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(i) For Phase 1, 7 new qualifying jobs meeting the wage level commitment in <br />Section 5 of this Agreement shall be provided by the phase commencement <br />date 14/01/17. For each of the three successive annual periods that those jobs <br />are maintained at the required wage level, COMPANY shall receive 1/3 of <br />the Grant amount for those 7 jobs. <br />(ii) For Phase II,1 new qualifying job meeting the wage level commitment in <br />Section 5 of this agreement shall be provided by the phase commencement <br />date 1/01/18. For each of the three successive annual periods that that job is <br />maintained at the required wage level, COMPANY shall receive 1/3 of the <br />Grant amount for that 1 job. <br />(iii) For Phase 111, 7 new qualifying jobs meeting the wage level commitment <br />in Section 5 of this agreement shall be provided by the phase commencement <br />date 4/01 /18. For each of the three successive annual periods that those jobs <br />are maintained at the required wage level, COMPANY shall receive 1/3 of <br />the Grant amount for those 7 jobs. <br />(iv) It is understood that the quantity of jobs proposed above, their annual <br />wages, and dates of hire are estimates. Because of that, the quantity of jobs <br />provided may be less than 15, and the Commencement Date (for Grant <br />tracking) may be extended. Proposed jobs will remain eligible for Grant <br />incentives provided: <br />a. The minimum number of qualifying jobs provided in Phase I is 5. <br />b. The maximum number of jobs eligible for local jobs grant funds <br />for Phases 1, Il, and III is 15. <br />c. The maximum extension for aphase commencement date shall be <br />one year. Such commencement date extension may be approved <br />administratively by the County Community Development <br />Director or his designee provided the extension date meets the <br />requirements of Section 3 of this agreement. If any of the 15 <br />eligible jobs proposed for Phases 1, II, and III are created afterthe <br />Phase III commencement date or, if applicable, after an <br />administratively approved extension to the Phase III <br />commencement date, those jabs shall not be eligible for local jabs <br />grant funds. <br />In no case shall the total Grant exceed $49,000. <br />(iii) Failure of COMPANY to maintain claimed jobs for at least 3 years at <br />required wage levels will result in the reduction of the Grant amount paid to <br />COMPANY, as set forth herein. If, by the end of any of the annual periods, <br />COMPANY has not maintained the total number of claimed jobs required or <br />if COMPANY has provided the total jobs required, but the annual wage for <br />any of those jobs is less than required for that year, the Community <br />-4- <br />ML <br />