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I <br /> <br /> ~T~N Suite 300 6525 Mordson Boulevard <br /> Charlotte, No~th Carolina 2821 <br /> PROPERTIES <br /> <br /> July 2, 1986 <br /> <br />Mr. Bill Fisher <br /> 905 Burrage Road <br /> Concord, North Carolina 28025 <br /> <br />Dear Mr. Fisher: <br /> <br />Pursuant to our recent conversation concerning the location of the proposed <br />Cabarrus County Airport,'I wish to inform you of our sale price, terms, <br />and conditions for the sale of the property located at the selected Poplar <br />Tent site. <br /> <br />We agree to enter into a contract to sell 347.3 acres (comprising one <br />of the five tracts into which the total assembled acreage has been divided) <br />as follows: <br /> <br />1. Sale price shall be $10,000.00 per acre. <br /> <br />2. Terms shal~ be all cash payable at closing, which shall be no later <br /> than December 31, 1986. <br /> <br />As we discussed, Mr~ Fisher, the overwhelming advantage in purchasing this <br />entire 347.3 acre tract is the control over development of the land around <br />the airport proper. With the entire tract, the airport co~nission could <br />develop additional land as desired, use for expansion, or sell to selected <br />investors or developers. <br /> <br />If you have further questions on this matter, please call. <br /> <br />Tliank you for your interest in this project. <br /> <br />Sincerely, <br /> <br />11. C. Needham <br />Vice President - Brokerage <br /> <br />tlCN/msh <br /> <br /> <br />