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DRAFT 9-02-05 INCENTIVE GRANT AGREEMENT (Cabarrus Plastics, Inc.) This Agreement (the "Agreement"), made and entered as of the day of 2005, by and between CABARRUS COUNTY (the "County"), a body politic and political subdivision of the State of North Carolina, and CABARRUS PLASTICS, INC. ("Grantee"), a North Carolina Corporation. WHEREAS, Grantee is considering locating an additional 42,000 square foot facility in Cabarrus County, N.C. (the "Facility") by constructing new facilities in the County at an estimated cost of Two Million Eight Hundred Thousand Dollars ($2,800,000.00) (the "New Real Property Investment"); by installing furniture, fixtures and equipment therein at an estimated cost of an additional Seven Million Dollars ($7,000,000.00) (the "New Personal Property Investment") (hereinafter sometimes cumulatively referred to as the "New Investment") and by creating eighteen (18) new jobs within the County; and WHEREAS, Grantee has received various proposals economic incentives to induce it to place or replace Investment at other sites outside the County; and offering the New WHEREAS, the County has previously adopted an Industrial Development Incentive Grant Program (the "Program"), a copy of which is attached hereto marked Exhibit A and incorporated herein by reference, the public purpose of which is to encourage economic growth and development within the County; and WHEREAS, Cabarrus Economic Development, reviewed Grantee's application for inclusion EDC's overview thereof is attached hereto incorporated herein by reference; and Inc. (the "EDC") in the Program, as Exhibit B has and and WHEREAS, Grantee has determined that relocation of its operations to Zion Church Road, Concord, NC (the "Site") in the County is a suitable location for the placement of the Facility and the New Investment; and WHEREAS, to induce Grantee to locate the New Investment in the Facility at the Site and to assist Grantee in such activity, the G-l