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STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br />ECONOMIC DEVELOPMENT <br />GRANT AGREEMENT <br />(Wind Shear, Inc.- Second Grant) <br />THIS AGREEMENT (the "Agreement ") is made and entered as of the day <br />of , 2013, by and between CABARRUS COUNTY, a body politic and <br />political subdivision of the State of North Carolina ( "County "), and WIND SHEAR, INC. <br />( "Wind Shear "), a North Carolina corporation. <br />RECITALS <br />1. Wind Shear is considering locating a mulit square foot addition to its <br />existing facility in County (the "Addition ") by constructing a new building in the County <br />and installing furniture, fixtures and equipment in the Addition at an estimated cost of <br />Five Million Dollars ($5,000,000.00) (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 />Wind Shear application for inclusion in the Program and EDC's overview is attached as <br />Exhibit B and incorporated by reference. <br />4. Wind Shear has determined that location of its Addition on Ivey Cline <br />Road in Concord, North Carolina (the "Site ") in the County is a suitable location for the <br />placement of the Addition and the New Investment. <br />5. To induce Wind Shear to locate the New Investment in the Addition at the <br />Site and to assist Wind Shear in that activity, the County has offered incentives to Wind <br />Shear 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 Wind Shear agree as follows: <br />COVENANTS, TERMS and CONDITIONS <br />1. Incentive Grants. Pursuant to the Program, the County shall in <br />accordance with and as provided by this Agreement, pay to Wind Shear an incentive <br />grant (the "Grants ") in an amount equal to 85 percent of the increase in property tax paid <br />by Wind Shear upon the actual assessed ad valorem tax value increase occasioned by <br />construction and equipment installation of the New Investment in the Addition at the Site. <br />The County shall pay Grants to Wind Shear as follows: <br />Attachment number 3 <br />H -1 Page 237 <br />