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• ARTICLE II <br /> Job and Wage Goals <br /> Section 2.1. Employment Requirements. The Developer agrees that it will <br /> employ at least total persons in Permanent Full-Time Employment <br /> Positions in the Improvements, and that it will cause to be created by itself or its <br /> tenants with respect to the Development Property and the Improvements at least <br /> new, as opposed to relocated, Permanent Full-Time Employment Positions. <br /> Such new positions shall be created, through the actual employment of individuals, <br /> no later than two (2) years after the substantial completion of the Improvements <br /> pursuant to the terms of the Contract. <br /> Section 2.2. Wage Requirements. The new Permanent Full-Time <br /> Employment Positions required to be created pursuant to Section 2.1 shall be paid <br /> an average wage of no less than $ per hour. <br /> Section 2.3. Monitoring. The Developer agrees that it will provide, upon <br /> request by the Authority, documentation reasonably required by the Authority to <br /> document Developer's compliance with the provisions of this Agreement. <br /> • Section 2.4. Continuing Obligation. The Developer's obligations under this <br /> Agreement shall be continuing, and the Developer shall cause the employment and <br /> wage levels to be maintained for a period of at least one (1) year from the date that <br /> the Developer is first obligated to achieve the employment and wage levels. <br /> ARTICLE III <br /> Default <br /> Section 3.1. Defaults Defined. It shall be a default under this Agreement if <br /> the Developer fails to comply with any term or provision of this Agreement, and <br /> fails to cure such failure within sixty (60) days of written notice to the Developer of <br /> the default, but only if the default has not been cured within said sixty (60) days, or <br /> the Developer does not provide to the Authority assurances, satisfactory to the <br /> Authority in its reasonable discretion, that the default will be cured and will be <br /> cured as soon as reasonably possible. <br /> Section 3.2. Remedies in Default. Upon the occurrence of a default under <br /> this Agreement the Authority may declare immediately due and payable the entire <br /> amount of principal and interest paid by the Authority under the Note, as defined <br /> • in the Contract, together with interest on such amount at the rate of eight and one- <br /> half percent (8.5%) from the date that the Authority makes such declaration. <br /> B-4 <br /> BeckP 548540.1 <br />