AG 1997 07 21 - Laserfiche WebLink

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The one time payment of $671,970.16 made by the County to Stanley along with the previous investment of $61,709.40 made by the County during the construction process of the proj eot constitute the total financial incentives to be paid to Stanley by the County. It is also acknowledged that the County incurred both direct and indirect expenses and expenditures in support of Stanley's efforts to construct the Facility within Cabarms County. The County also assisted Stanley in dealing with the State of North Carolina and its agencies involved during the development of the project and construction of the Facility. SECTION 2. Validi ,ty of Incentives. It is understood that the incentives outlined within this Agreement and provided to Stanley have since been modified and are no longer available. A new system defined as the Cabarms County Industrial Development Incentive Grant Program has replaced the basis of the proposal which was negotiated with Stanley. In the event one or more lawsuits or other proceedings ~-~brought against the County or any elected official of the County challenging the legality of this Agreement or any portion thereof, the County shall de?end Stanley against any and all such lawsuits or other proceedings, including appealing any adverse judgement to the appropriate court. In the event that any of the incentives, agreements or other assistance by the County are determined to be invalid, the County agrees that it will, to the extent permitted by law, provide Stanley with incentives of substantially equal value pursuant to one or more replacement grant incentive programs. SECTION 3. Miscellaneous 4.1 Notices. Ali notices, certificates or other communications required by or made pursuant to this Agreement shall be deemed sufficiently given when delivered or mailed by registered or certified mail, postage prepaid or sent by telefacsimile (confirmed by the party providing notice) as follows: The County: Cabarms County Governmental Center P.O. Box 707 Concord, North Carolina 28026-0707 Attention: County Manager Telefacsimile No. (704) 788-9820 Copy To:~,. Fletcher L !:l~t~ell, Jr., Esq. Hartsell, Hartsell, Spainhour & Shelley, P.A. P. O. Box 368 Concord, North Carolina 28026 Telefacsimile No. (704) 788-8058 Stanley: The Stanley Works 480 Myrtle Street New Britain, Connecticut 06053 Attention: Vice-President / Controller Telefacsimile No. (860) 827-5645