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7 <br /> LEGALLY BINDING COMMITMENT <br /> STATE OF NORTH CAROLINA <br /> Orange County, Economic Development (APPLICANT) <br /> Morinaga America Foods, Inc. (COMPANY) <br /> PUBLIC FACILITIES AGREEMENT <br /> THIS AGREEMENT(the "Agreement")is entered into as of the seventh day of <br /> October , 2013 by and between Morinaga America Foods,Inc., a corporation authorized to <br /> transact business within the State of North Carolina(hereinafter referred to as the"Corporation") <br /> and Orange County Economic Development,North Carolina(hereinafter referred to as the <br /> "Applicant"). This Agreement will not become effective until all conditions placed upon the <br /> Applicant's funding approval are satisfied and funds are released by the Department of <br /> Commerce(hereinafter "DOC")pursuant to a Community Development Block Grant <br /> (hereinafter"CDBG")with the Applicant. <br /> WITNESSETII <br /> WHEREAS,the Applicant anticipates receiving a Community Development Block Grant <br /> from the Department of Commerce in the amount of $750,000 to be used primarily to benefit <br /> low to moderate-income persons by financing the economic development project to be <br /> undertaken by the Applicant and the Corporation(the "Project"). <br /> NOW,THEREFORE,in consideration of the promised and the mutual covenants and <br /> promises set forth herein,the Corporation and the Applicant hereby agree as follows: <br /> I. AGREED ACTIONS <br /> A. The Corporation shall execute its responsibilities as identified in Corporation's narrative <br /> exhibits and the employment profiles contained in the Applicant's CDBG application to DOC. <br /> Those exhibits and commitments are incorporated herein by reference, as if set out in full. The <br /> Corporation agrees to build and operate the Project in a timely manner. Briefly,those documents <br /> describe the construction/acquisition of a 98,000 square foot manufacturing facility (the <br /> "Facility")on a 21-acre site located in/adjacent to the City/Town of Mebane in Orange <br /> Coun ty ,North Carolina(the "County"). The Corporation currently has no operations in the <br /> CDBG-ED LBC Section 12(1) <br /> New Employer(Job Creation) <br />