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WHEREAS, after careful consideration and evaluation of this proposal, BOC has substantially <br />based its decision to locate the Facility in the County on the incentives and other agreements from the <br />County contained in this Agreement. <br /> <br /> NOW, THEREFORE, in consideration of the mutual promises set forth in this Agreement and <br />of other consideration, the receipt and Shfficiency of which are now acknowledged by the parties, the <br />County and BOC do hereby agree as follows: <br /> <br /> SECTION 1. Incentive Grants. The County shall, in accordance with and as provided by this <br />Agreement, agree to pay BOC the incentive grants (each a "Grant" and, collectively, the "Grants") <br />generally described in the Industrial Development Incentive Grant Programs (collectively, the <br />"Program") as previously approved by the Board of County Commissioners of the County, a copy of <br />which is attached hereto as Exhibit C. The County hereby confirms that the Board of County <br />Commissioners has approved the application of the Program to the Facility and has authorized the Grants <br />and the other terms of this Agreement. The County further confirms that this Agreement constitutes the <br />"formal agreement" required under the Program and that the terms of this Agreement and the applicable <br />terms contained in the attached description of the Program (Exhibit C) shall govern the application of the <br />Program to the Facility. <br /> <br /> These parties agree that the five-year period for thc initial Grant to BOC shall begin with such <br />fiscal year of the County as BOC shall elect by written notice to the County but shall begin no later than <br />one fiscal year within twelve months of the completion of the proposed project as defined by BOC. The <br />project shall begin construction not later than .lanuary l, 2000 and the grant period of five years shall be <br /> <br /> <br />