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78 <br /> <br />agree to indemnify and hold the other harmless from and against any and all <br />claims, demands or the cost and expense thereof arising out of any alleged <br />brokerage commission, fee or other compensation with respect to this Option based <br />upon an agreement alleged to have been made or other action alleged to have been <br />taken by the indemnifying party. <br /> 15. Acceptance Date. This Option and the obligations of Buyer herein are <br />conditioned upon this Option being executed by Seller and returned to Buyer on <br />or before September 15, 1992. If this Option is not so executed and delivered <br />it will be deemed null and void and of no legal effect and the Option Money shall <br />be immediately returned to Buyer. <br /> IN WITNESS WHEREOF, Buyer and Seller have each caused this instrument to <br />be duly executed and sealed by them respectively all as of the day and year first <br />above written. <br /> <br />Date Signed by Seller: <br /> <br />ATTEST: <br /> <br />SELLER: <br />CABARRUS COUNTY, a governmental subdivision of <br />the State of North Carolina <br />By: <br /> <br />Chairman, Board of Commissioners <br /> <br />Clerk to the Board <br />Date Signed by Buyer: <br /> <br />[GORPORATE SEAL] <br /> <br />Attest: <br /> <br />BUYER: <br />FAISON CAPITAL DEVELOPMENT, INC, a North <br />Carolina Corporation <br />By: <br /> <br />President <br /> <br />Secretary <br /> <br />[CORPORATE SEAL] <br /> <br />Attest: <br /> <br />CAMBRIDGE PROPERTIES INCORPORATED, a <br />North Carolina corporation <br />By: <br /> <br />President <br /> <br />Secretary <br /> <br />Ratification of Memorandum of Agreement Relative to the John Bunyan Green Farm <br /> and the Muddy Creek Wastewater Treatment Plant <br /> <br /> UPON MOTION of Commissioner Hamby, seconded by Commissioner Barnhart and <br />unanimously carried, the Board ratified the "Memorandum of Agreement" between <br />Cabarrus County and John B. Green II and Catherine Hartsell Green relative to the <br />John Bunyan Green Farm and the construction of the Muddy Creek Wastewater <br />Treatment Plant. <br /> <br />NORTH CAROLINA <br />CABARRUS COUNTY <br /> <br />MEMORANDUM OF AGREEMENT <br /> <br /> THIS MEMORANDUM OF AGREEMENT made between CABARRUS COUNTY, a body <br />politic of the State of North Carolina (the "County"); and JOHN B. GREEN II and <br />CATHERINE HARTSELL GREEN (the "Owners"); <br /> WITNESS ETH : <br /> A. The County proposes to build a sewer treatment plant designated as the <br />Muddy Creek Wastewater Treatment Plant (the "Project") near the confluence of <br />Muddy Creek and Rocky River in No. 10 Township, Cabarrus County, together with <br /> a sewer interceptor line along Muddy Creek and then to said plant. <br /> B. The Owners are the owners of the John Bunyan Green Farm, which is <br />registered in the National Register of Historic Places, and which is located on <br />both sides of Muddy Creek at its confluence with Rocky River. The John Bunyan <br />Green Farm consists of the property designated by Cabarrus County Tax PIN numbers <br />5553-56-3389 and 5553-35-9824. <br /> C. The Owners have objected to the original plans for the Project because <br />of its impact upon the John Bunyan Green Farm, and said objections may result in <br />delay of the Project. <br /> <br /> <br />