Laserfiche WebLink
6 cR 17 r cF 044 <br />EXHIBIT "A" <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 day of <br />, 1999, by and between the County of Lee, one of the counties of the State of <br />North Carolina and a body both politic and corporate (hereinafter referred to as the <br />"COUNTY"), and Lee County Economic Development Corporation, a North Carolina <br />non-profit corporation (hereinafter referred to as the "LCEDC"); <br />WITNESSETH: <br />WHEREAS, LCEDC has requested funds for incentives for an economic <br />development project by Saiden Technologies, Inc., a corporation with an office located in <br />Morrisville, North Carolina, for a project to consist of the construction of a manufacturing <br />facility by Saiden Technologies, Inc., on property located at the Lee County Industrial <br />Park, Lee County, North Carolina, which will consist of a building containing not less than <br />25,000 square feet and the land, building, and equipment will have a cumulative initial ad <br />valorem taxable value (prior to depreciation) of at least $8,000,000 and will provide new <br />employment for at least five people; and <br />WHEREAS, the County proposes to appropriate funds to pay said incentives as <br />follows: <br />FISCAL YEAR <br />AMOUNT <br />PAYMENT DATE <br />2000-2001 <br />25,350 <br />July 15, 2001 <br />2001-2002 <br />25,350 <br />July 15, 2002 <br />2002-2003 <br />25,350 <br />July 15, 2003 <br />2003-2004 <br />25,350 <br />July 15, 2004 <br />2004-2005 <br />25,350 <br />July 15, 2005 <br />NOW, THEREFORE, in consideration of the above, the parties do hereby agree <br />as follows: <br />(1) The LCEDC covenants and agrees to expend the funds which are the <br />subject of this Agreement and perform services in consideration of the receipt of funds in <br />accordance with the purposes and/or under the restrictions and conditions as attached to <br />this Agreement and incorporated herein by reference. The LCEDC further agrees to <br />expend the COUNTY funds in accordance with the Budget for said funds attached hereto <br />which is incorporated herein by reference. Funds made available to the LCEDC pursuant <br />to this Agreement shall be expended only in accordance with the applicable federal, state, <br />® and local laws. No change or alteration in the amount of the total Budget attached may be <br />made without the express approval of the Board of Commissioners if the COUNTY <br />