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New Jobs); (iii) satisfied the Wage Standard and health insurance requirements; and (iv) <br />invested the amount to be disbursed in Statutorily Qualifying Expenses. <br />c. The third twenty -five percent (25 %) of the Grant will be disbursed to the Local <br />Government upon proof that the Company has (i) maintained 100% of the Retained Jobs; <br />(ii) created and retained not less than seventy -five percent (75 %) of the Target New Jobs <br />(i.e., 29 New Jobs); (iii) satisfied the Wage Standard and health insurance requirements; <br />and (iv) invested the amount to be disbursed in Statutorily Qualifying Expenses. <br />d. The final twenty -five percent (25 %) of the Grant will be disbursed to the Local <br />Government upon proof that the Company has (i) maintained 100% of the Retained Jobs; <br />(it) created and retained the Required New Jobs; (iii) satisfied the Wage Standard and <br />health insurance requirements; and (iv) made the Required Investment; and (iv) invested <br />the amount to be disbursed in Statutorily Qualifying Expenses. <br />The Local Government will submit or cause to be submitted to DOC each Company Disbursement <br />Request and Local Government Disbursement Request, upon proof of the creation of the required <br />number of New Jobs and the satisfaction of all other Performance Criteria necessary for <br />disbursement. Following receipt of Grant funds from DOC, the Local Government will disburse <br />funds to the Company. <br />Should it become necessary for a job created after the Effective Date to be counted by the <br />Company as a Retained Job for purposes of establishing the base level of jobs required to be <br />maintained by this CPA, thatjob may not be double- counted as a New Job. <br />The Company may qualify for disbursement of multiple installments on a single date. <br />2.2. DOC will close out the Grant on the first to occur of <br />0) The date as of which DOC shall have received and accepted proof reasonably <br />satisfactory to it that the Project has been completed and the Performance <br />Criteria satisfied. <br />(it) The Grant End Date. <br />( "Closeout "). <br />Following Closeout, to the extent any Grant proceeds may be due and upon submission of a duly <br />completed Company Disbursement Request and Local Government Disbursement Request, a final <br />Grant payment will be disbursed. A request for final payment, if not made previously, must be <br />made to DOC within thirty (30) days following Closeout. <br />3.0 OBLIGATION TO REPAY GRANT <br />3.1 Failure to Provide Health Insurance If, at any time during the Grant Period or during the <br />period set forth in Section 5.0 hereof, the Company fails to provide health insurance to all <br />permanent full -time employees at the Facility in the amount required for eligibility for tax credits <br />One NC Company Performance Agreement <br />Zurn htdustries, LLC <br />Lee County <br />4— <br />