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AG 2017 02 20
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AG 2017 02 20
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Last modified
2/22/2017 11:54:50 AM
Creation date
11/27/2017 10:27:23 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/20/2017
Board
Board of Commissioners
Meeting Type
Regular
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shall not be responsible for obtaining or paying any State incentives to Project G2 <br /> Applicant, except as otherwise provided by law. <br /> 3. Validity of Incentives. As stated in the Program, no change in the <br /> Program after the date of this Agreement shall apply to the provisions of this Agreement <br /> or to the New Investment or the Facility(as it may be expanded or modified)unless <br /> otherwise agreed to in writing by the County and Project G2 Applicant. In the event one <br /> or more lawsuits or other proceedings are brought against the County or any County <br /> elected official challenging the legality of this Agreement or any provision, the County <br /> shall defend against any and all such lawsuits or other proceedings, including appealing <br /> any adverse judgment to the highest appellate court of the State of North Carolina. In the <br /> event that any of the economic development Grants or other agreements of the County <br /> are determined to be invalid, the County agrees that it will, to the extent permitted by <br /> law, provide Project G2 Applicant with incentives of substantially equal value pursuant <br /> to one or more replacement economic development grant programs. <br /> 4. Noncompliance by Project G2 Applicant. Project G2 Applicant <br /> acknowledges that at any time during the period that a Grant is paid or is to be paid to <br /> Project G2 Applicant by County, if Project G2 Applicant has (a) failed or fails to make or <br /> maintain the New Investment, (b) failed or fails to provide the jobs represented to the <br /> EDC and the County; (c) fails to continue in business a fully operational Facility or(d) <br /> fails to comply with State law, any provision of this Agreement or any provision of the <br /> Program applicable to this Agreement, then Project G2 Applicant shall be in default of <br /> this Agreement. In any such event, the County may at its option terminate this <br /> Agreement and no further Grants shall be paid to Project G2 Applicant and any Grants <br /> paid to Project G2 Applicant shall be immediately repaid to the County. <br /> 5. Miscellaneous. <br /> a) Project G2 Applicant acknowledges and understands that all the <br /> applicable provisions of the Program are considered enforceable parts of this Agreement <br /> and that it must comply with all such provisions in order to be eligible for and remain <br /> eligible for the Grants. <br /> b) This Agreement and the Grants provided by it may not be assigned <br /> by Project G2 Applicant without the prior written consent of County. <br /> C) Notices. All notices, certificates or other communications <br /> required by or made pursuant to this Agreement shall be sufficiently given and shall be <br /> deemed given when delivered or mailed by registered or certified mail, postage prepaid <br /> or sent by facsimile (confirmed by the party providing notice) as follows: <br /> The County: Michael K. Downs <br /> County Manager <br /> Cabarrus County <br /> 65 Church Street, SE <br /> 3 <br /> Attachment number 3\n <br /> G-1 Page 116 <br />
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