Common use of OBLIGATIONS OF APPLICANT Clause in Contracts

OBLIGATIONS OF APPLICANT. During the term of this Agreement, Applicant shall comply with the following terms and conditions: A. Applicant agrees to develop, construct, and operate, at its sole cost, the Development. Applicant shall commence construction and or improvements of the Development within twelve (12) months of the Effective Date of this Agreement. Applicant shall receive a certificate of occupancy, and be open for business to the general public within twelve (12) months from the commencement of construction and/or improvements to the Development. Applicant agrees that it shall make Qualified Expenditures of not less than Ten Million Three Hundred Eighty Thousand Dollars ($10,380,000) in the Development. The County shall be permitted to review Applicant’s receipts of Qualified Expenditures to evidence the expenditure of a minimum amount of Ten Million Three Hundred Eighty Thousand Dollars ($10,380,000). B. Applicant agrees that it shall create, staff, and maintain the Full-Time Employment positions described in Exhibit “B” for the Development as soon as reasonably possible from the Effective Date of this Agreement, and shall maintain the Full-Time Employment positions for the Development through the entire Grant Period of this Agreement. Applicant shall maintain the Full-Time Employment positions for each quarter of each fiscal year with the total per day hours worked averaged over each fiscal quarter. Applicant shall provide the County with an annual report by April 30th of each year during the term of this Agreement, certifying the status of compliance through the preceding year. Such annual report shall include the number of new jobs created and retained for the Development, information on any new investments in the Development, and any other information relevant to the Development and the County’s economic development goals. Documentation for jobs may be in the form of quarterly IRS 941 returns, Texas Workforce Commission Employer Quarterly Reports, or employee rosters that show the hours worked and the positions filled. Applicant shall also provide the County with such other reports as may reasonably be required. Applicant, during normal business hours, at its principal place of business in El Paso, shall allow the County or its agents reasonable access to Applicant’s employment records and books, and other records that are related to the economic development considerations and incentives described herein, to verify employment records and any other records related to the County’s economic development considerations and incentives provided herein. The confidentiality of such records will be maintained in accordance with and subject to all applicable laws.

OBLIGATIONS OF APPLICANT. During the term of this Agreement, Applicant shall comply with the following terms and conditions: A. Applicant agrees to develop, constructthat it, and operateits Affiliate companies, at its sole cost, the Development. Applicant shall commence construction and or improvements of the Development within twelve (12) months of the Effective Date of this Agreement. Applicant shall receive a certificate of occupancy, and be open for business to the general public within twelve (12) months from the commencement of construction and/or improvements to the Development. Applicant agrees that it shall make Qualified Expenditures of not less than Ten Million Three Hundred Eighty Thousand Dollars ($10,380,000) in the Development. The County shall be permitted to review Applicant’s receipts of Qualified Expenditures to evidence the expenditure of a minimum amount of Ten Million Three Hundred Eighty Thousand Dollars ($10,380,000). B. Applicant agrees that it shall create, staff, staff and maintain the Full-Time Employment positions described in Exhibit “BA” for the Development as soon as reasonably possible from of December 31 of the Effective Date of this Agreementapplicable year, and shall maintain the Full-Time Employment positions for the Development through the entire Grant Period of this Agreement. Applicant and its Affiliate shall maintain the Full-Full- Time Employment positions for each quarter of each fiscal year with the total per day hours worked averaged over each fiscal quarter. Applicant shall provide the County City with an annual report by April 30th December 31st of each year during the term of this Agreement, certifying the status of compliance through the preceding year. Such annual report shall include the number of new jobs created and retained for the Development, information on any new investments in the Development, and any other information relevant to the Development and the CountyCity’s economic development goals. Documentation for jobs may be in the form of quarterly IRS 941 returns, Texas Workforce Commission Employer Quarterly Reports, or employee rosters that show the hours worked and the positions filled. Applicant shall also provide the County City with such other reports as may reasonably be required. Applicant, during normal business hours, at its principal place of business in El Paso, shall allow the County City or its agents reasonable access to Applicant’s employment records and books, and other records that are related to the economic development considerations and incentives described herein, to verify employment records and any other records related to the CountyCity’s economic development considerations and incentives provided herein. The In order to protect these records, the City shall maintain the confidentiality of such records will be maintained in accordance with and subject to commercially reasonable practices and all applicable lawslaws to the extent allowed by the Texas Open Records Act. B. Unless otherwise agreed by the City and Applicant, each Grant Submittal Package shall be in the form provided in Exhibit “B”. If Applicant fails to timely submit a Grant Submittal Package for a particular year, the City may, give Applicant written notice of its failure to timely submit such Grant Submittal Package, and Applicant shall have thirty (30) calendar days from the date on which such written notice is given in which to submit such Grant Submittal Package. A failure by Applicant to timely submit a Grant Submittal Package in accordance with this paragraph is a waiver by the Applicant to receive a Grant payment for that Grant Year. The City’s determination of the amount of the Grant payment due to Applicant is final; provided, however, that the Applicant may appeal to the City Council within thirty (30) days of payment. The City Council shall hear the appeal within thirty

