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<br />C. "Company." Mormaga America Foods, Inc. and includes its affiliates, successors, and
<br />assigns.
<br />D. "Eligible Property." Includes (a) the Subject Property (as defined in Exhibit A, Legal
<br />Description of Real Property), other real property in the County, and all improvements
<br />the Company or an Affiliate of the Company constructs or installs, or causes to be
<br />constructed or installed, at the Subject Property or such other real property, including all
<br />buildings, building systems, and building improvements, and (b) all personal property
<br />(as defined in Exhibit C, Personal Property) the Company or an Affiliate of the
<br />Company purchases or leases and installs, at or relocates to, the Facility or such other
<br />real property.
<br />E. "Grant." An economic incentive grant to the County pursuant to Section 2C of this
<br />Agreement.
<br />F. "Inducement Grant." An economic development grant provided to Company for the
<br />purpose of securing the Company's location of its manufacturing facility in Orange
<br />County, North Carolina. -
<br />G. "Minimum Taxable Investment." The amount of $34,000,000 which represents eighty
<br />percent (80 %) of an aggregate Qualifying Expenditure made by the Company of
<br />approximately $42,500,000.
<br />H. "Orange County Facility" "Mebane Facility," or "Facility." The Company constructed
<br />and/or owned primary and secondary structures, utilities, and operations and service
<br />areas situated on the Subject Property in Mebane, Orange County, North Carolina in and
<br />on which Company conducts its business, manufacturing, and/or operations.
<br />L "Person." Any individual, partnership, trust, estate, association, limited liability
<br />company, corporation, custodian, nominee, governmental instrumentality or agency,
<br />body politic or any other entity in its own or any representative capacity.
<br />J. "Personal Property." All personal property the Company or an Affiliate owns or leases
<br />located at the Facility, including all (a) machinery and equipment, (b) furniture,
<br />furnishings, and fixtures, (c) property that is capitalized for federal or state income tax
<br />purposes, (d) all additions to any of the foregoing, and all replacements of any of the
<br />foregoing in excess of $100,000.
<br />K. "Qualifying Expenditure." All expenditures the Company, an Affiliate, or lessor to the
<br />Company or an Affiliate makes for Eligible Property which is subject to Tax in the
<br />County and is not subject to an exemption from Tax that the Company uses.
<br />L. "State." The State of North Carolina.
<br />M. "Subject Property." The property on which Company constructs and/or operates the
<br />Orange County Facility.
<br />2054461.2
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