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This instrument has been pre-audited <br />In the manner requked by the Local Government <br /> <br />C'~ty ~f Concord Finance Director <br /> <br />County of Cabarrus Finance D/rector <br /> <br />NORTH CAROLINA Incentive <br /> Grant Agreement <br />CABARRUS COUNTY <br /> <br /> THIS INCENTIVE GRANT AGREEMENT (this "Agreement") is made and <br /> <br />entered into as of the ~ day of , 1998, by and among the COUNTY <br /> <br />OF CABARRUS, NORTH CAROLINA (the "County"), a political subdivision of the <br />State of North Carolina; the CITY OF CONCORD, NORTH CAROLINA (the <br />"City"), a municipal corporation of the State of North Carolina; and CABARRUS <br />COUNTY TOURISM AUTHORITY, an appointed board created by the Cabarrus <br />County Board of Commissioners, or its designee (the "Tourism Authority") (coIlectively <br />the "Grantors"); and Kings's Grant Conference Hotel, LLC, a North Carolina LLC (the <br />"Developer"); <br /> <br /> WITNESSETH: THAT <br /> <br /> WHEREAS, the Developer proposes to develop on certain property described on <br />Exhibit 1 attached hereto ("Property") the initial phase of a commercial hotel and <br />conference center project which initial phase shall consist of, among other things, <br />approximately 250,000 square feet of gross floor area, including 300 hotel rooms and a <br />conference center with 40,000 square feet of dedicated meeting space and is generally <br />described on Exhibit 1 attached hereto (hereinafter the "Project"); and <br /> <br />Filename - S~lann[ng~Incentive Grant Agreement.doc <br /> <br />Revised 12/18/98 <br /> <br /> <br />