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STATE OF NORTH CAROLINA <br /> INCENTIVE GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Mix Applicant) <br /> THIS AGREEMENT(the"Agreement") is made and entered as of the day <br /> of , 2017, by and between CABARRUS COUNTY, a body politic and <br /> political subdivision of the State of North Carolina("County"), and PROJECT MIX <br /> APPLICANT, a North Carolina limited liability company. <br /> RECITALS <br /> 1. Project Mix Applicant is considering constructing an additional 110,000 <br /> square foot facility (the "Facility") in County at an estimated cost of Nine Million Dollars <br /> ($9,000,000) (the "New Real Property Investment"); and by installing furniture, fixtures <br /> and equipment in the Facility at an estimated cost of an additional Five Million Dollars <br /> ($5,000,000) (the "New Personal Property Investment") (also sometimes collectively <br /> referred to as "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. Project Mix Applicant is requesting a waiver of some of <br /> the terms of the Program, as specified below. <br /> 3. Cabarrus Economic Development, Inc. (the"EDC")has reviewed the <br /> Project Mix Applicant application for inclusion in the Program and EDC's overview is <br /> attached as Exhibit B and incorporated by reference. <br /> 4. Project Mix Applicant has determined that location of its facility in the <br /> International Business Park in Concord,North Carolina(the"Site") in the County is a <br /> suitable location for the placement of the Facility and the New Investment. <br /> 5. To induce Project Mix Applicant to locate the New Investment in the <br /> Facility at the Site and to assist Project Mix Applicant in that activity,the County has <br /> offered incentives to Project Mix Applicant consistent with the Program. <br /> i <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 Mix Applicant agree as follows: <br /> COVENANTS, TERMS and CONDITIONS <br /> I. Incentive Grants. Pursuant to the Program, the County shall in <br /> accordance with and as provided by this Agreement,pay to Project Mix Applicant an <br /> incentive grant(the"Grants")in an amount equal to 85 percent of the increase in <br /> Attachment number 1 \n <br /> i <br /> G-1 Page 249 <br /> I <br />