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Last modified
1/7/2016 2:10:02 PM
Creation date
10/1/2015 4:51:44 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/18/2012
Control Number
2012-229
Agenda Item Number
13.A.
Entity Name
Piper Aircraft Inc.
Subject
Amendment No.1 Closing Fund Agreement
Supplemental fields
SmeadsoftID
11642
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(h) In no year shall the amount required to be repaid . exceed $ 500,000 , plus <br /> interest. For example, if the Closing Fund Awardee fails to meet the tests both in Paragraphs <br /> 10. 0(d) and (e) for calendar year 2012, the sanction would be $ 500, 000, not $ 1 million. <br /> (i) The Closing Fund Awardee shall have 60 days to cure any alleged breach <br /> of this Agreement; provided, however, that nothing herein shall extend any date required to meet <br /> a Performance Condition as set forth in Paragraph 5 . 0(b) . Any required repayment, interest <br /> and/or penalty, is due to County within sixty (60) days of receipt of written notice from County, <br /> after which additional interest at the rate determined in Paragraph 10. 0(g) of this Agreement, <br /> shall begin to accrue on the repayment amount due, including any interest on that amount, as <br /> determined in Paragraphs 10. 0(d), (e) , or (g) . However, such repayment and interest shall not be <br /> due, nor any additional interest accrue on the repayment and interest due, until any appeal of <br /> County' s decision shall have been completed in accordance with Section 16 . 0 hereof. <br /> (j ) County, or its designated agent, may, with reasonable notice of no earlier <br /> than 10 business days, conduct on-site visits to the Indian River County facilities to verify the <br /> Closing Fund Awardee ' s capital investment and product development, employment, and wage <br /> records . <br /> 6. This Amendment is not intended to increase the maximum amount that may <br /> be paid to the Closing Fund Awardee under the original Indian River Agreement. <br /> 7. The Parties reaffirm all portions of the Indian River Agreement not in <br /> conflict with this Amendment. Performance in accordance with this Amendment will be <br /> considered performance of the Indian River Agreement. In the case of any conflict between <br /> the Agreement and the Indian River Amendment, the Amendment shall control. <br /> DUPLICATE ORIGINALS : This Amendment is executed in duplicate originals . <br /> 8 <br />
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