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NORTH CAROLTNA <br /> <br />CABARRUS COUNTY <br /> <br />[NDUSTR.[AL INCENTIVE <br />GRANT AGREEMENT <br /> <br />TH]:S AGREEMENT (~his "Agreement") is made and entered into as of the 27 <br />day of August, 1998, among CABARRUS COUNTY (the "County"), a political <br />subdivision of the State of North Carolina; the cTrY OF CONCORD (the "City~'), <br />a municipal corporation of the State of North Carolina; and PASS AND <br />SEYMOUR ("P&S"), a North Carolina corporation. <br /> <br />W[TNESSETH: that- <br /> <br />WHEREAS, PSiS located 4515 Enterprise Drive NW, Concord, North Carolina (the <br />"Property'% currently plans to underCake capital equipment expansion, as <br />generally described in the attached Exhibit A, and <br /> <br />WHEREAS, the anticipated capital equipment investment is Ten Million Dollars <br />($10,000,000.00) (the "Anticipated Project Value''); and <br /> <br />WHEREAS, in order to induce P&S to undertake capital expansion, and to assist <br />P&S in such activity, the City and the County hereby offer to P&S various <br />incenUves and other agreements hereinal~er set forth; and <br /> <br />WHEREAS after careful consideration and evaluation of these proposals, P&S <br />has based its decision to expand its operation upon the property for flqe <br />Anticipated Project Investment in reliance upon the incenUves and 'other <br />agreements from the City and the County contained in this Agreement. <br /> <br /> <br />