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<br />CONSENT AGREEMENT <br />FOR THE Hallstead DEVELOPMENT <br />FOR CABARRUS COUNTY <br /> <br />THIS CONSENT AGREEMENT is entered into as of this 20th day of December, by and <br />among Morrison Creek, LLC, with its principal place of business at 227 W. Trade <br />St. Suite 900, Charlotte, NC 28202 the owners of the project more fully defined <br />below ("Developer") and CabarrusCounty, 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 />Commissioners. <br /> <br />RECITALS: <br /> <br />A. Developer is the oWner of approximately 155.52 acres of real property <br />located in the unincorporated area of Cabarrus County, and has proposed the <br />development of a subdivision in that location with a maximum of 475 single <br />family lots" currently known as the Hallstead 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 ofproiect. The Hallstead project covered by this Consent <br />Agreement consists of a single-family subdivision with 475 lots located on <br />approximately 155.52 acres in the unincorporated area of Cabarrus County, North <br />Carolina and has a density not to exceed 3.05 units per sross acre as shown on <br />the approved preliminary subdivision plan. Any changes in such approval must <br />be approved in accordance with the Cabarrus County Subdivision and Zoning <br />ordinances as of April, 2001, its 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 A and incorporated into <br />this Consent Agreement by this reference (the 'Property").. No property may be <br />added to the map description for purposes of this Consent Agreement, except by <br />written amendment. Except as expressly set forth in this Agreement with <br />respect to off-property road improvements, this Consent Agreement shall not <br />affect any land other than the Property. <br /> <br />V <br />.,;..r.. <br /> <br />f..3 <br />