<br />CONSENT AGREEMENT
<br />FOR THE Christenbury FarmB DEVELOPMENT
<br />FOR CABARRUS COUNTY
<br />
<br />THIS CONSENT AGRBBMBNT {bareafter, Bometimes MConsent Agreement" and sometimes
<br />~AgreementH)iB entered into as of this ____ day of December, 2005 by and
<br />between Clarke Creek Land Company, LLC, a North Carolina limited liability
<br />company with its principal place of business at 1910 South Boulevard, Suite
<br />200, Charlotte, NC 28203 (hereafter, ~Land Owner"), owner of the Property
<br />(defined below), and Cabarrus county, Horth Carolina, a political subdivision
<br />of the State of North Carolina, with its principal place of business at 65
<br />Church Street, SE, Concord, North Carolina 28025 (hereafter, the "County" or
<br />"Cabarrus county") by and through its Cabarrus county Board of Commissioners.
<br />
<br />RECITALS:
<br />
<br />A. The property has been approved for development of a multi-phased
<br />subdivision with a maximum of four hundred seventy-seven (477) single family
<br />lots and multi-family units, currently known as the Christenbury, Villages A,
<br />B, C, D project (the "Project"), and a commercial village (hereafter, the
<br />"Commercial Village"). The portion of the Property within which the project is
<br />to be located is hereafter referred to as the "Project property.
<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. Land Owner is willing to provide for advancement of public services
<br />and facilities for the project and to agree to certain other considerations to
<br />address Cabarrus County adequate facility standards and provide for advancement
<br />of 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 Project covered by this Consent Agreement
<br />consists of a single-family and multi-family subdivision with a maximum of four
<br />hundred seventy-seven (4??) lots located on approximately 236.809 (total of
<br />254.909 acres, less 18.1 acres Commercial Village) acres in City of Concord,
<br />North Carolina as shown on the approved preliminary subdivision plan
<br />(hereafter, the "preliminary Plan"). Any changes in such approval must be
<br />approved in accordance with the City of Concord Unified Development Ordinance
<br />(UDO) or its successor ordinance. Land Owner does not expect to develop any
<br />portion of the Project. However, entities engaged in the business of developing
<br />residential building lots are interested in acquiring from Land Owner
<br />undeveloped tracts within the Project and developing on those tracts
<br />residential building lots. Furthermore, to Land Owner's knowledge, homebuilders
<br />anticipating the purchase of residential building lots from said residential
<br />lot developers expect homes within the Project to become available for sale to
<br />the public on the following general time frame:
<br />2006, on the order of one hundred (100) homes;
<br />2007, on the order of one hundred twenty (120)
<br />2008, on the order of one hundred twenty (120)
<br />2009, on the order of one hundred twenty (120)
<br />2010, on the order of twenty (20) homes;
<br />
<br />homes;
<br />homes;
<br />homes;
<br />
<br />and
<br />
<br />)-1- &,
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