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CONSENT AGREEMENT FOR THE MILLS AT ROCKY RIVER DEVELOPMENT FOR CABARRUS COUNTY THIS CON9ENT AGREEMENT is entered into as of this l6th day of June, 2007 by and among Crosswinds At Rocky River, LLC c/o Grace Development Corporation, LLC, with its principal place of business at 7714 Matthews-Mint Hill Road, Charlotte, North Carolina, 26227, the owners of the project more fully defined below ("Developer") and Cabarrus County, North Carolina, a political subdivision of the State of North Carolina, with its principal place of business at 65 Church Street, SE, Concord, North Carolina 2B025 (hereafter, the "COUnty" or °Cabarrus County") by and through its Cabarrus County Board of Commissioners. RECITAI,S : A. Developer is the owner of approximately +532 acres of real property located in Cabarrus County, and has proposed the development of a subdivision in that location with a maximum o£ 630 single-family units and 370 multi-family units, wrrently known as The Mills at Rocky River subdivision project (the "Project"), to be constructed in multiple phases. B. The Project is subject to the Adequate Facilities Provisions of the Cabarrus Cwnty Subdivision Ordinance, Chapter 9 Section 17, and to best knowledge of the County, has been reviewed by all pnblic 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 adequate facility standards and advance these services and facilities. D. Cabarrus County, acting pursuant to its authotity 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 of 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 E~REBY AGREE AS FULLOWS: 1. The PiojeCt 1.1 Description of Project. The Mills at Rocky River Project covered by this Consent Agreement consists of a single-family and multi-family unit subdivision with 1200 units located on approximately +532 acres in Cabarrus County, North Carolina and has a density not to exceed 2.25 as shown on the preliminary subdivision plat. Any chanqes in such approval must be approved in accordance with the City of Concord Unified Development Ordinance or its successor in interest. 1.1A. Timin4 and Phasing of Project. Absent a separate agreement by and between Landowners/Developers, its or their successors or assigns, and the County formally approved by the eoard subsequent to this Consent -Agreement, Landowners/Developers, on its (their) own behalf and that of its (their) successors and assigns, agree that homes within the Project shall become available for occupancy upon the rate, time frame, or schedule set forth V - 1