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Building or other permits shall be issued only for the erection of a structure <br />on any lot of record prior to the adoption of this Ordinance or created in <br />compliance with this ordinance and meeting all requirements of applicable <br />State and local laws. <br /> <br />Section 66-7~J15. Letter of credit/performance bond requirements <br /> <br />When building permits are requested prior to completion of all improvements in a <br />development, the following conditions shall apply <br /> <br />1. Detailed estimates of all required improvements shall be submitted. The <br />estimates shall be signed by licensed contractor(s) or engineer(s) when applicable. <br /> <br />I'Ins change reflects <br />the cuncnt fee <br />soho( [fie <br /> <br />2. These estimates shall be reviewed and approved by a consulting engineer <br /> chosen by the County ..... I ..... , I .... k~..~, ~ ........ ~ ..¢ . <br /> <br /> ~'": ~(' ¢"~ for ~'" ,,. ...... The applicant for a bond/letter of credit shall be <br /> responsible for all costs associated with the outside engineering review. <br /> <br />3. A letter of credit or performance bond by a lender of surety acceptable to the <br />County shall be made out to Cabarrus County in the amount of 125% of the costs <br />determined in step 2 above. <br /> <br />4. The final map of the subdivision shall be approved and recorded. <br /> <br />Prior to the reduction or release of the 125% amount required in step 3 above for <br />completion of improvements(s), the following information must be provided when <br />applicable: <br /> <br />1. Proof satisfactory to the County that the applicable improvement(s) has been <br />made to the required specifications. <br /> <br />2. Proof satisfactory to the County that payment in full has been made to the <br />applicable contractor and/or agency for the improvement(s). <br /> <br />Upon proof of completion satisfactory to the County, of the required improvement(s), the <br />amount that had been required for that improvement(s) may be released from the total <br />amount required. The total amount of the letter of credit or bond for required <br />improvements may be released when all improvements are complete, and the above <br />information has been provided. The county may employ a consultinq engineer to review <br />requests for full or partial releases. The applicant shall be responsible for all costs <br />associated with the outside enqineerinq review. <br /> <br />361. <br /> <br />/:-'-3 <br /> <br /> <br />