AG 2018 11 19 - Laserfiche WebLink

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(b) The Assessor has had the reasonable opportunity to review, evaluate and verify a value for the New Investment. The County agrees that each annual Grant payment to be made to Project Jersey Hydro Applicant during the respective term shall be made within ninety (90) days after payment by Project Jersey Hydro Applicant of the respective annual property taxes due to the County and the delivery of the Assessor's Statement; provided, however, that if at the time of such property tax payment Project Jersey Hydro Applicant has not paid all taxes due and payable to the County, including but not limited to taxes disputed by Project Jersey Hydro Applicant, the County shall withhold the annual Grant payment until such time that Project Jersey Hydro Applicant is current on payment of all such taxes. 2. State and County Incentives. The County agrees to assist Project Jersey Hydro Applicant in obtaining any incentives, grants and programs that may be or become available from the State of North Carolina and/or the City of Concord; however, the County shall not be responsible for obtaining or paying any State or County incentives to Project Jersey Hydro Applicant, except as otherwise provided by law. 3. Validity of Incentives. As stated in the Program, no change in the Program after the date of this Agreement shall apply to the provisions of this Agreement or to the New Investment or the Facility (as it may be expanded or modified) unless otherwise agreed to in writing by the County and Project Jersey Hydro Applicant. In the event one or more lawsuits or other proceedings are brought against the County or any County elected official challenging the legality of this Agreement or any provision, the County shall defend against any and all such lawsuits or other proceedings, including appealing any adversejudgment to the highest appellate court of the State of North Carolina. In the event that any of the incentives or other agreements of the County are determined to be invalid, the County agrees that it will, to the extent permitted by law, provide Project Jersey Hydro Applicant with incentives of substantially equal value pursuant to one or more replacement incentive grant programs. 4. Noncompliance by Project Jersey Hydro Applicant. Project Jersey Hydro Applicant acknowledges that at any time during the period that a Grant is paid or is to be paid to Project Jersey Hydro Applicant by County, if Project Jersey Hydro Applicant has (a) failed or fails to make or maintain the New Investment, (b) fails to continue in business a fully operational Facility or (c) fails to comply with any provision of this Agreement, (d) any representation about jobs in the EDC's overview attached as Exhibit B or any provision of the Program applicable to this Agreement, then Project Jersey Hydro Applicant shall be in default of this Agreement. In any such event, the County shall give written notice to Project Jersey Hydro Applicant describing such default. In the event that Project Jersey Hydro Applicant shall fail to cure such default within 90 days of having received such written notice, the County may at its option terminate this Agreement and withhold all further Grant payments and require repayment of all prior Grant payments. Page 208