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LOCAL GOVERNMENT GRANT AGREEMENT <br /> THE ONE NORTH CAROLINA FUND <br /> Local Government Name: Orange County Grant No. 2011-7604 <br /> Project Name: AKG North America, Inc. (with AKG North American <br /> Operations,Inc.,AKG of America,Inc. and AKG Thermal <br /> Systems, Inc. as Related Members) <br /> STATE OF NORTH CAROLINA <br /> GRANT AGREEMENT <br /> COUNTY OF WAKE <br /> This Local Government Grant Agreement(the"LGGA")is effective the 15''day of June,2011 <br /> (the"Effective Date")by and between the County/City of Orange,North Carolina(hereinafter referred <br /> to as the"Local Government'),and the North Carolina Department of Commerce(hereinafter referred <br /> to as "DOC"); <br /> WITNESSETH: <br /> WHEREAS;the Local Government desires to stimulate and develop the local economy of its <br /> region,alleviate the problems of unemployment and underemployment by creating and/or retaining jobs for <br /> its citizens,and develop its local tax base;and <br /> WHEREAS;the General Assembly has created the One North Carolina Fund(the"Program")to <br /> make funding available within North Carolina"to secure commitments for the recruitment,expansion or <br /> retention of new or existing businesses";and <br /> WHEREAS;the General Assembly has authorized Program funds to be used for installation or <br /> purchase of equipment;structural repairs,improvements,or renovations to existing buildings to be used for <br /> expansion;construction of or improvements to new or existing water,sewer,gas or electric utility <br /> distribution lines or equipment for existing buildings;and construction of or improvements to new or <br /> existing water,sewer,gas or electric utility distribution lines or equipment for new or proposed buildings to <br /> be used for manufacturing and industrial operations;and <br /> WHEREAS;the Local Government has applied for funds in connection with activity to be <br /> undertaken by AKG North America,Inc. (the"Company"),a business that has competitively chosen to <br /> locate or expand operations for the following project(the"Project')in North Carolina: <br /> A manufacturing plant(the"Facility")at which the company will manufacture heat exchanger <br /> and cooling solutions in or around the town of Mebane in Orange County,North Carolina. <br /> 1 <br />