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0 <br />sa)K. 24 rnE 704 <br />DOLLARS) and will create at least 58 (FIFTY- EIGHT) new jobs over two <br />years. <br />d. The COMPANY presently intends to operate the project as a processing <br />and cold storage facility within the CITY and COUNTY until the CITY <br />and COUNTY receive the prospective tax revenues from the <br />improvements to be constructed on the property which were contemplated <br />in arriving at the consideration that it receives pursuant to this Agreement. <br />e. The COMPANY hereby certifies that but for the incentives provided by <br />the LCEDC based upon the Economic Development Incentive Policies <br />adopted by the CITY and COUNTY, it would not site this project in the <br />CITY or COUNTY. <br />f. The COMPANY has been informed and understands that grant funds will <br />be provided only for expenditures for work performed on or after the <br />execution of this document. <br />2. The agreements between LCEDC and the COUNTY and CITY (Exhibits "A" and <br />"B ") are incorporated by reference into this Agreement. <br />3. The COMPANY agrees as follows: <br />a. To comply fully with the terms of those agreements as they describe <br />obligations and performance to be undertaken by the COMPANY. <br />b. To provide to LCEDC good and sufficient, certified and auditable, <br />evidence of the COMPANY'S compliance with the terms and conditions <br />of this agreement sufficient for LCEDC's compliance with those <br />agreements. <br />C. If the project as described in this Agreement and the attached exhibits does <br />not produce the improvements and jobs as anticipated over the five years <br />following the execution of this Agreement, specifically: <br />i. If the amount of ad valorem taxes paid to the COUNTY and CITY <br />over the term of this agreement which are attributable to this project are <br />not sufficient to pay to the CITY and COUNTY an amount equivalent to <br />twice the amount of incentive contemplated, which could amount from <br />COUNTY funds, up to $413,614 (FOUR HUNDRED THIRTEEN <br />THOUSAND SIX HUNDRED FOURTEEN DOLLARS) and to pay to the <br />CITY the anticipated goal of twice the amount of incentives paid from <br />CITY funds, which could amount up to $297,802 (TWO HUNDRED <br />NINTY -SEVEN EIGHT HUNDRED TWO DOLLARS), in the next five <br />fiscal years, or <br />3 of 29 <br />