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?4 ,, r?5 <br />LOCAL GOVERNMENT GRANT AGREEMENT <br />THE ONE NORTH CAROLINA FUND <br />Local Government Name: Lee County Grant No. 2011 -7666 <br />Project Name: Zurn Industries, LLC (with Rexnord LLC as Guarantor) <br />STATE OF NORTH CAROLINA <br />COUNTY OF WAKE <br />GRANT AGREEMENT <br />This Local Government Grant Agreement (the "LGGA ") is effective the 14 "' day of October, <br />2011 (the "Effective Date ") by and between the County of Lee, North Carolina (hereinafter referred to as <br />the "Local Government "), and the North Carolina Department of Commerce (hereinafter referred to as <br />"DOC "); <br />WITNESSETH: <br />WHEREAS; the Local Government desires to stimulate and develop the local economy of its <br />region, alleviate the problems of unemployment and underemployment by creating and /or retaining jobs for <br />its citizens, and develop its local tax base; and <br />WHEREAS; the General Assembly has created the One North Carolina Fund (the "Program ") to <br />make funding available within North Carolina "to secure commitments for the recruitment, expansion or <br />retention of new or existing businesses ": and <br />WHEREAS; the General Assembly has authorized Program funds to be used for installation or <br />purchase of equipment: structural repairs, improvements, or renovations to existing buildings to be used for <br />expansion; construction of or improvements to new or existing water, sewer, gas or electric utility <br />distribution lines or equipment for existing buildings; and construction of or improvements to new or <br />existing water, sewer, gas or electric utility distribution lines or equipment for new or proposed buildings to <br />be used for manufacturing and industrial operations; and <br />WHEREAS; the Local Government has applied for funds in connection with activity to be <br />undertaken by Zorn Industries, LLC (the "Company "), a business that has competitively chosen to locate <br />or expand operations for the following project (the "Project") in North Carolina: <br />An expansion of an engineered plumbing products manufacturing plant (the "Facility) at <br />which the company will warehouse Zorn tubular and AquaSpec product lines in or around <br />5901 Elwin Buchan Drive in the City of Sanford, in Lee County, North Carolina. <br />WHEREAS; the Local Government has committed to provide matching funds and resources <br />for the Project equal to at least the amount of any funds awarded from the Program (the "Match "); and <br />