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Developer shall add a minimum of $2,000,000.00 in. Personal Property and endeavor to add at <br />least $3,000,000.00 in Personal Property between the Effective Date and the end of the Term. <br />The proposed schedule for the addition of the minimum addition of $2,000,000.00 in Personal <br />Property is attached hereto as Exhibit "D", which is made a part hereof by reference. The <br />Developer shall also pursue the construction of any improvements to real property as set forth in. <br />Exhibit "D" and any other such improvements as are reasonably necessary to enable it to <br />implement the Project requirements of adding Personal Property and new Jobs. For purposes of <br />compliance with this Section, the value of Personal Property added under this Section shall be <br />based upon the initial assessed value before depreciation of the Personal Property during the year <br />it is added. <br />Section 3.03. Operation of Business. The Business shall be continuously operated, <br />maintained and managed by the Developer for the duration of the Tenn and such operation shall <br />be in compliance with all applicable laws, ordinances, regulations and licensing and permitting <br />requirements. <br />Section 3.04. Activities of Developer Affiliates. Developer is a wholly owned <br />subsidiary of Altra Industrial Motion, Inc., a Delaware corporation, ("Altra"). In addition to <br />Developer, Altra owns one or more companies ("Altra Affiliates"). Altra and the Altra Affiliates <br />may conduct business on the Land provided and to the extent the activities of Altra or any of the <br />Altra Affiliates are consistent with the Business and the Project, additions of Personal Property <br />and Jobs resulting from the activities of Altra and/or Altra Affiliates on the Land may be <br />included for purposes of meeting the minimum requirements under this Article for the creation of <br />Jobs and the addition of Personal Property.