the remaining subsections of B, remain in effect as written in <br /> RES-2010-028. <br /> NOW THEREFORE BE IT RESOLVED by the Board of Orange County <br /> Commissioners that Section B.1 of RES-2010-028 is hereby amended as shown <br /> above. <br />