AG 2011 09 19 - Laserfiche WebLink

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The County agrees that each annual Grant payment to be made to Pregel during the respective term shall be made within thirty (30) days after payment by Pregel 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 Pregel has not paid all taxes due and payable to the County, including but not limited to taxes disputed by Pregel, the County shall withhold the annual Grant payment until such time that Pregel is current on payment of all such taxes. 2. State and COLInty Incentives. The County agrees to assist PreGel 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 PreGel, 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 Pregel. the event one or more lawsuits or other proceedings arc 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 PreGel with incentives of substantially equal value pursuant to one or more replacement incentive grant programs, 4. Noncompliance mpliance byPreael,. Pregel acknowledges that at any time during the period that a Grant is paid or is to be paid to Pregel by County, if Pregel 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 Pregel shall be in default of this Agreement. In any such event, the County shall give written notice to Pregel describing such default. In the event that Pregel 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 ftulher Grant payments. 5. Pregel Representations Pregel represents as of the Agreement Date as follows: a) Both Pregel America, Inc and Lares Real Estate USA, LLC are entities (i) duly organized and validly existing under the laws of their state of formation; (ii) are duly qualified to transact business and is in good standing in North Carolina; (iii) are not in violation of any provision of its organizational documents; (iv) have full corporate power to own their properties and conduct their business; (v) have full power Attachment number 3 G -4 Page 561