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c. Buyer agrees to (i) report Sportech's progress on achieving the Goals to <br />Seller until the later of the date the Goals are met or two years from the Benefit Date, or, <br />if the Goals are not met, until the date the Business Subsidy is repaid, (ii) include in the <br />report the information required in Minnesota Statutes, Section 116J.994, Subdivision 7 on <br />forms developed by the Minnesota Department of Employment and Economic <br />Development, and (iii) send completed reports to the City of Elk River. Buyer agrees to <br />file these reports no later than March 1 of each year commencing March 1, 2009, and <br />within 30 days after the deadline for meeting the Goals. Seller agrees that if it does not <br />receive the reports, it will mail Buyer a warning. If within 14 days of the postmarked <br />date of the warning the reports are not made, Buyer agrees to pay to Seller a penalty of <br />$100 for each subsequent day until the report is filed up to a maximum of $1,000. <br />d. Buyer agrees to continue operations within the City of Elk River for at <br />least five (5) years after the Benefit Date. <br />e. There are no other state or local government agencies providing financial <br />assistance for the project other than Seller. <br />f. There is no parent corporation of Buyer. <br />g. Buyer certifies that it does not appear on the Minnesota Department of <br />Employment and Economic Development's list of recipients that have failed to meet the <br />terms of a business subsidy agreement. <br />2150570v4 1 2 <br />