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33 <br /> required by Section 2B of this Agreement shall entitle the County to increase the purchase price <br /> of the option to purchase as such option to purchase is provided for in the Lease. Such increase in <br /> the purchase price of the option to purchase shall be equal to five hundred dollars ($500)per job <br /> in each job creation year in which the 90% Target is not achieved(the "Job Creation Shortfall <br /> Penalty"). The Job Creation Shortfall Penalty shall be applied to the purchase price of the option <br /> to purchase on a cumulative basis following the year in which the 90%Target is not achieved, as <br /> applicable, in accordance with Exhibit A to this Agreement,which is attached hereto and <br /> incorporated herein by reference.Notwithstanding the foregoing provisions of this Section 2(D), <br /> if the Company believes that it will not meet employment goals that are to be met pursuant to this <br /> Agreement by June 1, 2024 and the Company has not yet purchased the property, then the the <br /> hiring schedule outlined in Exhibit A, and all other applicable dates and deadlines hereunder may <br /> be delayed up to one (1)year, at the option of the Company. Written notification of the exercise <br /> of this option to delay onset must be received by the County no later than June 15, 2024. <br /> E. STATUTORY COMPLIANCE: The Company understands that the County's participation is <br /> contingent upon authority found in North Carolina General Statute 158-7.1 and other relevant <br /> North Carolina General Statutes and that should such statutory authority be withdrawn by the <br /> State of North Carolina the County may terminate this Agreement without penalty and without <br /> further compliance with this Agreement. <br /> 3. INDUCEMENT GRANT <br /> A.COUNTY INDUCEMENT GRANT: Subject to the limitations set out herein the County, <br /> upon execution of this Agreement and the Lease and subsequent to the Lease Inspection Period, <br /> shall provide to the Company an Inducement Grant to offset Facility development,upfit, <br /> remodeling, expansion, and acquisition costs in the amount of Two Million Dollars <br /> ($2,000,000.00)payable in not more than four(4) installments equaling the actual eligible <br /> expenditures then incurred by the Company to the date of such expenditure over a period of not <br /> more than two (2)years from the first installment. Installments shall be paid within thirty (30) <br /> days of County's receipt of Company's request for payment and documentation. Such <br /> documentation shall demonstrate invoices,purchase orders, and/or receipts describing the <br /> anticipated expenditure of funds for upfit,remodeling, and construction on and to Leased <br /> Premises have been submitted. The Inducement Grant SHALL NOT EXCEED Two Million <br /> Dollars ($2,000,000.00). This is the maximum allowable Inducement Grant amount to be paid <br /> in installments to the Company. Should the Company exercise its right to terminate the Lease <br /> during the Lease Inspection Period or for any reason, except purchase of the Subject Property, <br /> during the Term, the Company shall not be eligible for, and the County shall not be obligated to <br /> pay,the Inducement Grant and the County shall be released from all further responsibility <br /> except as described in Section 3.C. below. <br /> B. PAYMENT OF INDUCEMENT GRANT: Participation in this Agreement shall not exclude <br /> the Company from consideration for additional inducements from the County either during or <br /> upon completion of this Agreement. <br /> C. ADDITIONAL COUNTY COMMITMENT: The Company shall be eligible for an annual <br /> Expansion Inducement Grant if it either(i)purchases the Subject Property prior to September <br /> 30, 2026 or(ii)terminates the Lease during the Inspection Period as described in Section 23 of <br /> Page 5 of 17 <br />