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Carriase Downs Property Owners' A~socia~on, Inc. <br /> <br /> 2100 Rexford Road, Ste 220 <br /> Charlotte, NC 28211 <br /> (704) 364-8162 <br /> <br /> February 21, 1991 <br /> <br />Mr. Henry Waldroup <br />Cabarrus County <br />P.O. Box 707 <br />Concord, NC 28025 <br /> <br />Dear Mr. Waldroup: <br /> <br /> In our letter.of November 1, 1990, the Board of Directors of <br />the Carriage Downs Property Owners' Association, Inc., approved a <br />commitment not to exceed $42,600 to proceed with extending the <br />county sewer lines to the Carriage Downs subdivision. Also in <br />this letter, it was specified that the county would finance this <br />amount.over a three-year period at an interest rate of 8%. <br /> <br /> After further conversations, we understand that there are <br />administrative concerns about the County government approving this <br />financing for the association. <br /> <br /> Therefore,-we would like to withdraw our request for financ- <br />ing the $42,600. We continue to commit to contribute this amount <br />from the association and understand that the total maximum amount <br />of $42,600 is due and payable upon substantial completion of the <br />project. <br /> <br /> Dianne Promin Pat/S~ag~oli <br /> <br /> Cook / hambo <br /> <br /> V'Marsha R. Shambo <br /> <br /> I <br /> <br /> <br />