AG 1997 09 15 - Laserfiche WebLink

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Section, if Mills commences construction ofa:'Phase II" expansion of the Project of at least 250,000 square feet of GLA and such construction commences prior to expiration of the initial 5-year Grant period for the Project then, in that event, the parties agree that such Phase II shall be eligible for a Level III Grant (75% level) for a separate five-year Grant period beginning on a substantially equivalent "commencement date" as that described herein for the Project. By way of example only, in the event that Mills commences construction on at least 250,000 square feet of GLA'in a "Phase II" prior to expiration of the initial 5-year Grant for the Project, the Phase II would be added to the then current GLA for the Project and therefore the Phase II would qualify for Grants equivalent to a 1,650,000 project (assuming a 1,400,000 GLA for the current Project and 250,000 GLA for Phase II) and not be considered a separate 250,000 GLA project. SECTION 5: State Incentives. The City and the County agree to assist Mills in obtaining any incentives, grants and programs that may be or become available from the State of North Carolina and shall "pass through" to the benefit of Mills any incentives, grants and programs that the State of North Carolina provides to cities and counties for economic development purposes. SECTION 6: Validity of Incentives. As stated in each of the Programs, no change in the Programs after the date hereof shall apply to the provisions of this Agreement or to the Project (as it may be further expanded). In the event one (1) or more lawsuits or other proceedings are brought against the City or the County or any City or County official challenging the legality oi/this Agreement or any portion hereof, then the City and the County shall defend against any and all such lawsuits or other proceedings, including appealing any adverse judgment to the appropriate Court. In the event that any of the economic incentives or 12 3