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Exhibit A and incorporated herein by reference, the public purpose <br />encourage economic growth and development within the County; and <br /> <br />of which is to <br /> <br /> WHEREAS, Philip Morris has determined that the Facility is a suitable location for <br />the investment in, and the Installation of the New Personal Property; and <br /> <br /> WHEREAS, to induce Philip Morris to locate the New Personal Property at the <br />Facility and to assist Philip Morris in such activity, the County has offered incentives to <br />Philip Morris consistent with the Program as described herein; <br /> <br /> NOW, THEREFORE, in consideration of the mutual promises set forth in this <br />Agreement and other good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, the County and Philip Morris do hereby agree as follows: <br /> <br />1.0 Incentive Grant. <br /> <br /> 1.1 Grant Award. Pursuant to the Program, the County shall, 'in:.a.ccordance with <br />and as provided by this Agreement, pay to Philip Morris an incentive grant (the "Grant") as <br />provided herein. The Grant shall initially be calculated at Level III of the Program, i.e. an <br />amount equal to eighty-five percent (85%) of the increase in property tax paid by Philip <br />Morris as occasioned by the installation of the New Personal Property at the Facility. The <br />Grant shall be calculated over an award period of three (3) consecutive years (the "Grant <br />Award Period") beginning on a date to be selected by Philip Morris (the "Trigger Date"). <br /> <br /> <br />