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STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br />ECONOMIC DEVELOPMENT <br />GRANT AGREEMENT <br />(Project Print Applicant) <br />This ECONOMIC DEVELOPMENT GRANT AGREEMENT (the "Agreement ") <br />is made and entered as of the day of , 2016, by and <br />between CABARRUS COUNTY, a body politic and political subdivision of the State of <br />North Carolina ( "County "), and PROJECT PRINT APPLICANT, a corporation ( "Project <br />Print Applicant "). <br />RECITALS <br />1. Project Print Applicant is considering leasing a 63,299 square feet in a <br />building in the County (the "Facility ") and constructing new leasehold improvements and <br />installing furniture, fixtures and equipment in the Facility at an estimated cost of at least <br />Four Million, Three Hundred Eighty -Three Thousand One Hundred Fifty Dollars <br />($4,383,150.00) ( "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 Print Applicant application for inclusion in the Program and EDC's overview is <br />attached as Exhibit B and incorporated by reference. <br />4. Project Print Applicant has determined that location of a distribution and <br />delivery facility at 7075 Derita Road 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 Print Applicant has determined that it will initially employ <br />approximately 5 full time employees and within a year another 10 full time employees at <br />the Facility, with a probable average annual wage of $50,000.00. <br />6. To induce Project Print Applicant to locate the New Investment in the <br />Facility at the Site and to assist Project Print Applicant in that activity, the County has <br />offered incentives to Project Print 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 Print Applicant agree as follows: <br />Attachment number 3 \n <br />G -3 Page 150 <br />