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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Secure) <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 SECURE APPLICANT, a <br /> ("Secure"). <br /> RECITALS <br /> 1. Secure is considering expanding its manufacturing capacity in an existing <br /> building in the County (the "Facility") and constructing additional improvements and <br /> installing furniture, fixtures and equipment in the Facility at an estimated cost of at least <br /> Thirteen Million Five Hundred Thousand Dollars ($13,500,000.00) ("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 /> Secure application for inclusion in the Program and EDC's overview is attached as <br /> Exhibit B and incorporated by reference. <br /> 4. Secure has determined that location of this manufacturing capacity on Bill <br /> McGee Road outside Midland, North Carolina (the "Site") in the County is a suitable <br /> location for the placement of the New Investment in the Facility. <br /> 5. Secure has determined that it will add approximately ten new full time <br /> employees at the Facility over two (2) years, with a probable average annual wage of <br /> $40,000.00. <br /> 6. To induce Secure to locate the New Investment in the Facility at the Site <br /> and to assist Secure in that activity, the County has offered incentives to Secure generally <br /> 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 Secure agree as follows: <br /> 1 <br /> Attachment number 1 \n <br /> G-1 Page 72 <br />