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Closing Fund Awardee would be obligated to repay ten (10) percent of one -seventh of the <br /> Closing Fund Award payments received plus interest, as determined in Paragraph 10 .0(8) of <br /> this Agreement). <br /> (e) In any year the average wage falls below the average wage-required by <br /> Paragraph 5.0(f)(4) of this Agreement, the Closing Fund Awardee shall repay one -seventh of <br /> the Closing Fund payments received plus interest, as determined in Paragraph 10.0(8) of this <br /> Agreement, on the amount repaid. <br /> (f) If the Closing Fund Awardee's capital investments have not reached 80 <br /> percent of the investment level scheduled in Paragraphs 5.0(f) of this Agreement by the dates <br /> specified in Paragraph 5.0(f) of this Agreement, the Closing Fund Awardee shall repay a <br /> prorated share of the Closing Fund Award payments received, plus interest, as determined in <br /> Paragraph 10.0(g) of this Agreement, on the amount repaid. <br /> (g) The interest rate shall be determined by the annualized average interest <br /> rate earned by the County on funds invested by the County (schedule to be provided by the <br /> County) at the end of the performance period for which the condition was not met, which <br /> interest shall apply to the year for which the applicable shortfall occurred . Additional interest <br /> may be imposed for any period for which the required performance report is over due, or <br /> during which period the Closing Fund Awardee, after being notified by County in writing of <br /> any inadequacies in the performance report and/or the supporting documentation and being <br /> provided a 60 day period to cure any such inadequacies, has failed to correct the specified <br /> inadequacies. The annualized average interest rate earned on funds invested by the County as <br /> of January 2008 was 4.59 percent. <br /> {3745/01 /00234567.DOCv5 } <br /> 15 <br />