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residents; <br />b) fostering residential development and enhancing the collection of ad <br />valorem taxes associated therewith; <br />C) raising enrollment in and adding to the diversity and quality of schools in <br />the City which, in turn will help to attract employers to the City; and <br />d) enabling the City to retain and attract healthcare related businesses in need <br />of specially trained employees and personnel. <br />Section 1.06. As the economic development benefits enumerated above are consistent <br />with the purposes of the Program, the City has asked Seton and Seton wants to participate in the <br />Program. Participating in this Program will help Seton recruit and retain qualified employees <br />and personnel. <br />Section 1.07. The Parties wish to define their respective duties and obligations necessary <br />to encourage certain employees and contracted personnel of Seton to maintain their primary <br />residences in the City utilizing the resources available through the Program. <br />Section 1.08. For the reasons stated in these Recitals and in consideration of the mutual <br />benefits to and promises of the Parties set forth below, the Parties want to enter into this <br />Agreement and agree to the terms and conditions set forth in this Agreement. <br />PART 2. QUALIFIED PERSONNEL <br />Section 2.01. Qualified Personnel. For purposes of this Agreement, employees and <br />contracted personnel to whom this Agreement shall apply are those employed by or under <br />contract with Seton: <br />a) on a full-time basis; <br />b) earning a qualifying annualized average salary <br />Page 2 of 8