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<br /> —Please return this copy to the Clerk to the Board's —
<br /> office for permanent agenda file.
<br /> delayed by causes beyond the control of the Company,the Commencement Date is
<br /> anticipated to be no later than December 1, 2015.
<br /> C. "Company." Morinaga America Foods, Inc. and includes its affiliates, successors, and
<br /> assigns.
<br /> D. "Eligible Property." Includes(a)the Subject Property (as defined in Exhibit Al 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 /> 1. "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 /> 2054461.2
<br /> 21896-200 Page 2 of 12
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