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CONSENT AGREEMENT FOR THE MERIDIAN DEVELOPMENT FOR CAHARRUS COUNTY THIS CONSENT AGREEMENT is entered into as of this 16~° day of June, 2007, by and among Roberta Rdad, LLC, with it's principal place of business at 166 Fern Haven Lane, Mooresville, NC 28117, the owners of the project more fully defined below ("Developer") and Cabarrue County, North Carolina, a political subdivision o£ the Sta[e o£ North Carolina, with its principal place of business at 65 Church Street, SE, Concord, North Carolina 26025 (herea£ter, the °COUnty" or "Cabarrus County^~ by and through its Cabarrus County Board of Commissioners. RECITALS: A. Developer is the owner of approximately 8.90 acres of real property located in the City of Concord, Cabarrns County, and has proposed the development of a subdivision in that location with a maximum of 16 single family lots, currently known as the Meridian subdivision project (the "Project"), to be constructed in multiple phases. B. The Project is subject to the Adequate Facilities Provisions of the Cabarrus County Subdivision Ordinance, Chapter 9 Section 17, Section 66-81, and to best knowledge of the County, has been reviewed by all public agencies which may potentially serve the Project and its future residents. C. Developer is willing to advance public services and facilities for the Project and to agree to certain other considerations to address Cabarrus County ade9uate facility standards and advance these services and facilities. D. Cabarrus County, acting pursuant to its authority under G.S. 153A-330 to 335, and the applicable provisions of the Cabarrus County Subdivision Regulations, has made certain determinations with respect to the proposed Project, and, in the exercise o£ its legislative discretion, has elected to process the Project, resulting in the negotiation, consideration and approval of this Consent Agreement after all necessary hearings. CAHARRUS COUNTY AND THE DEVEIAPER I-]EREBY AGREE AS FOLLOWS: 1. The Project 1.1 Description of Project. The Meridian Project covered by this Consent Agreement presently consists of a single-family subdivision with 16 lots located on approximately 8.90 acres in Concord, North Carolina and has a density not to exceed 1.8 as shown on the approved preliminary subdivision plat. Any changes in such approval must be approved in accorda~ce with the City of Concord Onified Development Ordinance (UDO) or its successor in interest. 1.1A. Timinq and Phasin9 of Project. Absent a separate agreement by and between Landowners/Developers, its or their successors or assigns, and the County formally approved by the Board subsequent to this Consent Agreement, Landowners/Developers, o~ its (their) own behalf and that of its (their) successors and assigns, agree that homes within the Project shall become available £or occupancy upon the rate, time frame, or schedule set forth hereinafter, the total number of which may be accumulated (i.e. the total number of homes available for occupancy in a subsequent year or years shall V ~