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booK 23 PALE 15 <br />EXHIBITA <br />TO THE AGREEMENT BETWEEN <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />AND <br />MAGNETI MARELLI, USA <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 <br />day of 2010, by and between the County of Lee, one of the counties <br />of the State of North Carolina and a body both politic and corporate (hereinafter <br />referred to as the "COUNTY'), and Lee County Economic Development <br />Corporation, a North Carolina non-profit corporation (hereinafter referred to as <br />the "LCEDC); <br />WITNESSETH: <br />WHEREAS, LCEDC has requested funds for incentives for an economic <br />development project by Magneti Marelli, a NC corporation located in Lee County, <br />North Carolina, for a project to consist of retrofitting space and the cost of new <br />machinery for the Company on property owned by it in Lee County, North <br />Carolina, which will consist of building improvements and equipment which will <br />have a cumulative initial ad valorem taxable value (prior to depreciation) of at <br />least $21,000,000.00 and will provide new employment for up to 35 people; and <br />WHEREAS, the County proposes to appropriate funds to pay said <br />incentives as follows: <br />FISCAL YEAR <br />2011-2012 <br />2012-2013 <br />2013-2014 <br />2014-2015 <br />2015-2016 <br />AMOUNT <br />$58,053.75 <br />$58,053.75 <br />$58,053.75 <br />$58,053.75 <br />$58,053.75 <br />PAYMENT DATE <br />January 15, 2012 <br />January 15, 2013 <br />January 15, 2014 <br />January 15, 2015 <br />January 15, 2016 <br />NOW, THEREFORE, in consideration of the above, the parties do hereby <br />agree as follows: <br />5 of 22 <br />