Charitable Fee Sample Clauses

Charitable Fee. As consideration for the County agreeing to enter into this Agreement in advance of Project commencement by Intel, Intel will pay $100,000.00 annually for six (6) consecutive years, commencing on the execution date of this 2014 SIP Agreement and each July 1 thereafter. This obligation applies regardless of whether Intel receives a SIP property tax exemption under this 2014 SIP Agreement for any of those years. These funds shall be earmarked for public or private non-profit organizations fulfilling a public purpose in Washington County. The County Administrator shall select the eligible recipient(s) subject to Intel’s prior approval for consistency with Intel’s Code of Conduct and any other applicable policies.