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<br />WHEREAS, the COUNTY and the CITY desire to enter into this <br /> <br />Agreement for the purpose of facilitating the payment of CITY funds to <br /> <br />the COMP~~Y wlder a Jobs Growth Incentive Grant, <br /> <br />NOW, THEREFORE, in consideration of the premises and mutual <br /> <br />covenants <br /> <br />hereinafter <br /> <br />contained <br /> <br />and <br /> <br />other <br /> <br />good <br /> <br />and <br /> <br />valuable <br /> <br />consideration, <br /> <br />the receipt and sufficiency of which is hereby <br /> <br />acknowledged, the parties do hereby covenant and agree as follows: <br /> <br />l. Pursuant to its Jobs Growth Incentive Program Agreement <br /> <br />wi th the COMPANY, the COUNTY agrees to pay to the COMPANY the total <br /> <br />sum of SIXTY THOUSAND AND NO/100 DOLLARS ($60,000.00) upon the <br />COMPANY's fulfillment of certain conditions as expressed in said <br /> <br />Agreernen t. <br /> <br />2. The CITY agrees to pay to the COUNTY the sum of THIRTY <br /> <br />THOUSAND AND NOflOO DOLLARS ($30,000.00) as its portion of the Jobs <br /> <br />Growth Incentive Grant to the COMPANY. <br /> <br />Said sum shall be paid to the <br /> <br />, <br /> <br />COUNTY no later than thirty (301 days after the CO\lliTY's verification <br /> <br />to the CI'rY that the COMPANY has fulfilled all conditions necessary to <br /> <br />qualify for the COUNTY's Jobs Growth Incentive Grant. <br /> <br />3. The COUNTY agrees to provide the CITY with copies of all <br /> <br />annual reports and other documents provided to the COUNTY by the <br /> <br />COMPANY pursuant to the COUNTY's Agreement with the COMPANY, and <br /> <br />further, the COUNTY agrees to notify the CITY when the COMPANY has <br /> <br />satisfied all of its obligations to the CITY and the COUNTY under the <br /> <br />COUNTY's Jobs Growth Incentive Program Agreement with the COMPANY. <br /> <br />4. In the event of the COMPANY's default in its Agreement with <br /> <br />the COUNTY, all monetary recoverables shall become the sole property <br /> <br />3 <br />