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r <br />�3 ' <br />STATE OF NORTH CAROLINA ) AGREEMENT REGARDING INCENTIVE <br />FUNDS FOR <br />COUNTY OF LEE ) PROJECT SPRING <br />THIS AGREEMENT, made and entered into this the day of , <br />by and between the COUNTY OF LEE, NORTH CAROLINA, a body politic and <br />corporate (hereinafter "County "), and PROJECT SPRING, a company with an office and place of <br />business in Sanford, North Carolina (hereinafter "Company "); <br />WITNESSETH: <br />WHEREAS, the Grant from the County to t C ' ` is in the amount of $233,460 <br />(TWO HUNDRED THIRTY -THREE THOUS AN R H D SIXTY DOLLARS) and <br />has been negotiated and agreed to by the parties gent upon ompany entering into this <br />Agreement and formal approval of the Grant ee County Boat ' Commissioners; and <br />G <br />WHEREAS, the Grant is to be used by th pany d the go a eating 105 (ONE <br />HUNDRED FIVE) new jobs at an ,verage wage 8, . '(THIRTY E THOUSAND <br />NINETY SIX DOLLARS) and at X13,500,00 EN MILLION ME HUNDRED <br />THOUSAND DOLLARS) in new�� investment connection with the Company's <br />manufacturing operations in Lee Counnd <br />WHEREAS, t necessafj�-to enab a fob creAW and capital investment by <br />the Company in Le ty to`r and go'; "and <br />WHEREAS, th �'� t alsg necessary to,tnable the retention of 100 jobs existing at <br />the Compar1y „fatality I he A ive date of this Agreement; and <br />MWEREAS, the grant stimulate "al economic activity, promote business, and <br />create a ntber of new Jo s "for the'zens of Lee County; and <br />WHMMAS, the Graft #;is issues : pursuant and subject to the provisions of the Local <br />Development A� North Carolina General Statute 158 -7.1 through 7.4 including a <br />p , §§ � � g public <br />p <br />hearing held on May,, 2014; <br />y <br />NOW, THE , in consideration of the representations set forth herein and the <br />mutual covenants and promises set forth below, the Company agrees: <br />1. TERM. The term of this agreement shall begin upon execution on day of <br />' 2014 and shall end on day of , 20_, <br />unless sooner terminated pursuant to the provisions of the Agreement contained herein. <br />2. PROJECT. The economic development project (hereinafter "Project ") consists of <br />the expansion of the COMPANY to add square feet to its manufacturing facility in Lee County, <br />