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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Fall Applicant) <br /> This ECONOMIC DEVELOPMENT GRANT AGREEMENT (the "Agreement") <br /> is made and entered as of the day of , 2017, by and <br /> between CABARRUS COUNTY, a body politic and political subdivision of the State of <br /> North Carolina("County"), and PROJECT FALL APPLICANT, a corporation ("Project <br /> Fall Applicant"). <br /> RECITALS <br /> I. Project Fall Applicant is considering leasing a parcel and constructing a <br /> 6000 square foot building in the County(the "Facility") at a cost of Six Million Dollars <br /> and constructing installing furniture, fixtures and equipment in the Facility at an <br /> estimated cost of at least Four Million Dollars for a total investment of Ten Million <br /> Dollars ($10,000,000.00) ("New Investment"). <br /> 2. The County has previously adopted an Industrial Development Grant <br /> Program(the"Program"), a copy of which is attached as Exhibit A and incorporated by <br /> reference, the public purpose of which is to encourage economic growth and <br /> development within the County. <br /> 3. Cabarrus Economic Development, Inc. (the "EDC")has reviewed the <br /> Project Fall Applicant application for inclusion in the Program and EDC's overview is <br /> attached as Exhibit B and incorporated by reference. <br /> 4. Project Fall Applicant has determined that location of a distribution and <br /> delivery facility at 7840 Lyles Lane in Concord,North Carolina(the "Site") in the <br /> County is a suitable location for the placement of the New Investment in the Facility. <br /> 5. Project Fall Applicant has determined that it will initially employ <br /> approximately 18 full time employees and 8 part time employees,with a probable <br /> average annual wage of$40,000.00 for the full time employees and$16,000.00 for the <br /> part time employees. <br /> 6. To induce Project Fall Applicant to locate the New Investment in the <br /> Facility at the Site and to assist Project Fall Applicant in that activity, the County has <br /> offered incentives to Project Fall Applicant generally consistent with the Program. <br /> In consideration of the mutual promises set forth in this Agreement and other <br /> good and valuable considerations, the receipt and sufficiency of which are acknowledged <br /> by the parties, the County and Project Fall Applicant agree as follows: <br /> 1 <br /> Attachment number 3\n <br /> G-1 Page 63 <br />