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EXHIBIT D <br />TO AGREEMENT BETWEEN <br />COUNTY OF LEE <br />AND <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />DESCRIPTION OF PROJECT AND INCENTIVES <br />1. The Project: Development of a manufacturing facility owned by <br />Challenge Printing Company in SouthPark Business Center in Sanford, <br />Lee County, N.C. The Company will construct at least a 0 square foot <br />facility and will have a cumulative initial ad valorem taxable value (prior <br />to depreciation) of at least $2,000,000.00 providing employment for at <br />least 5 people. <br />2. The Incentive: Estimated cost of the financial incentives for the project <br />are: <br />Site preparation $64,913.00 <br />Lee County's share $35,359.00 <br />City of Sanford's share $29,554.00 <br />This contract covers the County of Lee's share of the incentives described above. <br />It is anticipated that the incentives will be paid out as follows: <br />FISCAL YEAR <br />AMOUNT <br />PAYMENT DATE <br />2007-2008 <br />$7,072.00 <br />December 31, 2007 <br />2008-2009 <br />$7,072.00 <br />December 31, 2008 <br />2009-2010 <br />$7,072.00 <br />December 31, 2009 <br />2010-2011 <br />$7,072.00 <br />December 31, 2010 <br />2011-2012 <br />$7,071.00 <br />December 31, 2011 <br />