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will provide Oiles with the tax incentives set forth in <br />this Agreement, in accordance with the terms and conditions <br />of this Agreement and the Program. <br /> <br />(a) <br /> <br />Facilities. Within fifteen (15) months following <br />execution of this Agreement, Oiles commits to complete <br />construction of and obtain certificates of occupancy for. <br />the new expansion at the existing facility at the Site, <br />which will serve as an expansion of the existing facility <br />of at least 32,120 additional square feet; for an <br />aggregate initial minimum additional taxable investment <br />of Two Million Seven Hundred and Fifty Thousand Dollars <br />($2,750,000.00) (the "Facility"). <br /> <br />(b~. Personal Property/Improvements. Within fifteen (15) <br /> months from execution of this Agreement, Oiles will also <br /> install new additional Personal Property at the expanded <br /> facility at a minimum cost of an additional Three Million <br /> One Hundred Fifty Thousand ($3,150,000.00) (the "Personal <br /> Property"). (The new expansion to the existing facility <br /> and the new additional Personal Property added to the <br /> expanded facility may be collectively referred to as the <br /> "Improvements".) Oiles represents to the County that the <br /> Improvements will result in the hiring of a minimum of 20 <br /> additional new permanent full-time jobs at the Site, <br /> creating a minimum of one hundred (100) full-time <br /> employees at the Site. Such minimum additional employment <br /> level will be maintained throughout the Grant period. <br /> <br />(c) <br /> <br />Employment Goals. Oiles will provide an aggregate new <br />full-time employment level at the Site of a minimum of <br />100 full-time employees, as determined in accordance with <br />the provisions of Exhibit D, attached hereto and <br />incorporated herein. In its hiring, Oiles will give such <br />preferences as are allowed by law to residents of the <br />city of Concord and the County. <br /> <br />(d) <br /> <br />Failure to Comply with Grant Expectations. Oiles <br />acknowledges that at the end of the fifteen (15) month <br />construction period and at any time thereafter during the <br />term of this Agreement, if Oiles has failed or fails to: <br />(a)attain a minimum of the projected level of new full- <br />time employees as determined herein and calculated in <br />accordance with Exhibit D; or (b) attain a minimum of the <br />committed expenditures for the new expansion to the <br />existing facility or the new additional Personal Property <br />at the Site; the County shall reserve the right to <br /> <br /> <br />