2-19-18 Regular Meeting - Laserfiche WebLink

Home Browse Search

iii. Submission of incorrect or incomplete reports to the COUNTY in any material respects or; iv. Failure to make satisfactory progress towards making the cumulative investment in the property as of each fiscal year according to Exhibit A, without requesting an extension of time and agreed upon by the COUNTY in writing,the determination of whether satisfactory progress has been made will be in the sole discretion of the County. b. The COUNTY may terminate this Agreement, as set forth herein,for failure of the COMPANY to make the investment of the property, for failure of the project, or violation of the terms of this Agreement, in the discretion of the COUNTY, providing that 30 day notification was provided to the COMPANY and the COMPANY was unable to cure such defect. 9. ADDITIONAL PROVISIONS. a. Verification and Reporting. The COMPANY shall provide to the COUNTY on an annual basis or upon the COUNTY's request all reasonable documentation deemed necessary by the COUTNY to verify the maintenance of the New Jobs, and expenditure of the Taxable Investment described in this agreement, including, but not limited to,Employment Security Commission form NCUI 101, a list of all positions used in accounting for the New Jobs and Existing Jobs, and the use of the Grand funds. Annual reporting shall be done by March 31St each year. If such information is not provided to the COUNTY by that date,it is assumed the COMPANY is no longer seeking an incentive for that fiscal year and therefore a payment will not be made to the COMPANY. b. Force Majeure. If unforeseen calamity, an Act of God, or financial disaster is the alleged cause of the COMPANY's failure to satisfy or perform any obligation under this Agreement,the COMPANY may request an extraordinary modification of this Agreement from the County. The parties agree that any decision to allow such modification shall be at the mutual decision of the Parties. c. Records. The COMPANY shall keep and maintain books and records, and other documentation relating to the receipt and disbursement of Grant funds and fulfillment of this Agreement, including, but not limited to,records to verify the hiring, retention, discharge and salaries and benefits paid to all employees covered by this Agreement and the amount of Grant funds expended for the purposes allowed under this Agreement. d. Right to Inspect. Subject to any applicable federal or North Carolina laws or regulations regarding employee privacy,the COMPANY agrees that any duly authorized representative of the COUNTY shall have, at all reasonable times and on reasonable notice, access to and the right to inspect, audit, copy and examine