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<br />this paragraph shall be hereinafter referred to as IMPROVEMENTS. The <br />IMPROVEMENTS will be at a cost equal to or in excess of $4,500,000.00 for building <br />additions, $250,000.00 for improvements to the existing building, and $4,750,000.00 for <br />purchase and installation of machinery and equipment, for a total investment of <br />$9,500,000.00, and shall be substantially completed on or about August 1, 2006; <br />provided, that OWNER shall have such additional time to complete the <br />IMPROVEMENTS as may be required in the event of "force m~eure" if OWNER is <br />diligently and faithfully pursuing completion of the IMPROVEMENTS. For this <br />purpose, "force majeure" shall mean any contingency or cause beyond the reasonable <br />control of OWNER including, without limitation, acts of God, or the public enemy, any <br />natural disaster, war, riot, civil commotion, insurrection, govemmental or de facto <br />govemmental action, unless caused by acts or omissions of OWNER, fires, explosions, <br />accidents, floods, and labor disputes or strikes. The date of completion of the <br />. . IMPROVEMENTS shall be defined as the date a Certificate of Occupancy is issued by <br />the City of Paris, or as otherwise agreed in writing by the parties. <br /> <br />IV. <br />Consideration <br />Improvements <br /> <br />4.1 The OWNER agrees and covenants that it will diligently and faithfully, in <br />a good and workmanlike manner, pursue the completion of the IMPROVEMENTS. As a <br />good and valuable consideration of this AGREEMENT, OWNER further covenants and <br />agrees that all construction of the IMPROVEMENTS will be in accordance with all <br />applicable state and local laws, codes and regulations or will procure a valid waiver <br />thereof. In further consideration, OWNER shall thereafter, from the date a Certificate of <br />Occupancy is issued or the IMPROVEMENTS are completed as agreed, until the <br />expiration of this AGREEMENT, continuously operate and maintain the PROPERTY, <br />including the specific units of new equipment as identified herein, as a production and <br />manufacturing plant. <br /> <br />V. <br />Consideration <br />Jobs <br /> <br />5.1 The OWNER currently has in excess of 800 permanent full-time <br />employees at the existing site. The OWNER does not anticipate creating additional jobs <br />as a result of the addition of the IMPROVEMENTS described herein. <br /> <br />5.2 The OWNER will retain sufficient employment levels to efficiently <br />support its plant operations. <br /> <br />VI. <br />Default <br /> <br />3 <br />