Common use of Business Subsidies Act Clause in Contracts

Business Subsidies Act. (1) In order to satisfy the provisions of Minnesota Statutes, Sections 116J.993 to 116J.995 (the “Business Subsidies Act”), the Company acknowledges and agrees that the amount of the “Business Subsidy” granted to the Company under this Lease is the amount of the Bonds, and General Obligation Bonds and that the Business Subsidy is needed because the Project is not sufficiently feasible for the Company to undertake without the Business Subsidy. The public purpose of the Business Subsidy is to develop new jobs within the County and to develop an ethanol production facility in the County. The Company agrees that it will meet the following goals (the “Goals”): It will create at least 25 full-time equivalent jobs in connection with the development of the Plant at a wage of at least $8.30 per hour within two years from the “Benefit Date”, which is the earlier of date the Project is completed or placed in service. (2) If the Goals are not met, the Company agrees to repay all or a part of the Business Subsidy to the County, plus interest (“Interest”) set at the implicit price deflator defined in Minnesota Statutes, Section 275.70, Subdivision 2, accruing from and after the Benefit Date, compounded semiannually. If the Goals are met in part, the Company will repay a portion of the Business Subsidy (plus Interest) determined by multiplying the Business Subsidy by a fraction, the numerator of which is the number of jobs in the Goals which were not created at the wage level set forth above and the denominator of which is 25 (i.e. number of jobs set forth in the Goals). (3) The Company agrees to (i) report its progress on achieving the Goals to the County until the later of the date the Goals are met or two years from the Benefit Date, or, if the Goals are not met, until the date the Business Subsidy is repaid, (ii) include in the report the information required in Minnesota Statutes, Section 116A.994, Subdivision 7 on forms developed by the Minnesota Department of Employment and Economic Development, and (iii) send completed reports to the County. The Company agrees to file these reports no later than December 1 of each year commencing December 1, 2008, and within 30 days after the deadline for meeting the Goals. The County agrees that if it does not receive the reports, it will mail the Company a warning within one week of the required filing date. If within 14 days of the post marked date of the warning the reports are not made, the Company agrees to pay to the County a penalty of $100 for each subsequent day until the report is filed up to a maximum of $1,000, provided that the delay is due to causes within the control of the Company (4) The Company agrees to continue operations of the Project for at least five (5) years after the Benefit Date. (5) There is no parent corporation of the Company.

Business Subsidies Act. (1) The creation of jobs has been determined to be a goal of the City for the Project pursuant to Minnesota Statutes, Sections 116J.993 to 116J.995 and the City has held a public hearing and set the wage and job goals in accordance with the Owatonna Economic Development Authority Economic Development Incentives Policy adopted July 20, 2005, included on Exhibit C attached hereto. (2) In order to satisfy the provisions of Minnesota Statutes, Sections 116J.993 to 116J.995 (the “"Business Subsidies Act”"), the Company Developer acknowledges and agrees that the amount of the “"Business Subsidy” " granted to the Company Developer under this Lease Agreement is the amount Reimbursement Amount for the cost of the BondsPublic Infrastructure, and General Obligation Bonds Site Improvements and related costs paid by the Developer and reimbursed by Tax Increments and that the Business Subsidy is needed because the Project is not sufficiently feasible for the Company Developer to undertake without the Business Subsidy. The Tax Increment District is an economic development district and the public purpose of the Business Subsidy is to develop new jobs preserve and increase the tax base and encourage the expansion of employment in the City. The Developer as of the date of this Agreement had 618 full-time equivalent (FTE) employees within the County and to develop an ethanol production facility in the CountyCity. The Company Developer agrees that it will meet the following goals (the “"Goals”): It will create at least 25 full-time equivalent jobs ") in connection with the development of the Plant Development Property: (i) completion of the Project and occupancy thereof by the Developer for at a least five years after the "Benefit Date" of the business subsidy, which is hereby determined to be the date of the City’s Certificate of Occupancy for the completed Project; and (ii) the Developer agrees that it will retain the 618 FTE employees currently in the City and create at least 35 FTE jobs at an hourly wage of at least $8.30 15.45 per hour within hour. The Developer shall retain the 618 FTE employees for not less than two years from the “Benefit Date”, which is and shall create at least 35 FTE jobs within two years of the earlier of date the Project is completed or placed in serviceBenefit Date. (23) If the Goals are not met, with good cause the Company Developer agrees to repay all or a part of the Business Subsidy to the County, plus interest (“Interest”) City set at the implicit price deflator defined in Minnesota Statutes, Section 275.70, Subdivision 2, accruing from and after the Benefit Date, compounded semiannually. If the Goals are met in part, the Company Developer will repay a portion of the Business Subsidy (plus Interestinterest, if required by statute) determined by multiplying the Business Subsidy by a fraction, the numerator of which is the number of jobs in the Goals which were not created at the wage level set forth above and the denominator of which is 25 thirty-five (35) (i.e. number of jobs set forth in the Goals). (34) The Company Developer agrees to (i) report annually to the City its progress on achieving the Goals to the County until the later of the