DESIGN AND DEVELOPMENT AGREEMENT
This Agreement made as of the 15th day of June 2001, by and between ROBERTS PROPERTIES
RESIDENTIAL, L.P., a Georgia limited partnership (the "Partnership"), and ROBERTS PROPERTIES, INC.,
a Georgia corporation (the "Developer"),
W I T N E S S E T H:
WHEREAS, the Partnership has acquired approximately 10.930 acres in Land Lots 25 and 26 of the 17th
District and in Land Lots 385 and 386 of the 18th District and approximately 2.082 acres located in Land Lot 25
of the 17th District, Fulton County, Georgia, fronting on Northridge Parkway, and the Partnership intends to
develop, construct, own and operate on the Property a 220 unit apartment community ("Northridge"); and
WHEREAS, the Partnership desires that the Developer perform certain advisory, administrative and supervisory
services relating to the Partnership's design, development and construction of Northridge;
NOW, THEREFORE, the parties hereto hereby agree as follows:
The Developer will create and develop Northridge and manage the team of professionals involved, including
engineers, land planners, architects and designers, and manage the design team involved in developing the interior
design and models, as well as selecting the materials, finishes, features and colors for Northridge. The Developer
shall also provide supervisory services to ensure that Northridge is built in accordance with the approved Plans
and Specifications provided.
For the above services, the Developer shall be paid a total of Five Hundred and Fifty Thousand Dollars
($550,000), payable upon demand by the Developer.
IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the date first above written.
ROBERTS PROPERTIES RESIDENTIAL, ROBERTS PROPERTIES, INC., a
L.P., a Georgia limited partnership Georgia corporation
By: Roberts Realty Investors, Inc., By: /s/ Anthony W. Shurtz
its General Partner ---