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ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION <br />AGREEMENT <br />THIS AGREEMENT is entered into as of the 28th day of October, by and between Indian River <br />County, a political subdivision of the State of Florida ("County") and PCP Tactical, LLC, a limited <br />liability company, organized and existing under the laws of the State of Delaware ("Business"). <br />WHEREAS, County has adopted the Indian River County Economic Development Ad Valorem <br />Tax Exemption Ordinance ("Ordinance"), set forth in Title XI of the Indian River County Code ("Code"); <br />and <br />WHEREAS, County has adopted Ordinance No. 2020- 114 ("Exemption Ordinance") <br />granting an economic development ad valorem tax exemption ("Exemption") to Business; and <br />WHEREAS, the Ordinance and the Exemption Ordinance both provide that the Exemption shall <br />not be effective until County and Business enter into this Economic Development Ad Valorem Tax <br />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 hereby <br />agree, as follows: <br />1. Recitals. The above recitals are true and correct and are incorporated herein. <br />2. Definitions. Unless otherwise stated, all capitalized terms herein shall have the meaning <br />set forth in the Ordinance. <br />3. Business' Representations, Covenants and Warranties. At all times during the term of <br />the Exemption, Business represents, covenants and warrants to County that: (a) all information submitted <br />by Business in the Application is, and was at the time of submittal, true and correct, (b) all information <br />submitted by Business in any annual report submitted pursuant to section 1100.10(b) of the Code will be, <br />at the time of submittal, true and correct, (c) each representation previously made by Business to County's <br />Board of County Commissioners in a public meeting was, and each representation made by Business to <br />County's Board of County Commissioners in the future will be, at the time of such representation, true <br />and correct, (d) Business will fully perform and remain in full compliance with all Exemption <br />Z«ramf4emo«ULfbnxry-C'anmlrurtvmm.app!<.mailiData2ibmry/Afafl Downtoadm6F95EC6.4-5EPI-4891-9743-IF305I6B77FD;Bco De Ad Vat T=Ewwp-Agrmt PCP Tacd<alw— Page I of 5 <br />