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047 <br />STATE OF NORTH CAROLINA ) AGREEMENT REGARDING INCENTIVE <br />• <br />FUNDS FOR <br />COUNTY OF LEE ) SCORE ENERGY <br />THIS AGREEMENT, made and entered into this the day of <br />2009, by and between LEE COUNTY ECONOMIC <br />DEVELOPMENT CORPORATION, a North Carolina non-profit corporation <br />(hereinafter referred to as LCEDC), and SCORE ENERGY, company with an <br />office and place of business in Sanford, N.C. (hereinafter referred to as Company); <br />WITNESSETH: <br />WHEREAS, LCEDC has entered into an agreement with Lee County <br />(County) and the City of Sanford (City) with regard to providing economic <br />development funds in support of the development of the Score Energy <br />manufacturing facility as described in the contracts which are attached as Exhibits <br />"A" and "B", and <br />In consideration of the foregoing, the benefits accruing to Score Energy, the <br />representations and mutual promises contained herein, the parties have agreed as <br />follows: <br />1101 1. Representations by Score Energy. Score Energy makes the <br />following representations as the basis for the undertakings on its part herein <br />contained: <br />a. The Company is a limited liability company duly organized and <br />existing and in good standing under the laws of the State of <br />North Carolina. The Company has the power and authority to <br />enter into this Agreement, to perform its obligations under and <br />consummate the transaction contemplated by this Agreement, <br />and has by proper action duly authorized the execution and <br />delivery of this Agreement. <br />b. Neither the execution or delivery of this Agreement nor the <br />performance of the obligations under or consummation of the <br />transactions contemplated by this Agreement violates or will <br />violate any law or governmental order, conflicts or will conflict <br />with any provisions of the Articles of Organization or the <br />Operating Agreement of the limited liability company or any <br />material term or provision of any agreement or instrument to <br />which the limited liability company is a party or by which it is <br />bound, or constitutes or will constitute a material breach of or <br />a default under any such agreement or instrument. <br />2 of 25 <br />