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Bk:RB5045�Pg:104 10/28/2010 02:38:56 PM 1/3 FILED Deborah B. Brooks OL Register of Deeds, Orange Co,NC� Recording Fee: $20.00 NC Real Estate TX: $.00 _D� Return to Town Clerk, Town of Carrboro, 301 W. Main Street, Carrboro, N.C. 2710 TOWN OF CARRBORO CONDITIONAL USE PERMIT — AMENDMENT (Ballentine Architecturally Integrated Subdivision) THIS DOCUMENT IS FILED TO AMEND THE ORIGINAL CONDITIONAL USE PERMIT DATED JUNE 26, 2007 AND AUGUST 28, 2007 THAT IS ON FILE IN THE ORANGE COUNTY REGISTRY IN BOOK RB4407, PAGE 340. (Tax Map 7.23.C.3, PIN NO. 9860932325) The Board of Aldermen granted the minor modification to the conditional use permit requested by M/I Homes on June 22, 2010. The modification will allow the project to be converted from a two - phase project into a four -phase project. This modification also replaces Conditions 5, 6, 7, 8, 11, 16..17, 18 and 24 of the original Conditional Use Permit with the following conditions: That, prior to final plat approval for Phase 3, the applicant provides to the Town, in accordance with applicable LUO provisions, a financial security sufficient to construct their portion of the remaining, uncompleted road and stream crossing, from the eastern terminus of Street A, as shown on plans, to the property line directly to the east. The value of said security shall be determined by the Consulting Engineer with approval by the Town Engineer and shall be retained until the road segment and stream crossing is constructed or until an alternate stream crossing is constructed. Furthermore, the estimate shall be renewed annually and adjusted for inflation via the Consumer Price Index. The security shall be returned to the applicant if (1), the Town determines that the road and crossing will not be constructed, or (2), a period of ten years has passed from the date of initial posting of the financial security with the Town. 6. That prior to construction plan approval for Phase 3 the applicant provide to the Town evidence of a shared - access easement (or equivalent) agreed upon by Orange County so as to allow for the construction of Street A, as shown on the approved CUP plans. 7. That prior to construction plan approval for Phase 1 the applicant provide to the Town evidence that the portion of property owned by the Lake Hogan Farms Homeowner's Association necessary to allow Street B2 to connect to the Hogan Hills Road RIW has been substantially secured. 8. That prior to construction plan approval, the applicant receive a driveway permit from NCDOT in accordance with any conditions imposed by such agency including but not limited to encroachment/maintenance agreements for lighting and sidewalks. 11. That prior to final plat approval for Phase 1, an offer of dedication of the open space areas on the east side and adjacent to the Lake Hogan Farm road extension be made to the Town.