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c. Incentive payments are scheduled as follows: <br /> i. Building A (Phase 1), $155,000 cash payment within 30 calendar days. <br /> ii. Building B (Phase 2) ,$155,000 cash payment within 30 calendar days. <br /> d. If Buyer receives a certificate of occupancy from the City of Ramsey for Building <br /> B (Phase 2)by March 1, 2019, Seller shall provide Buyer an additional cash <br /> payment of$100,000 within 30 calendar days, for total incentive payment of <br /> $255,000 for Building B. <br /> 31. BUSINESS SUBSIDY ACT <br /> a. The business subsidy is the sale of the Property at the Purchase Price and is <br /> needed in order for development to occur on the Property. <br /> b. The public purpose is the development of the Property by the Buyer as required <br /> by this Agreement. <br /> c. The creation of jobs has been determined not to be a goal of the Seller for the <br /> Property pursuant to Minnesota Statutes, Sections 116J.993 to 116J.995 and the <br /> Seller has held a public hearing and set the wage and job goals at zero. <br /> d. The Buyer agrees that it shall continue operations within the City for at least five <br /> (5) years after the acquisition of the Property. <br /> e. There are no other state or local government agencies providing financial <br /> assistance for the Property other than the Seller. <br /> f. There is no parent corporation of the Buyer. <br /> g. The Buyer certifies that it does not appear on the Minnesota Department of <br /> Employment and Economic Development's list of recipients that have failed to <br /> meet the terms of a business subsidy agreement. <br /> h. The Buyer shall provide the Seller with information about the development of the <br /> Property as requested by the Seller so that the Seller can satisfy the reporting <br /> requirements of Minnesota Statutes, Section 116J.994, Subd. 8. <br /> i. The Purchase Agreement can't be executed until after the business subsidy <br /> hearing on October 18th. <br /> 32. COUNTERPARTS; DIGITAL COPIES. This Agreement may be executed in any <br /> number of counterparts and the signature pages of the separate counterparts combined <br /> into a single copy of this Agreement which will then constitute a fully executed version <br /> of this Agreement. A facsimile, .pdf file or digital copy of a signed counterpart or of an <br /> assemblage of counterparts of this Agreement shall be deemed to be an original thereof. <br /> 33.DEADLINE FOR REMOVAL OF CITY PROPERTY. The City shall have 120 days <br /> after the Effective Date of this agreement to remove: all bunker blocks located on the <br /> perimeter of the property(approximately 250+), approximately 100 tons of stock piled <br /> boulders/rocks, and approximately 500 tons of stock piled con-bit (class 5). <br /> 11 <br /> DOCS45557612-0 <br />