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OFFER TO PURCHASE AND CONTRACT <br /> <br /> INLAND DEVELOPMENT CO., a North Carolina corporation (hereinafter <br />referred to as "Buyer"), hereby offers to purchase, and COUNTY OF CABARRUS, by <br />and through the Board of County Commissioners (hereinafter collectively referred to as <br />"Seller"), upon acceptance of said offer, agrees to sell and convey, all of that plot, piece <br />and parcel of land described below, together with all improvements located thereon (the <br />real property herein described being referred to as "the Property") upon the following <br />terms and conditions: <br /> <br />1. REAL PROPERTY: Located in Number 4 Township, Cabarrus County, North <br />Carolina, and being known as and more particularly described as: <br /> <br />See Description on Exhibit A attached hereto which is hereby incorporated by <br />reference. <br /> <br /> Within 30 days before closing a survey shall be prepared at Buyer's COSt showing <br />the actual dimensions and size of the tract and giving a metes and bounds description <br />thereof. Said survey shall be attached hereto and be made a part hereof as Exhibit B. <br /> <br />2. PURCHASE PRICE: The purchase price shall be $1,I00,000.00 and shall be <br />paid as follows: <br /> <br />$55,000.00 (an amount equal to 5% of the purchase price) in earnest money <br />paid in cash with the delivery of this contract, to be held in escrow by the <br />Seller, until the sale is closed, at which time it will be eredked to Buyer, or <br />until this contract is otherwise terminated and it is disbursed as hereinafter <br />provided. <br /> <br />b) $1,045,000.00, the balance of the purchase price to be paid in cash at the <br /> closing. <br /> <br />3. BUYER AGREMENTS SURVIVING THE CLOSING: <br /> <br />a) Buyer agrees to provide and maintain all necessary buffers around Lake <br /> Concord in accordance with municipal, county and state regulations. <br /> <br />b) Buyer agrees to abide by all water quality laws and regulations now in effect <br /> or hereafter promulgated by federal, state or local authorities. <br /> <br />c) <br /> <br />Buyer shall provide to Seller, Seller's agents and Seller's designees <br />(including, but not limited to the City of Concord, City of Kannapolis and the <br />Water and Sewer Authority of Cabarrus County) reasonable and necessary <br />access to Lake Concord for purposes of the required maintenance and repair <br /> <br /> <br />