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JOB PERFORMANCE AGREEMENT <br /> <br /> THIS AGREEMENT, made on or as of the __ day of ,199__, by and <br />between the Economic Development Authority In and For the City of Elk River, a public body <br />corporate and politic (hereinafter referred to as the "Authority"), established pursuant to Minnesota <br />Statutes, Sections 469.090 to 469.108, and having its principal office at 13065 Orono Parkway, Elk <br />River, Minnesota 55330, and Morrell & Morrell, Inc., (hereinafter collectively referred to as the <br />"Developer"), having its principal office at 809 Jackson Ave. N.W., Elk River, Minnesota 55330. <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, the Developer and the Authority have entered into a Contract for Private <br />Redevelopment dated as of ., 199___, (the "Contract") pursuant to which the <br />Developer has agreed to construct an office/warehouse/trucking facility of at least 45,000 square feet <br />within the City of Elk River, Minnesota; and <br /> <br /> WHEREAS, in order to induce the Developer to undertake such development, the Authority <br />has agreed in the Contract to provide certain financial assistance to the Developer through its <br />payment of certain costs of site development and preparation of the property on which the <br />development will occur; and <br /> <br /> WFIEREAS, Minnesota Statutes, section 116J.991, provides that a government agency that <br />provides financial assistance for economic development job growth purposes must establish job and <br />wage goals to be met by the businesses receiving the assistance; and <br /> <br /> WHEREAS, the Authority and the Developer agreed in the Contract that they would enter <br />into a Job Performance Agreement to document their understandings as to the job and wage goals <br />to be met by the Developer with respect to its development; and <br /> <br /> WHEREAS, the Authority, and the Developer desire that this Agreement serve as the <br />agreement referenced in the Contract. <br /> <br /> NOW, THEREFORE, in consideration of the premises and the mutual obligations of the <br />parties hereto, each of them does hereby covenant and agree with the other as follows: <br /> <br />ARTICLE I <br /> <br />Definitions <br /> <br /> Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears from <br />the context: <br /> <br />"Act" means Minnesota Statutes, Sections 116J.991. <br /> <br />BeckP 548664.1 C-2 <br /> <br /> <br />