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WOMBLE <br />CARLYLE <br />SANDRIDGE <br />& RICE <br />A PROFESSIONAL LIMITED <br />LIAOILITY COMPANY <br />One Wachovia Center <br />301 South College Street <br />Suite 3500 <br />Charlotte, NC 28202-6037 <br />Ttlcphone: (704) 331-4900 <br />Fax: (704) 331-4955 <br />www.wcsr,com <br />Philip S. Runkel <br />Ditect Dial: (704) 331-4909 <br />Direct Fax: (704) 343-4866 <br />E-mail: prunkel@wcsr.com <br />August 14, 2008 <br />BY FEDERAL EXPRESS <br />Archie Barringer <br />2271 Jenna Shayne Drive <br />Fayetteville, NC 28306 <br />Re: 28 acres of real property off Miami Church Road, Cabarrus County, NC <br />Dear Mr, Barringer: <br />Enclosed is an Agreement to Sell and Purchase Real Estate. for the above-referenced <br />property. The attached Agreement is a new and distinct offer from what was previously agreed <br />to in the contract dated November 19, 2007 and which was terminated by the Cabarrus County <br />Board of Education, however, it has the same material terms as the previously terminated <br />contract (and subsequent offers and new proposed contracts), I am also forwarding a copy of this <br />to James Scarborough, who I have been told is now representing you in this matter. Please <br />contact me should you have any questions regarding this matter, <br />PSR <br />Enclosure <br />cc: Sam Masters <br />James Scarborough, Esq. (by e-mail) <br />Mark Henriques, Esq. <br />w GSL ORGIAt3SVO V"I'H CARO LIhA /NORTH CAROLINA /VIRGINIA /WASHINGTON, D.f-. /MARYLAND / DCLAWAAG <br />