Section 870-RICR-30-00-2.9 - Incentive AgreementA. Upon approval of an award to an Applicant and in order to safeguard the expenditure of public funds and ensure that the disbursement of funds furthers the objectives of the Act, the Corporation and the Applicant will enter into an Incentive Agreement, which shall include, among others, the following terms: 1. The maximum amount of incentives awarded;2. A provision that the incentives shall cease upon any termination or cessation of the Qualifying Tax Stabilization Agreement or upon exhaustion of funds appropriated for the program;3. If applicable, a provision requiring that the receipt of the incentives for any given year be subject to the Qualified Development Project meeting any job creation requirements or any other conditions that the Corporation, in its sole discretion, shall set as a condition of its approval of an award to the Applicant;4. Default and remedies including events, if any, that would trigger forfeiture, revocation, termination, and/or repayment of the awarded incentives;5. Indemnification, insurance and other customary protective requirements;6. Reporting requirements including, but not limited to, any requirements under the Act;7. A certification procedure to insure that the Qualified Development Project meets the relevant eligibility criteria and any other criteria imposed by the Corporation in approving an award of incentives; and8. Any other provisions that the Corporation determines are appropriate.870 R.I. Code R. 870-RICR-30-00-2.9