Small Business Technology & Training Grant

To: City of Staunton, Department of Economic Development

Re: Enterprise Zone — 2-Year Operation Commitment

I, the undersigned authorized representative of the business identified below, hereby commit that the business will maintain active operations at its current location within the Staunton Enterprise Zone for a minimum period of two (2) consecutive years from the date of approval of the Small Business Technology & Training Grant application.

I understand and acknowledge that:

1. This commitment is required as a condition of receiving the Small Business Technology & Training Grant.
2. If the business ceases operations, relocates outside the Enterprise Zone, or otherwise fails to maintain qualifying operations within the two-year period, the City of Staunton reserves the right to recapture any grant funds received, in full or in part, on a prorated basis.
3. “Active operations” means the business is open and conducting its primary business activities at the Enterprise Zone location, holding a valid City of Staunton business license, and remaining current on all City taxes and fees.
4. The business will notify the Department of Economic Development in writing within 30 days of any planned change in ownership, relocation, or cessation of operations.
5. Technology and/or training investments funded by this grant must be implemented and actively used at the Enterprise Zone location during the commitment period.

The undersigned has authority to bind the business named below to the terms of this commitment.