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DRAFT <br />1-12-04 <br /> <br />INCENTIVE GRANT AGREEMENT <br /> <br />(National Tour) <br /> <br /> This Agreement (the "Agreement"), made and entered as of the <br /> day of , 2004, by and between CABARRUS COUNTY (the <br />"County"), a body politic and political subdivision of the State <br />of North Carolina, and NATIONAL TOUR, INC., ("Grantee"), a <br />California Corporation. <br /> <br /> WHEREAS, Grantee is considering locating 60,000 square foot <br />headquarters and operations facility to Cabarrus County, N.C. (the <br />"Facility") by constructing new facilities in the County at an <br />estimated cost of Five Million Dollars ($5,000,000.00) (the "New <br />Real Property Investment") and by installing furniture, fixtures <br />and equipment therein at an estimated cost of an additional One <br />Million Dollars ($1,000,000.00) (the "New Personal Property <br />Investment") (hereinafter sometimes cumulatively referred to as <br />the ~New Investment"); and <br /> <br /> WHEREAS, Grantee has received various proposals offering <br />economic incentives to induce it to place or replace the New <br />Investment at other sites outside the County; and <br /> <br /> WHEREAS, the County has previously adopted an Industrial <br />Development Incentive Grant Program (the "Program"), a copy of <br />which is attached hereto marked Exhibit A and incorporated herein <br />by reference, the public purpose of which is to encourage economic <br />growth and development within the County; and <br /> <br /> WHEREAS, Cabarrus Economic Development, Inc. (the ~EDC") has <br />reviewed Grantee's application for inclusion in the Program, and <br />EDC's overview thereof is attached hereto as Exhibit B and <br />incorporated herein by reference; and <br /> <br /> WHEREAS, Grantee has determined that relocation of its <br />operations and headquarters to the West Winds Business Park, <br />Concord, NC (the "Site") in the County is a suitable location for <br />the placement of the Facility and the New Investment; and <br /> <br /> WHEREAS, to induce Grantee to locate the New Investment in the <br />Facility at the Site and to assist Grantee in such activity, the <br />County has offered incentives to Grantee consistent with the <br />Program as described herein; <br /> <br /> <br />