AG 2004 05 17 - Laserfiche WebLink

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and PPI acknowledge that subsequent to December 2003, PPI advised the County of its plans to greatly expand its initially contemplated County investments and employment commitments, which resulted in further d~scussions and negotiations with the County. PPI and the County acknowledge and agree certain specific terms in this Agreement are unique and negotiated between the parties to accommodate PPI's substantially Increased financial investments and employment commitments to the County and are therefore conflict with certain terms and conditions of the Program. Therefore, PPI and the County agree that to the extent certain terms and conditions of this Agreement conflict with specific terms and conditions of the Program, the terms and conditions of this Agreement shall control. Furthermore, the County and PPI agree that in consideration for the County's willingness to negotiate special and unique grant terms to achieve PPI's Increased level of investment and local employment commitments within the County, as well as to accommodate the timing of PPI's plant construction and expansion schedule, unless specifically agreed to otherwise in writing by the County, PPI understands and agrees that upon execution of this Agreement, PPI shall not be eligible for any other County incentive grant or similar County programs for a per~od of at least seven years beginning with the ~n~tlal grant year hereunder. ............ ---~Im'~l~l:¶ ~. Cabarrus Ec0nomi~ Development, -I~c. i"EDC") has reviewed PPI's application for inclusion in the Program, and EDC's overview is attached as Exhibit B and incorporated by reference. 7. PPI has determined that a site in the Town off Highway 49 ("Site"), which Site is more fully described in Exhibit C attached, is a suitable location for the placement of the above- described new real property facilities and personal property investments and perhaps other investments. 8. To induce PPI to locate the above referenced new real property facilities and personal property investments at the Site and to assist PPI in such activity, the County has offered incentives to PPI consistent with the Pro~ram and as more particularly described below. In consideration of the above Recitals and the Terms below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the County and PPI do a~ree as follows.