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CONSENT AGREEMENT .FOR THE COLONIAL HILLS DEVELOPMENT PHASE 2 FOR CABARRUS. COUNTY THIS CONSENT AGREEMENT is entered into as of this 21st day of February, 2005 by and among pacajero Realty LLC, with its principal place of business 1220S. Kings Dr, Charlotte, NC 28207 the owners of the project more fully defined below ("DeveloperOl) and Cabarrus County, North Carolina, a political subdivision of the State of North Carolina, with its principal place of business at 65 Church Street, SE, Concord, North Carolina 28025 (hereafter, the "County" or "Cabarrus County") by and through its Cabarrus County Board of Commissioners. RECITALS: A. Developer is the owner of approximately 23 acres of real property located .in the unincorporated area of Cabarrus County, and has proposed the development of a subdivision in that location with a maximum of 20 single family lots, currently known as the Colonial Hills Subdivision, Phase 2 project (the "proj ect"), to be . constructed in one phase. B. The proj ect. issubj ect to the Adequate Facilities provisioris of the Cabarrus County Subdivision Ordinance, Chapter 4 Section 17, and to best knowledge of the County, has been reviewed by all public .agencieswhich may. potentially serve the Project and its future residents. C. Developer is willing to advance public services and facilities for the. project and to agree to certain other considerations to address Cabarrus County adequate facility standards and advance these services and facilities. D. Cabarrus County, acting pursuant .to its authority under G.S. 153A~330 to 335, and the applicableprovisioris of the Cabarrus County Subdivision Regulations, has made certain determinations with respect to the proposed Project, and, in the exercise of its legislative discretion,has elected to process the project, resulting iri the negotiation, consideration and approval. of this Consent Agreement after all necessary hearings. CABARRUS COUNTY AND THE DEVELOPER HEREBY AGREE AS FOLLOWS: 1. The project 1.1 DescriPtion of Project. The Colonial Hills, Phase 2 Project covered by this Consent Agreement presently consists .of a single-family subdivision, presently consisting of 20 single-family lots located on approximately 23 acres in Cabarrus County, North Carolina. At the time of initial approval of the Project, the Project may not exceed .98 units per gross acre of the Property, as set forth in Exhibit. A, .attached to this Agreement and incorporated .as if more fully set forth herein. Any changes in such approval must be approved in accordance with the Cabarrus County Subdivision and Zoning Ordinances or its successor in interest. 1.2 Legal Description of Property. The. map description of the land covered by the Project is attached hereto. as Exhibit B and incorporated into this Consent Agreement by this reference (the ~Property"). No property may be