AG 2012 11 19 - Laserfiche WebLink

Home Browse Search

The County agrees that each annual Grant payment to be made to Tuxedo during the respective term shall be made within thirty (30) days after payment by Tuxedo of the respective annual property taxes due to the County and the delivery of the Assessor's Statement; provided, however, that if at the time of such property tax payment Tuxedo has not paid all taxes due and payable to the County, including but not limited to taxes disputed by Tuxedo, the County shall withhold the annual Grant payment until such time that Tuxedo is current on payment of all such taxes. 2. State and County Incentives. The County agrees to assist Tuxedo in obtaining any incentives, grants and programs that may be or become available from the State of North Carolina and/or the City of Concord; however, the County shall not be responsible for obtaining or paying any State or County incentives to Tuxedo, except as otherwise provided by law. 3. Validity of Incentives. As stated in the Program, no change in the Program after the date of this Agreement shall apply to the provisions of this Agreement or to the New Investment or the Facility (as it may be expanded or modified) unless otherwise agreed to in writing by the County and Tuxedo. In the event one or more lawsuits or other proceedings are brought against the County or any County elected official challenging the legality of this Agreement or any provision, the County shall defend against any and all such lawsuits or other proceedings, including appealing any adverse judgment to the highest appellate court of the State of North Carolina. In the event that any of the incentives or other agreements of the County are determined to be invalid, the County agrees that it will, to the extent permitted by law, provide Tuxedo with incentives of substantially equal value pursuant to one or more replacement incentive grant programs. 4. Noncompliance by Tuxedo. Tuxedo acknowledges that at any time during the period that a Grant is paid or is to be paid to Tuxedo by County, if Tuxedo has (a) failed or fails to make or maintain the New Investment, (b) fails to continue in business a fully operational Facility or (c) fails to comply with any provision of this Agreement or any provision of the Program applicable to this Agreement (except for such provisions waived by County as described herein), then Tuxedo shall be in default of this Agreement. In any such event, the County shall give written notice to Tuxedo describing such default. In the event that Tuxedo shall fail to cure such default within 90 days of having received such written notice, the County may at its option terminate this Agreement and withhold all further Grant payments. 5. Tuxedo Representations Tuxedo represents as of the Agreement Date as follows: a) Project Tuxedo is an entity (i) duly organized and validly existing under the laws of its state of formation; (ii) is duly qualified to transact business and is in good standing in North Carolina; (iii) is not in violation of any provision of its organizational documents; (iv) has full corporate power to own its properties and conduct its business; (v) has full power and authority to enter into this Agreement and to enter Attachment number 3 G -1 Page 202