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(E) <br />The Planning Director shall cause an analysis to be made of the agreement by <br />qualified representatives of Orange County and other agencies or officials as <br />appropriate. Once approved, the document shall be recorded at the Orange <br />County Register of Deeds office. <br />The property owner assumes all financial and legal responsibility for the <br />perpetual maintenance and upkeep of the approved SCM. <br />(6) The property owner shall assume all costs associated with the preparation and <br />recordation of new plat(s)/development restrictions detailing the allowable <br />impervious surface limit(s) for the property after the SCM has been approved by <br />Orange County. <br />(7) The property owner, at its cost and expense, shall be required to execute and file <br />with Orange County a Performance Guarantee to cover the cost of removal of a <br />SCM, and any additional impervious surface area installed as the result of its <br />approval, in the event the SCM is failed to be maintained in accordance with the <br />recorded operations agreement. The Performance Guarantee shall comply with <br />the provisions of Section 6.22 of this Ordinance. <br />(E) If all of the criteria of Section 4.2.4(A) are satisfied, an applicant may elect to apply the <br />preexisting development regulations, as specified in Section 6.14(C).1 <br />1 Per NCSL23-137 <br />120