date the Goals are met or two years from the Benefit Date, or, if the Goals are not met, until the date the Business Subsidy is repaid, (ii) include in the report the information required in Minnesota Statutes, Section 116A.994116J.994, Subdivision 7 on forms developed by the Minnesota Department of Employment and Economic Development, and (iii) send completed reports to the CountyCity. The Company Developer agrees to file these reports no later than December March 1 of each year commencing December March 1, 20082021, and within 30 days after the deadline for meeting the Goals. The County City agrees that if it does not receive the reports, it will mail the Company Developer a warning within one week of the required filing date. If within 14 days of the post marked date of the warning the reports are not made, the Company Developer agrees to pay to the County City a penalty of $100 for each subsequent day until the report is filed up to a maximum of $1,000, provided that the delay is due to causes within the control of the Company. (45) The Company agrees represents that the following are all of the State of Minnesota and "local government agency" financial assistance for the project (other than the assistance hereunder): Program: Greater Minnesota Business Development Public Infrastructure Grant Program (BDPI) Grantor: Minnesota Department of Employment and Economic Development Value: $176,624 (6) The Developer certifies that it does not appear on the Minnesota Department of Employment and Economic Development's list of recipients that have failed to meet the terms of a business subsidy agreement, and failed or refused to cure such failure. (7) The Developer must continue operations operation of the Project as a Qualified Facility or with a Permitted Use for at least five (5) years after the Benefit Date. During any period when the Project is vacant and not operated for the aforementioned qualified uses, the Project will not constitute a Qualified Facility. (5) There 8) Xxxxxx Xxxxx LLC, 00000 Xxxxx Xxxx Xx., Xxxxxxxxxx Xxxxx, XX 00000, is no the parent corporation company of the Company.Bosch Automotive Service Solutions Inc.

Business Subsidies Act. (1) In order to satisfy the provisions of Minnesota Statutes, Sections 116J.993 to 116J.995 (the “Business Subsidies Act”), the Company Developer acknowledges and agrees that the amount of the “Business Subsidy” granted to the Company Developer under this Lease Agreement is the amount of the BondsLoan, and General Obligation Bonds and that the Business Subsidy is needed because the Project is not sufficiently feasible for the Company Developer to undertake without the Business Subsidy. The public purpose of the Business Subsidy is to develop new jobs within the City and the County and to develop an ethanol production facility in the CountyCity. The Company Developer agrees that it will meet the following goals (the “Goals”): It will create at least 25 10 new full-time equivalent jobs in connection with positions at the development of the Plant Project at a wage of at least $8.30 12.00 per hour within fourteen months of the Benefit Date and at least 20 additional new full-time equivalent positions at the Project at an average wage of at least $12.00 per hour within two years from of the “Benefit Date for a total of 30 full-time equivalent jobs within two years of the Benefit Date”. The City agrees that jobs created on or after May 1, which is 2005 may be included in the earlier total number of jobs required to be created pursuant to this Section 3.6(1). The Developer certifies that as of the date hereof the Project is completed or placed Developer has created 30 full-time equivalent jobs at an average wage of at least $12.00 per hour in servicesatisfaction of this Section 3.6(1). (2) If the Goals are not met, the Company Developer agrees to repay all or a part of the Business Subsidy to the CountyCity, plus interest (“Interest”) set at the implicit price deflator defined in Minnesota Statutes, Section 275.70, Subdivision 2, accruing from and after the Benefit Date, compounded semiannually. If the Goals are met in part, the Company Developer will repay a portion of the Business Subsidy (plus Interest) determined by multiplying the Business Subsidy by a fraction, the numerator of which is the number of jobs in the Goals which were not created at the wage level set forth above and the denominator of which is 25 30 (i.e. number of jobs set forth in the GoalsGoals in (1) above). (3) The Company Developer agrees to (i) report its progress on achieving the Goals to the County City until the later of the date the Goals are met or two years from the Benefit Date, or, if the Goals are not met, until the date the Business Subsidy is repaid, (ii) include in the report the information required in Minnesota Statutes, Section 116A.994116J.994, Subdivision 7 on forms developed by the Minnesota Department of Employment and Economic DevelopmentDEED, and (iii) send completed reports to the CountyCity. The Company Developer agrees to file these reports no later than December March 1 of each year commencing December March 1, 20082006, and within 30 days after the deadline for meeting the Goals. The County City agrees that if it does not receive the reports, it will mail the Company Developer a warning within one week of the required filing date. If within 14 days of the post marked date of the warning the reports are not made, the Company Developer agrees to pay to the County City a penalty of $100 for each subsequent day until the report is filed up to a maximum of $1,000, provided that the delay is due to causes within the control of the Company. (4) The Company Developer agrees to continue operations of the Project for at least five (5) years after the Benefit Date. (5) The Developer will receive financial assistance for the Project from the City pursuant to this Agreement and certain tax exemptions and job credits pursuant to the Job Opportunity Building Zone Law (Minnesota Statutes, Sections 469.310 through 469.320) pursuant to the JOBZ Agreement. (6) There is no parent corporation of the CompanyDeveloper.

