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• If the job goals are not met by the compliance date, every <br /> • subsequent anniversary thereof until the subsidy is repaid, <br /> as may be required hereunder. <br /> Each March 1 report shall reflect the prior calendar year, and each <br /> subsequent report shall reflect the period since the last reporting <br /> period. <br /> (k) If the Company fails to meet the job goals by the compliance date, the <br /> EDA, upon receiving written request by the Company indicating the <br /> reasons why the job goals have not been met and the Company's <br /> reasonable assurance that the goals will be met, may, in its absolute <br /> discretion, grant a one year extension of the compliance date. <br /> (1) In the event that any provision of this Agreement is inconsistent or in <br /> conflict with any provision of the Subsidy Law, and in the event that <br /> any provision of the Subsidy Law provides additional requirements, <br /> the provisions of the Subsidy Law shall apply and govern. <br /> In witness whereof, the EDA and the Company have dully executed this <br /> agreement by their duly authorized representatives. <br /> Economic Development Authority Display Solutions, Inc. <br /> • of the City of Elk River (Company) <br /> if 00 <br /> By '.,�,���= •,4 ' By l'A*1 <br /> It;. Pr i en► Its P,zi <br /> ► � / <br /> By � , %- /%� By61vi Yee`?e'/K <br /> Its Executive Director Its <br /> j-2 ; <br /> By <br /> Its �yc77`�e2, <br /> S 3 <br /> S:\Eda\MicroLoan\LOANS\Display Solutions\SUBSIDY AGREEMENT.doc <br />