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--Womble Carlyle -CH;J% 1/18/00 5:54: PAGE 002/3 RightFAX <br /> <br />J & B Management and Development, Inc. <br /> 6104- C_.~ c ck~'~ ¢ w <br /> Harrisbu~l]. No~h Carolina 28075 <br /> T¢lcpham C/04) 454-7163 <br /> Facslmilc (704) 454-71.64 <br /> <br />January 18, 2000 <br /> <br />Mr. Frank Clifton <br />County Manager <br />Cabarrus County <br />P.O. Box 707 <br />Concord, No~h Carolina 2g026-0707 <br /> <br />Exchange of ApIroJdmately 62 Acres of Real Estate on Harris Road in <br />Cabarrus County, North Carolina for Existing Pro!aerty Known as Odell <br />Elementary School <br /> <br />Dear Mr. Clffion: <br /> <br /> The purpose of this letter is to set forth a formal proposal by J&B Management and <br />Development, Inc., a North Carolina corporation, ("J&B") to Cabarrus County, North Carollna~ a <br />political subdivision of the state of North Carolina, ("County") for the exchange of the Odell <br />Elementary School real property currently ovmed by the Count3', or the Cabarms County. Board <br />of E du cation, for approximately 62 acres of vacant bad loc ated on Hanis Road in Cabarrus <br />County on wt:dch the County intends to construct a new middle school and elementary school <br />(''Donated Property'). The exchange of property would be in accordance with North Carolina <br />General Statute Sections 160A-266 and -271. J&B proposes to enter into an agreement with the <br />County to allow for the exchange of the above-described property on the following terms and <br />conditions: <br /> <br />J&.B will convey to the County, or Board of Education, fee simple title, <br />unencumbered by any covenants or restrictions other than ad valorem taxes and <br />general utility easements which do not adversely affect the use of the property, to <br />approximately 62 acres of land located on Harris Road in the southwest comer of <br />that real property identified ia the Cabarrus. County tax records as Tax Parcel <br />Number as 4681-15-3364. Such conveyance shall take place wilhin ninety (90) <br />days afl:er the dale that the proposed exchange is approved by the Cabarrus <br />County Board of Commissioners, subject to completion of due diligence <br />investigations by the County. <br /> <br />After conveyance of the Donated Property to the County and in order to assist <br />with the construction of the elementary and middle school buildings, J&B will <br />provide rough grading work at the site ora dollar value not to exceed $300,000, <br />including such erosion control measures as may be required by the County. In <br />addition, in order to meet the requkements of the Cabarrus County. Adequate <br /> <br /> <br />