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Renovation evidencing completion of the work identified in the invoice and the amount due <br />for such work. Within 30 days of receipt of such paid invoices the City will remit one or <br />more payments to Recipient in the amount of the invoices in a cumulative amount not to <br />exceed $75,000.00. <br />PART 4. AFFILIATE CONTINGENCIES <br />Section 4.01. Affiliate Contingencies. Recipient agrees that its obligations to repay <br />the Loan shall be conditioned upon Affiliate meeting certain requirements (the "Affiliate <br />Contingencies ") as set forth in this section. <br />(a) Job Creation. As of the end of the Term of this Agreement Affiliate shall <br />have created at least 78 new full -time jobs having an average annual salary of at least <br />$35,000.00 per year, together with group health insurance benefits ( "Qualifying Jobs "). <br />(b) Employment of San Marcos Residents. Thirty percent of all Qualifying <br />Jobs shall be filled by San Marcos residents. For purposes of this subsection, newly hired <br />employees who relocate to and establish their principal place of residency in San Marcos <br />from other localities will be considered San Marcos residents. Recipient, however, shall <br />endeavor to fill up to 80 percent of such Qualifying Jobs with San Marcos residents by <br />undertaking continuous affirmative local job recruiting efforts targeting San Marcos <br />residents, including, but not limited to, participating in or sponsoring local job fairs, <br />advertising in local newspapers, posting job openings on social networking sites and websites <br />allowing for allowing job seekers to search for jobs by location, advertising available jobs <br />with and recruiting Texas State University -San Marcos students and alumni through the <br />University's Department of Career Services. <br />(c) Continuous Business Operation. Affiliate shall continuously operate its <br />