Local IIS 7.0 - CS0016: Could not write to output File

Local IIS 7.0 - CS0016: Could not write to output file / Microsoft.Net > Framework > v4.0.30319 > Temporary ASP.NET Files | Solution to an annoying error message! You are getting 'Could not write to output file 'c:\Windows\Microsoft.NET\Framework\....' message? You are at the right place.