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STATE OF NORTH CAROLINA ) AGREEMENT REGARDING INCENTIVE FUNDS FOR COUNTY OF LEE ) PROJECT TEMPERATURE THIS AGREEMENT,made and entered into this the t C(44'day of FebiuN DO Ips , by and between the COUNTY OF LEE,NORTH CAROLINA,a body politic and corporate(hereinafter referred to as COUNTY) and Project Temperature, a company with an office and place of business in Sanford,North Carolina, (hereinafter referred to as COMPANY); WITNESSETH: WHEREAS,the Grant from the COUNTY to the COMPANY is in the amount of up to $306,639.45 (three hundred and six thousand, six hundred and forty-nine dollars and forty-five cents)and has been negotiated and agreed to by the parties contingent upon the COMPANY entering into this Agreement and formal approval of the Grant by the Lee County Board of Commissioners; and, WHEREAS,the Grant is to be used by the COMPANY toward the goal of creating at least 109 (one hundred and nine)new employees (hereinafter referred to as "New Jobs")at an average annual wage of at least$34,954.00 (thirty-four thousand, nine hundred and fifty-four dollars)and net new taxable investment in the amount of$22,500,000.00(twenty two million, five hundred thousand dollars)(hereinafter referred to as"taxable investment")in connection with building construction and the purchase of machinery and equipment in the COMPANY'S manufacturing operations located in Lee County; and WHEREAS, the Grant is necessary to enable the job creation and taxable investment by the Company in Lee County to occur and go forward; and WHEREAS,the Grant will stimulate local economic activity,promote business and create a number of new jobs for the citizens of Lee County; and WHEREAS,the Grant is issued pursuant and subject to the provisions of the Local Development Act,North Carolina General Statute 158-7.1 through 7.4, including a public hearing which was held on February 19, 2018; and WHEREAS, a public hearing was held on February 19, 2018 at the Regular Meeting of the Board of County Commissioners, whereby the Board then took a vote to approve the incentive; NOW, THEREFORE, in consideration of the representations set forth herein and the mutual covenants and promises set forth below, the COMPANY agrees to the following: