AG 2008 02 18 - Laserfiche WebLink

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STATE OF NORTH CAROLINA AGREEMENT COUNTY OF CABARRUS THIS AGREEMENT ("Agreement") is made this day of January, 2008, by J&B DEVELOPMENT AND MANAGEMENT, INC., a North Carolina corporation ("J&B Develop- ment"), MOSS CREEK VILLAGE MASTER ASSOCIATION, INC., a North Carolina nonprofit corporation ("Moss Creek Association"), CABARRUS COUNTY BOARD OF EDUCATION ("Board of Education"), and CABARRUS COUNTY, a body politic and political subdivision of the State of North Carolina ("County"). STATEMENT OF PURPOSE J&B Development is the developer of The Villages at Moss Creek ("Moss Creek"), a mixed-used community consisting of residential dwellings, commercial office buildings, and ex- tensive community amenities and common areas situated between Harris Road, Odell School Road, State Highway 73 and the Rocky River in the city of Concord, Cabamrs County, North Carolina. As part of its development of Moss Creek, J&B Development is creating a walking, hiking and biking trail ("Trail") with interpretative educational signage that will spotlight the in- digenous flora and fauna. The Trail will run parallel to the Rocky River from the residential community to the neighboring schools, Harris Road Middle School and Odell Elementary School (collectively, the "Schools"). The Trail commences within Moss Creek, upon to real property recently conveyed by deed from J&B Development to Moss Creek Association, crosses onto real property of the Schools owned by County and ends at the parking lots for each of the two Schools. The parties now desire to set forth an agreement regazding the construction, maintenance and use of the Trail and all other responsibilities arising therefrom. AGREEMENT FOR AND IN CONSIDERATION OF the mutual covenants, warranties and promises herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereby agree as fol- lows: 1. Construction of the Trail. a. J&B Development shall bear the sole cost of construction of the entire Trail and all improvements associated therewith, including boardwalks and bridges at stream crossings and educational interpretive signage along the Trail, from its start within Moss Creek to its end at the parking lots of the Schools, as the same is shown on a map of the Trail attached hereto as Ex- hibit A. G-G 1