2011 - 10-10-2011 Spec. Meeting - Laserfiche WebLink

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mcc- 24 1. REPRESENTATIONS BY THE COMPANY. The Company makes the following representations as the basis for the undertakings on its part herein contained: a. The Company is a Delaware corporation authorized to do business in North Carolina and in good standing under the laws of the State of North Carolina. The Company has the power and authority to enter into this Agreement, to perform its obligations under and consummate the transaction contemplated by this Agreement, and has by proper action duly authorized the execution and delivery of this Agreement. b. Neither the execution or delivery of this Agreement nor the performance of the obligations under or consummation of the transactions contemplated by this Agreement violates or will violate any law or governmental order, conflicts or will conflict with any provisions of the Articles of Incorporation or the By -Laws of the Company or any material term or provision of any agreement or instrument to which the Company is a party or by which it is bound, or constitutes or will constitute a material breach of or a default under any such agreement or instrument. C. The Company presently intends to operate the Project as an industrial manufacturing operation at a facility within the County until the County receives the prospective tax revenues from the improvements on the property and create THIRTY -EIGHT (38) jobs to be maintained for a period of THREE (3) years which were contemplated in arriving at the consideration that it receives pursuant to this Agreement. d. The Company hereby certifies that without the incentives provided by the LCEDC based upon the Economic Development Incentive Policy adopted by the County, it would not be able to conduct the Project in the County. e. The Company has been informed and understands that reimbursement will be made only for the jobs created on or after the execution of this document, as is further agreed to herein. 2. The agreement between LCEDC and the County (Exhibit "A ") are incorporated by reference into this Agreement. 3. PERFORMANCE CRITERIA a. The Company agrees to make good faith efforts to retain its current level of operations at its facility in Lee County and to maintain a base level of the 100 full -time existing jobs (hereinafter "Existing Jobs ") at the facility, in addition to the new jobs to be created as part of this Agreement. 3of18