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AGREEMENT <br /> <br /> THIS AGREEMENT (this "Agreement") is made and entered into this the. day of <br /> , 1998 among CABARRUS COUNTY (The "County"), a political subdivision <br />of the State of North Carolina, THF. CITY OF CONCORD, a political subdivision of the State <br />of North Carolina (the "City"), and AMERISERVE FOOD DISTRIBUTION, INC., a Delaware <br />Corporation ("AmeriServe"). <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, AmeriServe currently plans to construct a facility (the "FacilitY"), as <br />generally described in the attached ~, although the plans for such Facility may be <br />modified from time to time by AmeriServe; and <br /> <br /> WI-W~REAS, .AmeriServe has received a proposal from the County which provides for <br />certain economic incentives to encourage the development of the Facility within Cabarrus County, <br />and AmeriServe has considered requesting similar proposals from competing communities; and <br /> <br /> WHEREAS, AmeriServe has detemfined that the real property located in Cabarrus <br />County, North Carolina, more particularly described on Exhibit B attached hereto and <br />incorporated herein by this reference and all building, machinery, equipment and other personal <br />property thereon (collectively, the "Property") is a suitable location for the development of the <br />Facility; and <br /> <br /> WHEREAS, the City may annex the Property (as defined below) in the near future, and <br />agrees and desires, upon annexation, to offer AmedServe similar tax incentives as described in this <br />Agreement; and <br /> <br /> WHEREAS, in order to encourage AmeriServe to develop the Facility on the Property, <br />and to assist AmeriServe in such activity, the County and the City have offered the incentives and <br />other agreements set forth below; and <br /> <br /> WItEREAS, after careful consideration and evaluation of this proposal, AmeriServe has <br />substantially based its decision to locate the Facility in the County on the incentives and 'other <br />agreements from the County and the City contained in this Agreement. <br /> <br /> NOW, Tt~REFORE, in consideration of the mutual promi~qes set forth in this Agreement <br />and of other consideration, the receipt and sufficiency of which are now acknowledged by the <br />parties, the County, the City, and AmeriServe do hereby agree as follows: <br /> <br /> SECTION 1. ~cenfive Grants from the County_. The County shall, in accordance with <br />and as provided by this Agreement, agree to pay AmeriServe the incentive grants (each a "Grant" <br />and, collectively, the "Grants") generally described in the Industrial Development Incentive <br /> <br />1 <br /> <br /> <br />