OBLIGATIONS OF APPLICANT. During the term of this Agreement, Applicant shall comply with the following terms and conditions: A. Applicant agrees to develop, construct, and operate, that it will operate the Development at its sole cost, the Development. Applicant shall commence construction and or improvements of the Development within twelve six (126) months of the Effective Date of this Agreement. Applicant shall receive a certificate of occupancy, and be open for business to the general public within twelve (12) months from the commencement of construction and/or improvements to the Development. Applicant agrees that it shall make Qualified Expenditures of not less than Ten Million Three Hundred Eighty Seventy Five Thousand Dollars ($10,380,00075,000.00) in the Development. The County City shall be permitted to review Applicant’s receipts of Qualified Expenditures to evidence the expenditure minimum investment of a minimum amount of Ten Million Three Hundred Eighty Seventy Five Thousand Dollars ($10,380,000)Dollars. B. Applicant agrees that it shall create, staff, and maintain the Full-Time Employment positions described in Exhibit “B” EXHIBIT B for the Development as soon as reasonably possible from of December 31 of the Effective Date of this Agreementapplicable year, and shall maintain the Full-Time Employment positions for the Development through the entire Grant Period of this Agreement. Applicant will work with Workforce Solutions Borderplex to source their employment positions. Applicant shall maintain the Full-Time Employment positions for each quarter of each fiscal year with the total per day hours worked averaged over each fiscal quarter. Applicant agrees to register and list all posting on the XxxxxxXxxxx.xxx website and utilize any of the service programs provided at no charge by Workforce Solutions Borderplex, which include applicant screening, subsidized on-the-job training, marketing, assessments/testing, and the use of conference rooms and interview rooms. Applicant will participate in job/hiring fairs, State and Federal training funding, and work opportunity tax credits. Applicant shall provide the County City with an annual report by April 30th December 31st of each year during the term of this Agreement, certifying the status of compliance through the preceding year. Such annual report shall include the number of new jobs created and retained for the Development, information on any new investments in the Development, and any other information relevant to the Development and the CountyCity’s economic development goals. Documentation for jobs may be in the form of quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports, or employee rosters that show the hours worked and the positions filled. Applicant shall also provide the County City with such other reports as may reasonably be required. Applicant, during normal business hours, at its principal place of business in El Paso, and with two weeks written notice, shall allow the County City, or its agents agents, reasonable access to Applicant’s employment records and books, and other records that are related to Applicant’s compliance with this Agreement. In order to protect these records, the economic development considerations and incentives described herein, to verify employment records and any other records related to City shall maintain the County’s economic development considerations and incentives provided herein. The confidentiality of such records will be maintained in accordance with and subject to commercially reasonable practices and all applicable lawslaws to the extent allowed by the Texas Open Records Act. C. Unless otherwise agreed by the City and Applicant in writing, Applicant shall annually submit one Grant Submittal Package, which shall be in the form provided in EXHIBIT C, together with the requisite documentation. Applicant shall submit to the City the initial Grant Submittal Package to commence the Grant Period on July 31, 2020 or within thirty (30) business days after July 31 of each year. A failure by Applicant to timely submit a Grant Submittal Package in accordance with this paragraph is a waiver by the Applicant to receive a Grant payment for that Grant Year. The City’s determination of the amount of the Grant payment due to Applicant is final; provided, however, that the Applicant may appeal to the City Council within thirty (30) days of payment. The City Council shall hear the appeal within thirty (30) days of request for appeal and the City Council’s determination of the amount of the Grant payment shall be final. Nothing herein shall limit (or be construed to limit) Applicant’s rights and remedies as described in Section 5 of this Agreement. D. Applicant shall pay by January 31 of each year all of the real and business personal ad valorem taxes due for the previous tax year on the Development. The Applicant shall pay by January 31 of each year all of the real and business personal ad valorem taxes due for the previous tax year on any other property owned by the Applicant with the City of El Paso.

