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CONSENT AGREEMENT <br />FOR THE MAGNOI TA SPRZNGS DEVELOPMENTt <br />FOR CABARRUS COUNTY <br /> <br />This Consent Agreement is entered into as of this 21st day of 3ulv, by and <br />among Saturday Investments, LLC, the owners ("Developer'3 of the Project and <br />Cabarrus County, a political subdivision of the State of North Carolina, by and <br />through its Cabarrus County Board of Commissioners. <br /> <br />RECITALS: <br /> <br /> A. Developer is the owner of approximately 79.45 acres of real property <br />located in cabarrus County (76.98 not including ROW and commercial out <br />parcels), and has proposed the development of a subdivision with 200 single <br />family lots in the Magnolia Springs project (the "Project'S, to be constructed in <br />multiple phases. <br /> <br /> B. The Project is subject to the Adequate Facilities Provisions of the <br />(;:~barrus County Subdivision Reoulations, Section 66-81, and has been reviewed <br />by all public agencies which may potentially serve the project and its future <br />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 />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 Subdivision Regulations, has made certain determinations with <br />respect to the proposed Project, and, in the exercise of its legislative discretion, <br />has elected to process the Project, resulting in the negotiation, consideration and <br />approval of this Consent Agreement after all necessary hearings. <br /> <br /> CABARRUS COUNTY AND THE DEVELOPER HEREBY AGREE AS <br />FOLLOWS: <br /> <br />The Project <br /> <br />De$criotion of Proiect. The Magnolia Springs Project covered by <br />this Consent Agreement presently consists of a single family lot <br />subdivision located on approximately 76.98 acres. Any chanqes <br />must be in accordance with the cabarrus Count~ Subdivision <br />Requlations and Zoninq Ordinance, and may not to exceed 2.6 <br />units per aross acre of the Prooertv. [Attachment] <br /> <br />1.2 <br /> <br />Legal Description of Pr0oertv. The map description of the land <br />covered by the Project is attached hereto as Exhibit A and <br />incorporated into this Consent Agreement by this reference (the <br />"Property'S. No property may be added to the map description for <br />purposes of this Consent Agreement, except by wdtten <br /> <br /> <br />