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026 <br />General Statutes. All New Jobs must have an average annual wage of twenty <br />4W three thousand, forty-seven dollars and ninety-six cents. <br />d. Taxable Investment. The Company agrees to make a privately funded taxable <br />investment in machinery, equipment, and taxable improvements to its facility <br />as part of this Project which will amount to at least eight hundred and sixty- <br />five thousand dollars ($865,000.00), as evidenced by the Project Expenses and <br />Funding Sources Form submitted in the Grant Proposal to the North Carolina <br />Department of Commerce and attached hereto. Such taxable investment shall <br />be made no later than June 10, 2017. <br />e. The Company's compliance with all Performance Criteria set out in this <br />Agreement shall be attested to quarterly under oath by any officer of the <br />Company. <br />6. Closeout. The County will close out the Grant on the first of the following to occur <br />(hereinafter "Closeout") <br />a. The date as of which the County has received and accepted proof reasonably <br />satisfactory to it that the Project has been completed and all the Performance <br />Criteria have been satisfied or; <br />b. End date <br />7. Obligation to Repay Grant Funds. If, for any reason, the Project shall not satisfy <br />the minimum conditions set forth in this Agreement, then the County shall NOT pay <br />the matching grant and/or seek reimbursement from the Company any incentives <br />made possible by this grant, as set forth herein, the Company, or any party, shall <br />remit such incentive funds promptly to the County and the Company shall bear all <br />costs of collection. <br />If the Project as described in this Agreement and the attached exhibits does not meet the <br />Performance Criteria set out herein and the standards for the matching grant as set out by the <br />State of North Carolina, as attached herein, all or part of the Grant Award must be repaid as <br />follows: <br />a) If the total number of New Jobs do not have an average annual wage of $23,047.96, <br />or such New Jobs are not created and maintained through the end of the Incentive <br />Period as set forth in Paragraph 1 of this Agreement, then, in any event, the County <br />shall reduce the grant amount paid from the County funds in the following manner: <br />a. If the Company does not meet the requirements for New Jobs, including <br />number of jobs, average annual wage, and/or maintaining such New Jobs <br />through the end of the Incentive Period as set forth in Paragraph 1 and <br />pursuant to the provisions of this Agreement, County shall reduce the total <br />incentive grant by a prorated amount based on the percentage of New Jobs not <br />meeting the criteria or has a right to seek reimbursement for the incentive <br />amount already paid. <br />b) If the Company does not meet the required minimum investment to receive the full <br />grant amount under its grant agreement with the State of North Carolina, which is <br />attached hereto, the County will seek reimbursement from the Company for a <br />