OBLIGATIONS OF APPLICANT. During the term of this Agreement, Applicant shall comply with the following terms and conditions: A. Applicant agrees to develop, construct, and operate, at its sole cost, the Development. Applicant shall commence construction and or improvements of the Development within twelve eighteen (1218) months of the Effective Date of this Agreement. Applicant shall receive a certificate begin operations within four (4) years from receipt of occupancy, and be open the Certificate of Occupancy for business to the general public within twelve (12) months from the commencement of construction and/or improvements to the Development. Applicant agrees that it shall make Qualified Expenditures of not less than Ten Fifty Three Million Three Hundred Eighty Thousand Dollars ($10,380,00053,000,000) in the Development. The County County, by and through the City Economic Development Department, shall be permitted to review Applicant’s receipts of Qualified Expenditures to evidence the expenditure of a minimum amount of Ten Fifty Three Million Three Hundred Eighty Thousand Dollars ($10,380,00053,000,000). B. Applicant agrees that it shall create, staff, and maintain the Full-Time Employment positions described in Exhibit “B” for the Development as soon as reasonably possible from the Effective Date of this Agreement, and shall maintain the Full-Time Employment positions for the Development through the entire Grant Period of this Agreement. Applicant shall maintain the Full-Time Employment positions for each quarter of each fiscal year with the total per day hours worked averaged over each fiscal quarter. Applicant shall provide the County County, by and through the City Economic Development Department, with an annual report by April 30th of each year during the term of this Agreement, certifying the status of compliance through the preceding year. Such annual report shall include the number of new jobs created and retained for the Development, information on any new investments in the Development, and any other information relevant to the Development and the County’s economic development goals. Documentation for jobs may be in the form of quarterly IRS 941 returns, Texas Workforce Commission Employer Quarterly Reports, or employee rosters that show the hours worked and the positions filled. Applicant shall also provide the County County, by and through the City’s Economic Development Department, with such other reports as may reasonably be required. At Applicant’s election, the County or its agent will inspect at Applicant’s principal place of business in El Paso, the requisite documentation to certify Applicant’s compliance with the job creation and retention requirements, rather than requiring submission of such documentation to the County. If Applicant elects to proceed with physical inspection of its employment records on site, such inspection will be conducted under the same terms and conditions as the County’s, or its agent’s, inspection of business records for verification purposes under this Agreement. Applicant, during normal business hours, at its principal place of business in El Paso, shall allow the County or its agents reasonable access to Applicant’s employment records and books, and other records that are related to the economic development considerations and incentives described herein, to verify employment records and any other records related to the County’s economic development considerations and incentives provided herein. The confidentiality of such records will be maintained in accordance with and subject to all applicable lawslaws and in accordance with Section 6 (G) of this Agreement. C. Unless otherwise agreed by the County and Applicant, each Grant Submittal Package shall be in the form provided in Exhibit “C”. If Applicant fails to timely submit a Grant Submittal Package for a particular year, the County, by and through the City’s Economic Development Department may give Applicant written notice of its failure to timely submit such Grant Submittal Package, and Applicant shall have thirty (30) calendar days from the date on which such written notice is given in which to submit such Grant Submittal Package. The County’s determination of the amount of the Grant payment due to Applicant is final; provided, however, that the Applicant may appeal to the El Paso County Commissioners Court within thirty (30) days of payment. The Commissioners Court shall hear the appeal within thirty (30) days of request for appeal and the Commissioners Court’s determination of the amount of the Grant payment shall be final. Nothing herein shall limit (or be construed to limit) Applicant’s rights and remedies as described in Section 5 of this Agreement. D. Applicant shall pay by January 31 of each year all of the real and business personal ad valorem taxes due for the previous tax year on the Development and any other property within the County of El Paso. The parties to this Agreement agree that the County’s valuation of taxable value of the Development, after completion of all construction and improvements, will have a minimum base value of Fifty Three Million Dollars ($53,000,000). Applicant shall have the right to contest the appraised value of the Development as provided by law. However, Applicant covenants and agrees that during the term of this Agreement it shall not challenge or permit anyone else to take actions on its behalf to challenge any assessments of the County’s valuation by the Central Appraisal District at $53,000,000 or lower. It is the intent of the parties that the assessed value of the Development on the County tax rolls shall have a minimum base value of $53,000,000 during the term of this Agreement and any affirmative act by Applicant to reduce the County’s assessed value to amount below $53,000,000 will be deemed an event of default that will result in termination of this Agreement. Notwithstanding the foregoing, Applicant’s use of any Freeport exemption shall not be an event of default under this Agreement. E. Applicant’s obligations under this Section 3 may be satisfied by an Affiliate provided Applicant first obtains the prior written consent of the County, which shall not be unreasonably withheld. As used herein, an “Affiliate” of Applicant shall mean any partnership, corporation, trust or other entity controlling, controlled by, or under common control with Applicant. F. It is understood that Applicant will be seeking additional financial assistance or incentives from other taxing entities, and in the event that Applicant fails to secure such other financial assistance or incentives within eighteen (18) months from the Effective Date of this Agreement and provided that no Grant payments have been issued to Applicant, this Agreement may be terminated by the Applicant and both parties will be mutually released from any and all obligations or liabilities. G. Applicant agrees that before jobs are announced to and filled by the general public, Applicant will commit to first utilizing the job posting/announcement opportunities of the RioGrande Workforce Development Board and its job placement programs in El Paso, Texas.