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• request in writing, and the Grantor may agree, in its absolute <br /> discretion, that the subsidy be repaid by the Recipient on a pro rata <br /> basis. The Recipient represents that the subsidy is needed in order to <br /> induce the Recipient to complete the project in the City of Elk River. <br /> The Recipient covenants that it will continue its operations in the <br /> Grantor's jurisdiction for at least five years after the benefit date. <br /> (e) The Recipient represents that it is a subsidiary of the following parent <br /> corporation: <br /> Company Name: <br /> Address: <br /> (f) The Recipient represents that it has accepted subsidies from the <br /> following public entities: <br /> • Elk River EDA- Land sale write down & subdivision and <br /> utility extension expenses incurred by the Grantor for <br /> the project. <br /> (g) The Recipient represents that it is not in default on the date hereof on <br /> any subsidy agreement entered into by the Recipient under the <br /> Subsidy Law. <br /> • (h)The Recipient represents that it is not able to complete this project in <br /> its current location, which is Brooklyn Park <br /> because current site is being acquired for redevelopment. <br /> (i) The Recipient represents that it currently has in the State of <br /> Minnesota 5 full-time equivalent permanent employees and, for <br /> its "job goals" hereunder, will create due to the project an additional <br /> 4_5 full time equivalent permanent employee positions within two <br /> years of the benefit date, with these jobs having wage levels of at least <br /> $ 15.00 per hour, exclusive of benefits. The Recipient estimates that <br /> the actual average wage for the jobs it creates will be at least $15.00 <br /> per hour, exclusive of benefits. <br /> The Recipient represents as an additional goal, the construction of a <br /> minimum of 15,200 square feet of light industrial space, in <br /> which at least 5,000 square feet will be leasible, to be <br /> completed within one year of the benefit date. <br /> (j) The Recipient shall complete and file with the Grantor an annual <br /> report in a form supplied by its Executive Director. The Subsidy Law <br /> • requires that if the Recipient does not file such reports, when due, the <br /> Grantor must mail the Recipient a warning within one week of the <br /> 2 <br />