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FIRST AMENDMENT TO BUSINESS ASSISTANCE AGREEMENT <br />FOR LINMARK, INC. IN THE CITY OF LOUISVILLE <br />THIS FIRST AMENDMENT TO BUSINESS ASSISTANCE AGREEMENT <br />FOR LINMARK, INC. IN THE CITY OF LOUISVILLE ("First Amendment") is made <br />and entered into as of the 1 St day of September , 2020, <br />between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation <br />(the "City"), and LINMARK, INC., DBA Coal Creek Ace Hardware (the "Company"), <br />a Colorado corporation. <br />WHEREAS, by Resolution No. 13, Series 2020, the City Council approved <br />a Business Assistance Agreement for Linmark, Inc. (the "Agreement") to provide <br />certain business assistance in connection with a new retail hardware store (the <br />"Project") at 1375 East South Boulder Road, Louisville, Colorado (the "Project <br />Location"); and <br />WHEREAS, the Company intends to create an approximately 13,000 <br />square foot retail space in a building that has been vacant since August 2018; and <br />WHEREAS, the Company plans for the Project to generate significant new <br />sales tax revenue to the City and also to create both new full-time and part-time <br />job opportunities; and <br />WHEREAS, the Company's planned lease signing and opening schedule <br />has been delayed by the COVID-19 pandemic and associated closures. The <br />Company now anticipates opening in early 2021 instead of no later than October <br />31, 2020; and <br />WHEREAS, the City Council finds the execution of this First Amendment to <br />extend the completion date and the period for sales tax rebates will serve to <br />provide benefit and advance the public interest and welfare of the City and its <br />citizens by securing this economic development project within the City. <br />NOW THEREFORE, in consideration of the mutual promises set forth <br />below, the City and Company agree as follows: <br />Section 1. Section 1 of the Agreement is hereby revised to read as follows <br />(words to be deleted ken; words to be added underlined): <br />1. Termination. This Agreement shall terminate and become <br />void and of no force or effect upon the City if, by QEtebeF 31, <br />282 , April 30, 2021, the Company has not completed the <br />Project as described in the Company's application for <br />business assistance (as evidenced by a successful final <br />inspection for the Project) and commenced retail sales to the <br />Page 1 of 2 <br />