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A TRUE COPY
<br /> CERTIFICATION ON LAST PAGE
<br /> J.K.BARTON,CLERK
<br /> ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION AGREEMENT
<br /> FOR INEOS NEW PLANET BIOENERGY LLC FACILITY AT -
<br /> 925 74TE AVENUE SW,VERO BEACH,FLORIDA
<br /> THIS AGREEMENT is entered into as of the 20`b day of December, 2011, by and between
<br /> Indian River County, a political subdivision of the State of Florida("County's and INEOS New Planet
<br /> BioEnergy, LLC, a limited liability company, organized and existing under the laws of the State of
<br /> Delaware("Business').
<br /> WHEREAS, County has adopted the Indian River County Economic Development Ad
<br /> Valorem Tax Exemption Ordinance ("Ordinance'.), set forth in Title XI of the Indian River County
<br /> Code("Code',and
<br /> WHEREAS, County has adopted Ordinance No. 2011 -oin ("Exemption Ordinance")
<br /> granting an economic development ad valorem tax exemption("Exemption')to Business,and
<br /> WIMMAS, the Ordinance and the Exemption Ordinance both provide that the Exemption
<br /> shall not be effective until County and Bus-.inws enter into this Economic Development Ad Valorem
<br /> Tax Exemption Agreement("Agreement"),
<br /> NOW, THEREFORE, in consideration of the mutual undertakings herein and other good and
<br /> valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
<br /> hereby agree,as follows:
<br /> 1. Recitals. The above recitals are true and correct and are incorporated herein,
<br /> 2. Definition. Unless otherwise stated, all capitalized terms herein shall have the
<br /> meaning set forth in the Ordinance.
<br /> 3. Business'Representations, Covenants and Warranties. At all tines during the team
<br /> of the Exemption, Business represents, covenants and warrants to County that: (a) all information
<br /> submitted by Business in the Application is,and was at the time of submittal,true and correct,(b) all
<br /> information submitted by Business in any annual report submitted pursuant to section I100.10(b) of
<br /> the Code will be,at the time of submittal;true and correct,(c) each representation previously made by
<br /> Business to County's Board of County Commissioners in a public meeting was, and each
<br /> representation made by Business to County's Board of County Commissioners in the firture will be,at
<br /> the time of such representation, true and correct, (d) 'Business will fully perform and remain in full
<br /> compliance with all Exemption Requirements and all requirements of this Agreement, (e) without
<br /> limitation,Business will establish and continue to provide all jobs required for Business to qualify as a
<br /> New Business, as defined in the Ordinance ("Jobs'), (f) without limitation,the average wage paid by
<br /> Business with respect to the Jobs during each calendar quarter will be equal to or greater than the
<br /> average wage represented by Business in the Application, and(g)Business has not committed and will
<br /> not commit any Violation of Law(each of subparagraphs(a)through(f),"Cornmitmeat'�.
<br /> 4. Annual Reports. On or before January 15u'of each year,beginning in 2013 and ending
<br /> in 2022,the applicant shall submit a status report to the County Community Development Department.
<br /> At a minimum,the report sball include the name,address,and contact information of the current owner
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