Orange County NC Website
16, <br /> Rural Economic Development Grant Agreement,Private Owner <br /> BUILDING REUSE PROGRAM—Revision#3 2020.026-3201.2587 <br /> The North Carolina Department of Commerce("Commerce"),an agency of the State of <br /> North Carolina("State"),enters into this Rural Economic Development Grant Agreement <br /> ("Grant Agreement")with Orange County(the"Governmental Unit"and, together with <br /> Commerce,the"Parties"). <br /> WHEREAS,the North Carolina General Assembly("General Assembly") has <br /> determined that it is the policy of the State to stimulate economic activity and to create new jobs <br /> for citizens of the State by providing matching grants or loans to specific local governmental <br /> units so as to productively reuse certain buildings and properties or expand rural health care <br /> facilities subject to the requirements ofN.C.G.S. §§14313-472.127 and .128; and <br /> WHEREAS,under N.C.G.S. §14313-472,128,the General Assembly created the North <br /> Carolina Rural Infrastructure Authority("Rural Authority")to review applications for and, <br /> where appropriate,authorize such matching grants or loans,and,under N.C.G.S. §§14313- <br /> 472.126 and.127,the General Assembly authorized Commerce to administer such grants or f <br /> loans;and <br /> I <br /> WHEREAS,pursuant to N.C.G.S. §§14313-472.127 and.128,and based on the terms, <br /> conditions and representations in this Grant Agreement's Exhibits A (Scope of Project), Exhibit <br /> B(Payment Schedule),Exhibit C(Reporting Schedule),Exhibit D(Closeout Schedule/Job <br /> Requirements),Exhibit E(LBC), Exhibit F(Promissory Note)and Exhibit G(Waiver of <br /> Confidentiality("Waiver")),the Rural Authority has approved a grant(the"Grant")to the <br /> Governmental Unit;and <br /> WHEREAS,without limitation,the Rural Authority awarded the Grant: (1)based on the <br /> application fled by the Governmental Unit and any subsequent materials supporting the <br /> application that have been approved of by Commerce in writing,all of which are incorporated by <br /> reference herein; (2)based on the representation in the application that Industrial Connections <br /> &Solutions,LLC(the"Owner")owns certain real property located at: <br /> 6801 Industrial Drive <br /> Mebane,NC 27302 <br /> in Orange County,North Carolina(the"Property");(3)based on Commerce's Grant <br /> requirements and guidelines,which are incorporated herein and which may be amended, <br /> modified or supplemented and applied accordingly to this Grant Agreement by Commerce in its <br /> sole discretion; and for(4)the creation and retention of certain jobs in the course of completing <br /> certain renovations/construction work at the Property(altogether, the"Project,"as summarized <br /> in Exhibit A to this Grant Agreement), <br /> NOW,THEREFORE, in consideration of the mutual promises and such other valuable <br /> consideration as set out herein,the Parties mutually agree to the following terms and conditions: <br /> Grant Agreement- 1 <br />