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<br />i' <br /> <br />CONSENT AGREEMENT <br />FOR THE BEDFORD FARMS DEVELOPMENT <br />FOR CABARRUS COUNTY <br /> <br />THIS CONSENT AGREEMENT is entered into as of this 30th day of October, 2006, by <br />and among Niblock Development Corp. with its principal place of business at 300 <br />McGill Ave. NW, Concord, NC 28027, the owners of the project more fully defined <br />below ("Developer") and Cabarrus County, North Carolina, a political <br />subdivision of the State of North Carolina, with its principal place of <br />business at 65 Church Street, SE, Concord, North Carolina 28025 (hereafter, the <br />"County" or "Cabarrus County") by and through its Cabarrus County Board of <br />Conunissioners. <br /> <br />RECITALS: <br /> <br />A. Developer is the owner of approximately 116.89 +j- acres of real <br />property located in the City of Concord, Cabarrus County, and has proposed the <br />development of a subdivision in that location with a maximum of 166 single <br />family lots, currently known as the Bedford Farms subdivision project (the <br />"Project"), to be constructed in multiple phases. <br /> <br />B. The Project is subject to the Adequate Facilities Provisions of the <br />Cabarrus County Subdivision Ordinance, Chapter 4 Section 17, and to best <br />knowledge of the County, has been reviewed by all public agencies which may <br />potentially serve the Project and its future residents. <br /> <br />C. Developer is willing to advance public services and facilities for the <br />Project and to agree to certain other considerations to address Cabarrus County <br />adequate facility standards and advance these services and facilities. <br /> <br />D. Cabarrus County, acting pursuant to its authority under G.S. 153A-330 <br />to 335, and the applicable provisions of the Cabarrus County Subdivision <br />Regulations, has made certain determinations with respect to the proposed <br />Project, and, in the exercise of its legislative discretion, has elected to <br />process the Project, resulting in the negotiation, consideration and approval <br />of this Consent Agreement after all necessary hearings. <br /> <br />CABARRUS COUNTY AND THE DEVELOPER HEREBY AGREE AS FOLLOWS: <br /> <br />1. The Project <br /> <br />1.1 Description of Proiect. The Bedford Farms Project covered by this <br />Consent Agreement consists of a single-family subdivision with 166 lots located <br />on approximately 116.98 +/- acres in Concord, North Carolina and has a density <br />not to exceed 1.42 as shown on the approved preliminary subdivision plan. Any <br />changes in such approval must be approved in accordance with the City of <br />Concord Unified Development Ordinance (UDO) or its successor in interest. <br /> <br />1.1A. Timinq and Phasinq of Proiect. Absent a separate agreement by and between <br />Landowners/Developers, its or their successors or assigns, and the County <br />formally approved by the Board subsequent to this Consent Agreement, <br />LandownerS/Developers, on its (their) own behalf and that of its (their) <br />successors and assigns, agree that homes within the Project shall become <br />available for occupancy upon the rate, time frame, or schedule set forth <br />hereinafter, the total number of which may be accumulated (i.e. the total <br />number of homes available for occupancy in a subsequent year or years shall <br /> <br />&-'3 <br />