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STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br /> <br />AGREEMENT <br /> <br /> THIS AGREEMENT is made and entered into this the ~ day of ., <br />1999, by and between the COUNTY OF CABARRUS (hereinafter referred to as <br />"County") and the CHURCH OF GOD CHILDREN'S HOME OF NORTH <br />CAROLINA, INC. (hereinafter referred to as "Children's Home"). <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, the County desires to provide recreational and park services, <br />programs and facilities for the welfare of its citizens; and <br /> <br /> WHEREAS, the City of Kannapolis ("City") previously agreed to lease the <br />County a 45-acre tract for a public park, and the County has a desire to enlarge this <br />park site to provide greater leisure opportunities by leasing the contiguous tract from <br />Children's Home; and <br /> <br /> WHEREAS, this agreement is intended to set forth certain responsibilities and <br />obligations between the County and Children's Home relating to the development of a <br />public park in northern Cabarrus County on Orphanage Road. <br /> <br /> NOW, THEREFORE, upon valuable consideration, the receipt of which is <br />hereby acknowledged by each party and upon the premises contained herein, the parties <br />agree as follows: <br /> <br />Article I. Park Property <br /> <br /> 1.0 Park Property. The Children's Home is the owner of property totaling <br />approximately ~4-acres on the south side of Orphanage Road, Kannapolis, North <br />Carolina (the "Property"), a survey and/or boundary map of which property is attached <br />hereto as Exhibit "A', hereafter collectively referred to as the "Property". <br /> <br /> 1.1 Lease of the Property. The parties hereby agree that the County shall <br />lease the Property from the Children's Home upon customary and reasonable terms and <br />conditions for a period of twenty (20) years at an annual rent of $1.00, for park <br />development and recreational purposes (hereinafter the "Lease"). The County shall not <br />be permitted to enter into any subleases of the Property. However, use of the Property <br />as a public park, as set forth herein, which may from time to time result in third party <br />use of the Property for a fee, shall not be construed as subletting for purposes of this <br /> <br />Page I <br /> <br /> <br />