7.0. EDSR 04-11-2005 - Laserfiche WebLink

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• (e) The Company represents that it is a subsidiary of the following parent corporation: Company Name: Not Applicable Address: (f) The Company represents that it has accepted subsidies from the additional following public entities: • Not Applicable • (g) The Company represents that it is not in default on the date hereof on any subsidy agreement entered into by the Company under the Subsidy Law. (h)The Company represents that it is not able to complete this project in its current location, which is Not Appicable because (i) The Company represents that it currently has in the State of Minnesota 3 full-time equivalent permanent employees and, for its "job goals"hereunder, will create due to the project an additional 7 full time equivalent permanent employee positions within two years of the benefit date, with these jobs having wage levels of at least $12.00 per hour, exclusive of benefits, as required by City of Elk River Micro Loan Policy. (j) The Company shall complete and file with the EDA an annual report in a form supplied by its Executive Director. If the Company does not file such reports, when due, the EDA must mail the Company a warning within one week of the filing date, and if, after 14 days after the postmark data of that warning, the Company continues to fail to report, then the Company is required to and shall pay the EDA a penalty of$100 for each subsequent day until the report is filed, up to a maximum of$1,000.00. The Company shall file these reports with the EDA, in care of its Executive Director at the following times: • On March 1 of each year, beginning with the March 1 immediately following the benefit date. • Within 30 days of the "Compliance Date," hereby defined to be the date that is two years after the benefit date. • 2 S:\Eda\MicroLoan\LOANS\Display Solutions\SUBSIDY AGREEMENT.doc