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12 <br /> D. GUARANTEED MINIMUM LEVEL OF PERFORMANCE: The Company agrees that its <br /> minimum level of performance pursuant to this Agreement shall be as set out in this Section 2. <br /> Furthermore, Company agrees that failure to meet the minimum level of new employment as <br /> reflected in Section 2.B. shall entitle the County to make reductions in inducement installments <br /> paid to the Company in an amount of Five Hundred dollars ($500.00)per employee not hired as <br /> reflected in Exhibit B. Company further agrees that failure to meet the minimum level of direct <br /> investment as reflected in Section 2.A. shall entitle County to make pro rata reductions in <br /> inducement installments paid to the Company as set out in Section 3. It is agreed and <br /> understood by the Parties hereto that the failure of the Company to meet the level of <br /> performance with respect to minimum level of investment or minimum level of new <br /> employment as specified herein shall not be considered a breach of this Agreement. <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 North Carolina General Statutes and that should such statutory authority be withdrawn by the 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 /> North Carolina General Assembly,the County may terminate this Agreement without penalty to <br /> County and without County's further compliance with this Agreement. If a court having lawful <br /> jurisdiction determines the inducement grant itself is illegal, invalid, or unenforceable this <br /> Agreement shall immediately terminate without further obligation to the Parties except that the <br /> amount of any portion of the inducement grant already paid by the County shall be reimbursed <br /> to the County by the Company. <br /> 3. INDUCEMENT PACKAGE <br /> A. COUNTY INDUCEMENT GRANT: The County,upon execution of this Agreement, shall <br /> provide to the Company an Inducement Grant to offset facility development, expansion, and <br /> acquisition costs in an amount up to and not to exceed One Hundred Thousand Four Hundred <br /> Thirty Three Dollars ($100,433.00). This Inducement Grant shall be payable in up to five <br /> installments over a five-year period(the "Inducement Grant Period"). The Inducement Grant, <br /> including each individual installment thereof, represents approximately seventy-five percent <br /> (75.0%) of the actual property tax for real and Personal Property taxes attributable to the amount <br /> of the Total Taxable Investment due and paid in each year of the Inducement Grant Period,up to <br /> the maximum not to exceed amount. The estimated annual amount of each year's grant payment <br /> is shown in Exhibit F for years two (2026) through six(2030). Subject to Section 6.B.,below, or <br /> delays caused by an event of Force Majeure, the first and second installments of the Incentive <br /> Grant shall occur no later than June 30 of the 2027 and 2028 calendar years respectively,upon <br /> receipt of proof reasonably satisfactory to the County, as described in Section 5 of this <br /> Agreement, that the investment numbers referenced in Section 2 of this Agreement have been <br /> met and that all local property taxes on the real and Personal Property owned by the Company <br /> and located within Orange County have been fully paid. Subsequent annual installments are <br /> anticipated to occur during the month of January for the term of this Agreement upon receipt of <br /> proof reasonably satisfactory to the County that the minimum employment and investment <br /> numbers have been met and that all local property taxes on the real and Personal Property owned <br /> by the Company and located within Orange County have been paid in full. Should the Company <br /> meet the investment goals before all job creation has been completed, the County will withhold <br /> $500.00 per job that may remain to be created by December 31, 2029 and will pay out the final <br /> amount upon proof satisfactory to the County of the job creation according to the job schedule <br /> outlined in Exhibit B.,with the final installment occurring by June 30,2031. No installment <br /> shall be required to be paid until such time as the County receives proof of the payment of all <br />