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~ f <br />1. - <br />- 0 <br />EXHIBIT D <br />0 <br />acox V FAGF 76'2 <br />TO AGREEMENT BETWEEN <br />COUNTY OF LEE <br />AND <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />DESCRIPTION OF PROJECT AND INCENTIVES <br />1. The Project: Renovation and expansion of a vaccine manufacturing facility <br />owned by American Cyanamid Company on property it owns in Lee <br />County, N.C. American Cyanamid Company will expand the existing <br />facility by at least a 30,000 square foot and the renovated vaccine <br />manufacturing facility will have a cumulative initial ad valorem taxable <br />value (prior to depreciation) of at least $47,500,000,00 providing <br />employment for at least 20 people when fully operational. <br />2. The Incentive: Estimated cost of the financial incentives for the project <br />are: <br />Grading, extension of utilities and $690,336.00 <br />other site preparation and appropriations <br />for the aiding and encouraging of the <br />location of the renovation and expansion <br />of the vaccine manufacturing enterprise <br />Lee County's share $690,336.00 <br />This contract covers the County of Lee's share of the incentives described above. <br />It is anticipated that the incentives will be paid out as follows: <br />FISCAL YEAR <br />AMOUNT <br />PAYMENT DATE <br />2002/2003 <br />138,067 <br />July 15, 2002 <br />2003/2004 <br />138,067 <br />July 15, 2003 <br />2004/2005 <br />138,067 <br />July 15, 2004 <br />2005/2006 <br />138,067 <br />July 15, 2005 <br />2006/2007 <br />138,067 <br />July 15, 2006 <br />n?4 <br />NORTH CAROLINA, LEE Coll, T <br />plre ~ <br />s° ed f registratio the 71 <br />J <br />dt~ day <br />19~ ."00 <br />orded in „ok / ~7 Page <br />Nellie W. Thomas, Register of Deeds <br />