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BOOK 21 PAGE 654 <br />STATE OF NORTH CAROLINA ) AGREEMENT REGARDING INCENTIVE <br />FUNDS FOR <br />COUNTY OF LEE ) CATERPILLAR, INC. <br />THIS AGREEMENT, made and entered into this the day of <br />2007, by and between LEE COUNTY ECONOMIC <br />DEVELOPMENT CORPORATION, a North Carolina non-profit corporation (hereinafter <br />referred to as LCEDC), and CATERPILLAR, INC. a corporation organized and existing <br />under the laws of the State of Delaware and having offices at 5000 Womack Road. <br />Sanford, Lee County, N.C. (hereinafter referred to as Company); <br />WITNESSETH: <br />WHEREAS, LCEDC has entered into an agreement with Lee County (County) <br />with regard to providing economic development funds in support of the retrofitting of a <br />building and purchase of additional equipment for Caterpillar as described in the <br />contracts which are attached as Exhibits "A" and "B"; and <br />In consideration of the foregoing, the benefits accruing to Caterpillar, the <br />representations and mutual promises contained herein, the parties have agreed as follows: <br />Representations by Caterpillar. Caterpillar makes the following <br />representations as the basis for the undertakings on its part herein <br />contained: <br />a. The Company is a corporation duty organized and existing and in <br />good standing under the laws of the State of Delaware and duly <br />authorized to do business in the State of North Carolina. The <br />Company has the power and authority to enter into this Agreement, <br />to perform its obligations under and consummate the transaction <br />contemplated by this Agreement, and has by proper action duly <br />authorized the execution and delivery of this Agreement. <br />b. Neither the execution or delivery of this Agreement nor the <br />performance of the obligations under or consummation of the <br />transactions contemplated by this Agreement violates or will <br />violate any law or governmental order, conflicts or will conflict <br />with any provisions of the provisions of the charter or by-laws of <br />the corporation or any material term or provision of any agreement <br />or instrument to which the corporation is a party or by which it is <br />bound, or constitutes or will constitute a material breach of or a <br />default under any such agreement or instrument. <br />2of16 <br />