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0 B00K 17 P"GF 92$ <br />STATE OF NORTH CAROLINA ) AGREEMENT REGARDING INCENTIVE <br />FUNDSFOR <br />COUNTY OF LEE ) SAIDEN TECHNOLOGIES, INC. <br />THIS AGREEMENT, made and' entered . into this the day, of <br />1999, by and between LEE COUNTY ECONOMIC <br />DEVELOPMENT CORPORATION, a North Carolina non-profit corporation (hereinafter <br />referred to as LCEDC), and SAIDEN TECHNOLOGIES, INC., with an office and place <br />of business in Morrisville, North Carolina (hereinafter referred to as SAIDEN); <br />WITNESSETH: <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 construction of <br />the Saiden Technologies, Inc. manufacturing facility as described in the contract which is <br />attached as Exhibit' 'W'; and <br />in consideration of the foregoing, the benefits accruing to SAIDEN, the <br />representations and mutual promises contained herein, the parties have agreed as follows: <br />1. Representations by SAIDEN. SAIDEN makes the following <br />representations as the basis for the undertakings on its part herein contained: <br />a. Saiden Technologies, Inc. is a corporation duly organized and <br />existing and in good standing under the laws of the State of North <br />Carolina. SAIDEN has the power and authority to enter into this <br />Agreement, to perform its obligations under and consummate the <br />transactions contemplated by this Agreement, and has by proper <br />action duly authorized the execution and delivery of this <br />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 violate <br />any law or governmental order, conflicts or will conflict with any <br />provisions of the Articles of Organization or the Operating <br />Agreement of the limited liability company or any material term or <br />provision of any agreement or instrument to which the limited <br />liability company is a party or by which it is bound, or constitutes or <br />will constitute a material breach of or a default under any such <br />agreement or. instrument. <br />• <br />C. The project consists of the construction of a manufacturing facility <br />by SAIDEN on,property located in the Lee County Industrial Park, <br />Lee County,. North Carolina, which will consist of a building <br />039 <br />