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EXHIBIT "B" FOR INDUSTRIAL GRANT PURPOSES <br /> <br /> LEGAL DESCRIPTION <br />OF APPROXIMATELY 54.1025 ACRES IN'CABARRUS COUNTY <br /> <br /> BEGINNING at an existing iron rod located at the southeast corner of the property of J. A, Pender <br />(now or formerly), as shown in Book 516, Page 465, 'Cabarrus County Public Registry; thence with the eastern <br />boundary line of said Pender property N 06-05-15 W 235.48 feet to an existing bolt in a concrete monument; <br />thence with the eastern boundary line of the properly of M. L. Plowman (now or formerly), as shown in Book <br />746, Page 377, Cabarrus County Public Registry N 06-05-15 W 413.73 feet to an existing iron rod; thence <br />N 06-05-15 W 49.97 feet to an existing nail in the Southern Railroad right-of-way; thence N 84-04-40 E <br />1,270.69 feet to a new iron rod; thence with the'western boundary of the right-of-way of Caldwell Road (S.R. <br />1173) the following thirteen (13) calls and distances: (1) S 02-17-43 E 287.64 feet to a new iron pin; (2) With <br />the arc of a circular curve to the right having a radius of 500.00 feet, a chord bearing and distance Of S 01.-46- <br />56 W 71.10 feet, an arc length of 71.16 feet to a new iron rod; (3) S 05-51~35 W 77.57 feet to a new iron rod; <br />(4) S 10-38-09 W 95.00 feet to a new iron rod; (5) S 14-43-57 W 96.37 feet to a new iron rod; (6) S 17-05- <br />52 W 95.94 feet to a new iroh rod; (7) S 18-26-10 W 97.25 feet to a new iron rod; (8) S 19-49-20 W 96.85 feet <br />to a new iron rod; (9) S 20-22-10 W 370.45 feet to a new iron rod; (10) S 18-43-56 W 98.80 feet to a new iron <br />rod; (11)S 18-17-43 W 68.41 feet to a new iron rod; (12)S 18-28-42 W 46,79 feet to a new iron rod; <br />(13) S 12-34-41 W 291.74 feet to a point; thence with the centedine of Back Creek, the following twenty-six <br />(26) calls and dis~:ances: (1) S 73-18-53 W 73.71 feet to a point; (2) S 43-38-34 W 60.72 feet to a point; <br />(3) S 55-24-55 W 127.71 feet to a point; (4) S 82-15-42 W 37.99 feet to a point; (5) N 36-35-05 W 26.07 feet <br />to a point; (6) N 15-11-39 W 72.69 feet to a point; (7) N 64-45-02 W 38.39 feet to a point; (8) S 81-50-33 W <br />250.46 feet to a point; (9) S 55~44-48 W 38.91 feet to a point; (10) S 83-41-27 W 118.55 feet to a point; <br />(11 ) N 45-49-56 W 75.03 feet to a point; (12) N 65-48-06 W 84.06 feet to a point; (13) N 31-08-35 W 103,91 <br />feet to a point; (14) N 07-34-37 E 100.15 feet to a point; (15) N 56-37-33 E 62.40 feet to a point; (16) N 08-13- <br />17 E 44.07 feet to a point; (17) N 56-45-30 W 248.99 feet to a point; (18) N 65-11-17 W 128.97 feet to a point; <br />(19) N 89-33..48 W 136.90 feet to a point; (20) S 56-09-16 W 277.43 feet to a point; (21) S 70-21-36 W 182.41 <br />feet to a point; (22) S 45-13-23 W 90.90 feet to a point; (23) S 86-04-18 W 107.82 feet to a point; (24) N 73-30- <br />03 W 67.57 feet to a point; (25) N 51-49-09 W 90.18 feet to a point; (26) N 80-47-27 W 150.87 feet to a point; <br />thence with the county line dividin9 Mecklenburg County and Cabarrus County N 09-39-27 W 242.04 feet to <br />a point at a 28 inch oak; thence with the southern boundary of the property of Concrete Supply Company (now <br />or formerly), as shown on Book 385, Page 323, Cabarrus County Public Registry, N 74-30-01 E 1,491,45 feet <br />to the POINT AND PLACE OF BEGINNING, said property containing 54.1025 acres of land as shown on <br />survey for The Crosland Group, Inc. prepared by R. B. Pharr and Associates, P.A. dated September 18, 1998 <br />and revised September 21, 1998 and September 22, 1998, said survey sealed by C. Clark Neilson and <br />described as file number W-2207. <br /> <br /> <br />