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STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br />ECONOMIC DEVELOPMENT <br />GRANT AGREEMENT <br />(Project "Blue ") <br />This ECONOMIC DEVELOPMENT GRANT AGREEMENT (the "Agreement ") <br />is made and entered as of the day of , 2016, by and between <br />CABARRUS COUNTY, a body politic and political subdivision of the State of North <br />Carolina ( "County "), and PROJECT BLUE APPLICANT, a corporation. <br />RECITALS <br />1. Project Blue Applicant is considering locating a multi square foot <br />technical development facility in County (the "Facility ") by leasing and upfitting new <br />facilities in the County and installing furniture, fixtures and equipment in the Facility at <br />an estimated cost of Five Million Eight Hundred Sixty -Seven Thousand Five Hundred <br />Dollars ($5,867,500.00) (collectively 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. <br />3. Cabarrus Economic Development, Inc. (the "EDC ") has reviewed the <br />Project Blue application for inclusion in the Program and EDC's overview is attached as <br />Exhibit B and incorporated by reference. <br />4. Project Blue Applicant has determined that location of its technical <br />development facility at 4715 Corporation Drive in the International Business Park in <br />Concord, North Carolina (the "Site ") in the County is a suitable location for the <br />placement of the Facility and the New Investment. <br />5. To induce Project Blue Applicant to locate the New Investment in the <br />Facility at the Site and to assist Project Blue Applicant in that activity, the County has <br />offered incentives to Project Blue Applicant consistent with the Program, but with a <br />waiver as to the length of time of the economic development grant. <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 Blue Applicant agree as follows: <br />COVENANTS, TERMS and CONDITIONS <br />Incentive Grants. <br />Pursuant to the Program, a modified, the County <br />shall in accordance with and as provided by this Agreement, pay to Project Blue <br />Attachment number 3 \n <br />G -4 Page 394 <br />