§ 5.2. Responsibility for improvements.

A.

The applicant is responsible for providing all required improvements in conformance with the requirements of this ordinance and any other applicable ordinances, codes, rules, or regulations. All costs associated with the installation of said improvements remains the responsibility of the applicant and any bond or other fiscal surety posted as a condition of approval may not be released until construction has been inspected and approved by the appropriate engineer or regulating authority (see section 3.2.8.E, performance guarantee). The following forms of fiscal surety will be accepted:

Cash
Cashier's check
Certified check
Surety bond
Letter of credit

Any other form of surety must be approved by the Isle of Wight County Attorney prior to acceptance.

B.

The amount of such fiscal surety shall not exceed the total of the estimated cost of construction based on unit prices for new public or private section construction in the county and a reasonable allowance for estimated administrative costs, inflation, and potential damage to existing roads or utilities, which shall not exceed ten (10) percent of the estimated construction costs. (9-24-09.)