Business Subsidies Act. (1) In order to satisfy the provisions of Minnesota Statutes, Sections 116J.993 to 116J.995 (the “"Business Subsidies Act”"), the Company Developer acknowledges and agrees that the amount of the “"Business Subsidy” " granted to the Company Developer under this Lease Agreement $3,300,000 which is the amount Reimbursement Amount for acquisition of the Bonds, Development Property and General Obligation Bonds installation of the Site Improvements as set forth in Section 3.1(1) and that the Business Subsidy is needed because the Project is not sufficiently feasible for the Company Developer to undertake without the Business Subsidy. The Tax Increment District is a redevelopment district and the public purpose of the Business Subsidy is to develop new jobs within encourage the County and to develop an ethanol production construction of a mixed-use facility in the County. The Company agrees that it will meet the following goals City by December 31, 2020 (the “"Goals”): It will create at least 25 full-time equivalent "). After holding a public hearing February 21, 2019, the City has determined that creation and retention of jobs in connection with the development is not a goal of the Plant at a wage subsidy for the restaurant portion of at least $8.30 per hour within two years from the “Benefit Date”, which is the earlier of date the Project is completed or placed in serviceand consequently has set the wage and job goals hereunder at zero. (2) If the Goals are not met, the Company Developer agrees to repay all or a part of the Business Subsidy to the CountyCity, plus interest (“"Interest”") set at the implicit price deflator defined in Minnesota Statutes, Section 275.70, Subdivision 2, accruing from and after the Benefit Datedate the Goals are not met, compounded semiannually. If the Goals are met in part, the Company will repay a portion of the Business Subsidy (plus Interest) determined by multiplying the Business Subsidy by a fraction, the numerator of which is the number of jobs in the Goals which were not created at the wage level set forth above and the denominator of which is 25 (i.e. number of jobs set forth in the Goals). (3) The Company Developer agrees to (i) report its progress on achieving the Goals to the County City until the later of the date the Goals are met or two years from the Benefit Date, or, if the Goals are not met, until the date the Business Subsidy is repaid, (ii) include in the report the information required in Minnesota Statutes, Section 116A.994116J.994, Subdivision 7 on forms developed by the Minnesota Department of Employment and Economic Development, and (iii) send completed reports to the CountyCity. The Company Developer agrees to file these reports no later than December March 1 of each year commencing December March 1, 20082021, and within 30 days after the deadline for meeting the Goals. The County City agrees that if it does not receive the reports, it will mail the Company Developer a warning within one week of the required filing date. If within 14 days of the post marked date of the warning the reports are not made, the Company Developer agrees to pay to the County City a penalty of $100 for each subsequent day until the report is filed up to a maximum of $1,000, provided that the delay is due to causes within the control of the Company. (4) The Company Developer agrees to continue operations of within the Project City for at least five (5) years after the Benefit Date. (5) There are no other state or local government agencies providing financial assistance for the Project other than the City. (6) There is no parent corporation of the CompanyDeveloper. (7) The Developer certifies that it does not appear on the Minnesota Department of Employment and Economic Development's list of recipients that have failed to meet the terms of a business subsidy agreement.