PURPOSE OF LAND DEVELOPMENT BOND (choose one of the following): To guarantee installation of improvements for the Project as specified in the approved plans for the Project and in accordance with the applicable ordinance until Mecklenburg County and governing jurisdiction’s final approval. Construction Infrastructure -3 years BMP Infrastructure (prior to as-built) 3 years – BMP Infrastructure (prior to as-built for release of CO only) 6 months – To guarantee maintenance and repair of improvements for the Project as specified in the approved plans for the Project and in accordance with the applicable ordinance until Mecklenburg County and governing jurisdiction’s final approval. Subdivision Roadway Maintenance (80%) - 2 years from the date Town Board accepts streets. Road Way Maintenance process and packet must be submitted to the applicable Town 60 days or greater prior to the bond expiration date. Subdivision Roadway Maintenance (25%) - 1 year from the date that lot build-out is complete for streets accepted by Town Board BMP Maintenance 1 year from the as-built approval date. – BMP Maintenance for Post Construction - 2 years from the as-built approval date. GENERAL INFORMATION: The Mecklenburg County approved Letter of Credit wording must be used. All other will be reviewed by Mecklenburg County Attorney and all expenses incurred will be required by the applicant, payable to Mecklenburg County Land LUESA prior to acceptance of the bond. Bond Fee Schedule: Fees are subject to change. $370 New Land Development Bond Fee $370 Land Development Bond Renewal Fees - Payable every year after the 4th year $370 Land Development Bond Reduction $370 Replacement of Security of Land Development Bond $370 Release of a Land Development Bond Older than 4 years Principal/Developer: By: ___________________________________ (SEAL) Print: ___________________________________ Title: ___________________________________
PURPOSE OF LAND DEVELOPMENT BOND (choose one of the following): To guarantee installation of improvements for the Project as specified in the approved plans for the Project and in accordance with the applicable ordinance until Mecklenburg County and governing jurisdiction’s final approval. Construction Infrastructure -3 years BMP Infrastructure (prior to as-built) – 3 years BMP Infrastructure (prior to as-built for release of CO only) – 6 months To guarantee maintenance and repair of improvements for the Project as specified in the approved plans for the Project and in accordance with the applicable ordinance until Mecklenburg County and governing jurisdiction’s final approval. Subdivision Roadway Maintenance (80%) - 2 years from the date Town Board accepts streets. Road Way Maintenance process and packet must be submitted to the applicable Town 60 days or greater prior to the bond expiration date. Subdivision Roadway Maintenance (25%) - 1 year from the date that lot build-out is complete for streets accepted by Town Board BMP Maintenance – 1 year from the as-built approval date. BMP Maintenance for Post Construction - 2 years from the as-built approval date. GENERAL INFORMATION: The Mecklenburg County approved Letter of Credit wording must be used. All other will be reviewed by Mecklenburg County Attorney and all expenses incurred will be required by the applicant, payable to Mecklenburg County Land LUESA prior to acceptance of the bond. Bond Fee Schedule: Fees are subject to change. $370 New Land Development Bond Fee $370 Land Development Bond Renewal Fees - Payable every year after the 4th year $370 Land Development Bond Reduction $370 Replacement of Security of Land Development Bond $370 Release of a Land Development Bond Older than 4 years Principal/Developer: By: ___________________________________ (SEAL) Print: ___________________________________ Title: ___________________________________