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July 26, 2004 Page 570 Plaintiffs will submit petitions for voluntary annexation of the lots in Brandon Ridge Subdivision and Park Place Subdivision into Concord at the same time as applications for final plat approval of each phase of the subdivisions are submitted to Cabarrus County for approval, but prior to the conveyance of any lot on any such recorded final plat. The parties agree that the effective date of any ordinance of annexation enacted by Concord upon such petition shall be the latest date allowable under applicable law, up to a maximum of twenty-four months from the date of adoption of the annexation ordinance. Concord and Plaintiffs agree to work together to seek and to support local legislation authorizing such twenty-four month delayed effective date, notwithstanding any contrary or different provisions of the General Statutes of North Carolina applicable to such petitions for voluntary annexation. Due Authorization. Each party warrants to every other party that it has the requisite capacity and authority to enter into and to perform the terms of this mediation agreement and that all actions have been taken necessary to duly authorize the execution and performance of this agreement, subject only to the necessity to obtain the local enabling legislation referred to in item G (2) herein. Time to Execute. This Agreement shall be executed by all parties no later than 5:00 PM on July 9, 2004. In witness whereof, the parties have executed this agreement this the 8¢~ day July, 2004. ATTEST: /s/ Rainae Little Secretary ATTEST: /s/ Rainae Little Secretary ATTEST: /s/ Vickie Weant Vickie Weant, City Clerk ATTEST: /s/ Frankie F. Bonds County Clerk ATTEST: /s/ Frankie F. Bonds District Clerk Plaxntiffs: Craft Development LLC By: /s/ Dan Johnson Craft Homes USA LLC By: /s/ David Cuthbertson Defendants: City of Concord By: /s/ Scott Padqett Scott Padgett, Mayor County of Cabarrus By: /s/ Robert M. Freeman Robert Freeman, Chairman Water and Sewer District of Cabarrus County By: ES/ Robert M. Freeman STATE OF NORTH ~AROLINA COUNTY OF CABARRuS J. ROBERT MORRISON and wife MARY WHITE MORRISON; JAMES) ROBERT MORRISON and MARRY) WHITE MORRISON, Co-Trustees of} The J. R. Morrison Living Trust; and) MORRISON CREEK, LLC,) Plaintiffs, ova - IN THE ~EN-EP, AL COURT OF JUSTICE SUPERIOR COURT DIVISION Pile No. 03 CVS 2462