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Sent by: DRB MINNEAPOLIS 6123405584; 05/07/98 13:03; Jet #801 ;Page 31 /39 <br /> • JOB PERFORMANCE AGREEMENT <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 coIIectively referred to as the <br /> "Developer"), having its principal office at 809 Jackson Ave. N.W., Elk River, Minnesota 55330. <br /> WITNESSETH: <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 /> 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 /> WHEREAS,Minnesota Sta rtes Section 1161991, provides that a government agency cy 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 /> 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 /> WHEREAS, the Authority, and the Developer desire that this Agreement serve as the <br /> agreement referenced in the Contract. <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 /> ARTICLE T <br /> Definitions <br /> Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears from <br /> • the context: <br /> "Act" means Minnesota Statutes, Section 1167.991. <br /> BeckP 548664.2 C-2 <br />