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<br />
<br />
<br />CONSENT AGREEMENT
<br />FOR THE FIELDSTONE DEVELOPMENT PHASE 3
<br />FOR CABARRUS COUNTY
<br />
<br />THXS CONSENT AGREEMENT is entered into as of this 21st day of February, 2005 by
<br />and among Cold Springs, LLC, with its principal place of business at P.O. Box
<br />810, Concord, NC 28026 the owners of the project more fully defined below
<br />("Developer") and Cabarrus County, ,North Carolina, a political subdivision of
<br />the State of North Carolina, with its principal place of business at 65 Church
<br />Street, SE, Concord, North Carolina 28025 (hereafter, the .CountyMor .Cabarrus
<br />County") by and through its Cabarrus County Board of Commissioners.
<br />
<br />RECITALS:
<br />
<br />
<br />A. Developer is the owner of approximately 37 acres of real property located
<br />in the unincorp~rated area of'Cabarrus County, and has proposed the development
<br />of a subdivision"in that location with a maximum of 59 single family lots;
<br />currently known as the Fieldstone Subdivision, Phase 3 project (the "Project"l,
<br />to,be constructed in 'one,phase.
<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. 15311.-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 Eixercise 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. Theproject
<br />
<br />1. 1 Description of Project. The Fi,eldstone, Phase 3 proj ectcovered by this
<br />Consent Agreement presently consists of a single-family subdivision, presently
<br />consisting of 5,9 single " family lots located on approximately 37 acres in
<br />Cabarrus County, North Carolina. At the time of initial approval of the
<br />Project, the project may not exceed .63 units per gross acre of the Property,
<br />as set forth in' Exhibit A,attached to this Agreement and incorporated as if
<br />more fully set forth herein. Any changes in such approval must be approved in
<br />accordance with theCabarrus County Subdivision and Zoning Ordinances or its
<br />successor in interest.
<br />
<br />1.2 Legal DescriPtion of Property. The map description of the 'land
<br />covered by the Project is attached hereto as Exhibit B and incorporated into
<br />this Consent Agreement by,this reference ,(the .property"l. No property ,may, be
<br />added ,to the map description for purposes of this Consent,1\.greement, except by
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