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AG 2011 02 21
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AG 2011 02 21
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Last modified
6/13/2011 9:22:41 PM
Creation date
11/27/2017 11:14:25 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/21/2011
Board
Board of Commissioners
Meeting Type
Regular
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I <br />' <br />3. Validity of Incentives. As stated in the Program, no change in the <br />Program after the date of this Agreement shall apply to the provisions of this Agreement <br />or to the New Investment or the Facility (as it may be expanded or modified) unless <br />otherwise agreed to in writing by the County and S.P. In the event one or more lawsuits <br />' <br />or other proceedings are brought against the County or any County elected official <br />challenging the legality of this Agreement or any provision, the County shall defend <br />against any and all such lawsuits or other proceedings, including appealing any adverse <br />judgment to the highest appellate court of the State of North Carolina. In the event that <br />any of the incentives or other agreements of the County are determined to be invalid, the <br />County agrees that it will, to the extent permitted by law, provide S.P. with incentives of <br />' <br />substantially equal value pursuant to one or more replacement incentive grant programs. <br />' <br />4. Noncompliance by S.P. S.P. acknowledges that at any time during <br />the period that a Grant is paid or is to be paid to S.P. by County, if S.P. has (a) failed or <br />fails to make or maintain the New Investment, (b) fails to continue in business a fully <br />operational Facility (c) fails to maintain a payroll of at least sixty (60) jobs or positions at <br />' <br />the Facility, or (d) fails to comply with any provision of this Agreement or any provision <br />of the Program applicable to this Agreement, then S.P. shall be in default of this <br />Agreement. In any such event, the County may at its option terminate this Agreement <br />' <br />and no further Grants shall be paid to S.P. <br />5. Miscellaneous. <br />a) S.P. acknowledges and understands that all the provisions of the <br />Program are considered enforceable parts of this Agreement and that it must comply with <br />' <br />all such provisions in order to be eligible for and remain eligible for the Grants. <br />b) This Agreement and the Grants provided by it may not be assigned <br />by S.P. without the prior written consent of County. <br />C) Notices. All notices, certificates or other communications <br />required by or made pursuant to this Agreement shall be sufficiently given and shall be <br />t <br />deemed given when delivered or mailed by registered or certified mail, postage prepaid <br />or sent by facsimile (confirmed by the party providing notice) as follows: <br />' <br />The County: John D. Day <br />Cabarrus County <br />County Manager <br />65 Church Street, SE <br />Post Office Box 707 <br />Concord, North Carolina 28026 <br />Facsimile Number: (704) 920 -2820 <br />Telephone Number: (704) 920 -2100 <br />E -Mail: idday(.WabarrusCounty.US <br />I � <br />G -1 <br />Attachment number 3 <br />Page 108 <br />
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