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10. <br /> <br />Developer agrees to meet the Job Creation and Wage Level Goals on or before <br /> · 19 Failure to meet the Goals by this date shall be a Default <br />under the terms of this Agreement. In addition to such other remedies as City and EDA <br />may have, if Developer defaults by not meeting the Job Creation and Wage Level Goals, <br />Developer shall immediately repay to City all mounts paid to Developer pursuant to this <br />Agreement. <br /> <br />11. <br /> <br />Developer shall report to EDA no later than <br />Agreement is in effect: <br /> <br />1 st of each year that this <br /> <br />Actual jobs created since fu'st payment received under this Agreement. <br /> <br />Actual average hourly wage paid to employees hired since first payment <br />received under this Agreement. <br /> <br /> IN WITNESS WHEREOF, the City of Elk River, the Economic Development Authority for the <br />City of Elk River and Developer have caused this Development Agreement to be executed as of the date <br />and year f~rst above written. <br /> <br />CITY OF ELK RIVER <br /> <br />By: <br /> <br />Henry Duitsman, Mayor <br /> <br />By: <br /> <br />Patrick D. Klaers <br />City Administrator <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY FOR <br />THE CITY OF ELK RIVER <br /> <br />By: <br /> <br />Jeffrey Gongoll, President <br />Elk River EDA <br /> <br />By: <br /> <br />Patrick D. Klaers, Acting Executive Director, <br />Elk River EDA <br /> <br />Pxa 100445 3 <br /> <br /> <br />