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• <br />STA"I IT OF NORTH CAROLINA ) <br />COUNTY OF LEE ) <br />AGREEMENT REGARDIiv1G FNCEN"fIVF <br />FUt,TDS FOR <br />bVY I H-I <br />THIS AGR-FFMENT, made and entered into this the day of <br />2007, by and between LEE COUNTY ECONOMIC <br />DEVL'-LOPMEN'f CORPORATION, a North Carolina non-profit corporation (hereinafter <br />referred to as LCEDC), and WYETH acting through its Wyeth Hollings Corporation, a <br />corporation organized and existing under the laws of the State of Maine and having <br />offices at 4300 Oak Park, Sanford, Lee County, N.C. (hereinafter referred to as <br />Company), <br />WITNESSETI-I: <br />• <br />WHEREAS, LCEDC has entered into an agreement with Lee County (County) <br />with regard to providing economic development funds in support of the development of <br />the Wyeth administrative building as described in the contracts which are attached as <br />Exhibits "A" and "B", and <br />In consideration of the foregoing, the benefits accruing to Wyeth, the <br />representations and mutual promises contained herein, the parties have agreed as follows: <br />Representations by Wyeth. Wyeth makes the following representations as <br />the basis for the undertakings on its part herein contained: <br />a. The Company is a corporation duly organized and existing and in <br />good standing under the laws of the State of Maine and duly <br />authorized to do business in the State of North Carolina. The <br />Company has the power and authority to enter into this Agreement, <br />to perform its obligations under and consummate the transaction <br />contemplated by this Agreement, and has by proper action duly <br />authorized the execution and 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 provisions of the charter or by-laws of <br />the corporation or any material term or provision of any agreement <br />or instrument to which the corporation is a party or by which it is <br />bound, or constitutes or will constitute a material breach of or a <br />default under any such agreement or instrument. <br />CJ <br />2of16 <br />