Laserfiche WebLink
W~mble Carlyle -CHAR 1118100 5:54: PAGE 003~3 RightFAX <br /> <br />Facilities Ordinance, .I&B will contribute $350,000 ia cash t° Cabarrus County to <br />pay for necessary infrasa-ucture. <br /> <br />The existing Odell Elementary School property will be conveyed to J&B ';as is" <br />as soon as the new elementary school is completed, as evidenced by a Certificate <br />of Occupancy, but no later than August 31, 2005. The exchange shah be made <br />in accordance with North Carolina General Statute Sections 160A-266 mad -271. <br />The County acknowledges and agrees that such exchange will be for full and fair <br />consideration as required under the statutes. <br /> <br />J&B agrees to locate as much of the green space and recreational areas of its <br />development as are reasonably feasible adjacent to the Donated Property. to be <br />used as parks and recreation fields for shared public and school use. <br /> <br />This proposal is intended as a letter of intent only to set down the good-faith <br />intentions of the parties, but will not be b~nfling on either until a signed document <br />embodying all the terms of the parties' understanding is executed. <br /> <br /> I look forward to hearing your thoughts regarding our proposal, and to working with the <br />County to move forward with this exciting project. <br /> <br />Respectfully yours, <br /> <br />J&,B Management and Development, I~c. <br />A North Carolina Corporation <br /> <br />~.obel~,Burketh President <br /> <br />C#259820 v I <br /> <br /> <br />