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/(,�2 <br />EXHIBIT D <br />TO AGREEMENT BETWEEN <br />COUNTY OF LEE <br />AND <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />DESCRIPTION OF PROJECT AND INCENTIVES <br />The Project: Expansion of a facility leased by Cloverleaf Cold Storage Company <br />in Lee County, N.C. The Company will expand an existing facility by at least a <br />40,000 square feet for processing facility and 65,000 square feet of freezer space <br />which will have a cumulative initial ad valorem taxable value (prior to <br />depreciation) of at least $12,000,000 (TWELVE MILLION DOLLARS and <br />providing at 58 (FIFTY- EIGHT) new jobs. <br />2. The Incentive: Estimated costs of the financial incentives for the project are: <br />Site preparation $355,708 <br />Lee County's share $206,807 <br />City of Sanford's share $148,901 <br />This contract covers the COUNTY's share of the incentives described above. It is <br />anticipated that the incentives will be paid out as follows: <br />10104 ". WAVE" <br />2014 -2015 <br />2015 -2016 <br />2016 -2017 <br />2017 -2018 <br />2018 -2019 <br />$41,362 <br />$41,362 <br />$41,361 <br />$41,361 <br />$41,361 <br />PAYMENT DATE <br />January 15, 2015 <br />January 15, 2016 <br />January 15, 2017 <br />January . 15, 2018 <br />January 15, 2019 <br />15 of 29 <br />