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P 5 2 <br />STATE OF NORTH CAROLINA ) AGREEMENT FOR THE GRANT <br />OF COUNTY OF LEE FUNDS <br />COUNTY OF LEE ) <br />THIS GRANT AGREEMENT, made and entered into as of the day <br />of , 2009, by and between the County of Lee, one of the counties of the <br />State of North Carolina and a body both politic and corporate (hereinafter referred <br />to as the "COUNTY"), and Lee County Economic Development Corporation, a <br />North Carolina non-profit corporation (hereinafter referred to as the "LCEDC"); <br />WITNESSETH: <br />WHEREAS, LCEDC has requested funds for incentives for an economic <br />development project by Score Energy, a limited liability company located in Lee <br />County, North Carolina, for a project to consist of the development of a <br />manufacturing facility by the Company on property owned by it in Lee County on <br />Tramway Road in Lee County, North Carolina, which will consist of a building <br />containing not less than 18,000 square feet and the land, building, and equipment <br />will have an additional initial ad valorem taxable value (prior to depreciation) of at <br />least $2,500,000.00 and will provide additional employment when fully operational; <br />and <br />WHEREAS, the County proposes to appropriate funds to pay said <br />incentives as follows: <br />Real Estate $1,000,000 <br />Machinery - $1,500,000 <br />Jobs - <br />0 <br />Real <br />Estate <br />Coun <br />9!Y <br />95% _ <br />$950,000 <br />$950,000 <br />x $0.0075 <br />Tax Rate <br />x $0.0055 <br />Tax Rate <br />$7,125 <br />$5,225 <br />x 5 <br />Years <br />x 5 <br />Years <br />$35,625 <br />$26,125 <br />x 50% _ <br />$17,813 <br />x 50% _ <br />$13,063 <br />Machinery <br />Cou <br />nty <br />City <br />90% _ <br />$1,350,000 <br />x$0.0075 = <br />$10,125 <br />x$0.0055 = <br />$7,425 <br />82% _ <br />$1,230,000 <br />x$0.0075 = <br />$9,225 <br />x$0.0055 = <br />$6,765 <br />75% _ <br />$1,125,000 <br />x$0.0075 = <br />$8,438 <br />x $0.0055 = <br />$6,188 <br />7 of 25 <br />