Reduction of Security. Once all of the required improvements are at least 50% complete, as certified by a North Carolina Registered Professional Engineer, the developer may request, subject to County approval, a reduction in the total financial security by the ratio that the completed improvements bear to the total estimated cost of improvements required, provided that no more than one such reduction may be permitted prior to releasing the performance guarantee.
Appears in 4 contracts
Samples: Stormwater Improvements Performance Guarantee Agreement, Stormwater Improvements Performance Guarantee Agreement, Stormwater Improvements Performance Guarantee Agreement
