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7417 <br />' 0281 <br />CABAkRUS COtIATY <br />FILED <br />03/27 j2007 9 s 30 11ti <br />LI11DJh F. MC7~BEE <br />RQglst Duds <br />By. ~puty/A6st, <br />EXCISE Tl~7C $0.00 <br />EASEMENT AND RESTRICTION AGREEIVIENT <br />EG.-~~92 <br />Prepared by and File; Samuel F. Davis, Jr., Hartsell & Williams, P.A., Concord, NC <br />THIS EASEMENT AGREEMENT made and entered into as of the 23rd day of March <br />2007 by and between REAL VALUE DEVELOPMENT, INC., a North Carolina corporation, <br />{"Development") and WACHOVIA BANK, NATIONAL ASSOCIATION, TRUSTEE <br />UNDER THE WILL OF W.'V~'. FLOWE, ("Trustee"). <br />RECITALS: <br />A. On this date, Development has purchased certain lands ("Development's <br />Purchased Lands") consisting of 17.52 acres from Herman L. Barringer, four tracts, 9.657 acres, <br />4.946 acres, 25.004 acres, and 4.996 acres, from John A. Linker, 28.343 acres from Willie R. Lee <br />and Patsy E. Lee, and 7.695 acres from Timothy R. Lee, as shown on the Boundary Survey for <br />Real Value Development, Inc. by Concord Engineering & Surveying, Inc. dated March 20, 2007 <br />("Survey„). <br />B. Trustee is the owner of 53.27 acres ("W. W. Flowe Lands") lying on the west side <br />of Central Heights Drive, as shown on the Survey. The lands comprising W. W. Flowe Park, a <br />public park owned by Cabarrus County and operated by the City of Concord, which are located <br />across Central Heights Drive from the W. W. Flowe Lands, were o~vned by W. W. Flowe and <br />were donated to Cabarrus County far park purposes by Mr. Flowe's daughter, Mary Lore Flowe <br />Brown. Prior to her death, Mrs. Brown had stated that it was her intention at her death to cause <br />the W. W. Flowe Lands to be given to Cabarrus County for park purposes. <br />C. Development and Trustee entered into an Exchange Agreement dated February <br />27, 2007 providing for an exchange of lands, pursuant to which Development agreed to exchange <br />part of the Development Purchased Lands for part of the W. W. Flowe Lands. Development <br />intends to develop its land as a residential subdivision, and the exchange of land gives <br />Development access to Central Heights Drive, which enhances its development. The Tn~stee <br />desires to protect the W. W. Flowe lands for the intended public park use against infringement, <br />restraint, and restrictions resulting from surxounding residential development. As part of the <br />consideration for the exchange of lands, Development and Trustee have agreed to certain <br />~~ <br />_ _ .. .. _._._.. Attachment number 2 <br />Page 327 of 362 <br />G-1 <br />