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Page 3: [1] Deleted Cabarrus County 5/3/2004 12:27 PM <br /> !n the event PP! fails, at any time, to construct the new facilities and <br />purchase the Personal Property as provided in this Agreement, the County shall <br />be under no further obligation to provide these tax incentives. <br /> <br />Phase !. During Phase !, PPI commits to construct a new manufacturing <br /> facility at the Site, totaling at least 200,000 square feet at an initial <br /> minimum taxable investment of Eight Million Dollars ($8,000,000.00) <br /> (the "Phase ! Facility"). !n addition, during Phase !, PPI will also install <br /> new Personal Property at the Facility at a minimum cost of an <br /> additional Nine Million Eight Dollars ($9,000,000.00) (the "Phase ! <br /> Personal Property'9. (The Phase ! Facility and Phase ! Personal <br /> Property may be collectively referred to as the "Phase ! <br /> Improvements".) PPI represents to the County that Phase ! <br /> Improvements will result in additional new permanent full-time <br /> jobs at the Site. <br /> <br />Page 3: [2] Deleted Cabarrus County 5/3/2004 12:27 PH <br /> installing additional new Personal Property in the Phase ! Facility <br /> <br />Page 4: [3] Deleted Cabarrus County 5/3/2004 12:27 PM <br /> may be collectively referred to as "Phase !!! Improvements".) PPI <br /> represents to the County that the addition of the Phase !!! <br /> Improvement <br /> <br />Page 4: [4] Deleted Cabarrus County 5/3/2004 12:27 PM <br /> IV. During Phase IV, PPI commits to installation of additional new <br /> Personal Property at the Site in an additional minimum <br /> <br />Page 4: [5] Deleted Cabarrus County <br /> County that the addition of the <br /> <br />5/3/2004 12:27 PM <br /> <br /> <br />