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..,,~ ~ <br />STATE OF NORTH CAROLINA <br />COUNTY OF ORANGE <br />PERFORMANCE <br />AGREEMENT <br />This Agreement, made and entered into by and between the Town of Chapel Hill, herein <br />"Town", and Orange County by and for its Chapel Hill/Orange County Visitors Bureau, 501 <br />West Franklin Street, Suite 104, Chapel Hill, NC 27516, herein "Contractor" for services <br />hereinafter described for the Town of Chapel Hill. This Contract is between the Town of Chapel <br />Hill and Orange County by and for its Chapel Hill/Orange County Visitors Bureau for a <br />comprehensive visitor services program targeted toward_ providing services to potential visitors <br />to Chapel Hill and Orange County for FY 2010-11. <br />WITNESSETH <br />That for and in consideration of the mutual promises and conditions set forth below, the Town <br />and Contractor agree: <br />Duties of the Contractor: The Contractor shall operate a comprehensive visitor services <br />program targeted toward providing services to potential visitors to Chapel Hill and <br />Orange County. The Contractor shall use Town funds for general operational support <br />and to provide visitor services. The Contractor will participate in discussions with the <br />Town's Economic Development Committee to define the appropriate roles and <br />responsibilities of the Contractor in the Town's economic development strategy in <br />consideration of this payment. <br />2. Duties of the Town: The Town has appropriated the sum of One Hundred Fifty <br />Thousand Dollars ($150,000) to the Contractor for the fiscal year 2010-2011. The Town <br />does not obligate itself to provide any other support to the Contractor this fiscal <br />year, nor in any succeeding year. It is expressly noted that the $20,000 base <br />increase in funding this year over the prior fiscal year is a one-time only increase <br />and it is not expected that this increase will be included in future years' <br />Performance Agreements. <br />3. Fee Schedule and Maximum Sum: Payments of $3 7,500 each will be made on or after <br />the following dates: July 1, 2010; October 1, 2010; January 1, 2011; and April 1, 2011. <br />4. Billing and Payment: The Contractor shall bill and the Town shall pay the rates set forth <br />herein. Payment will be made by the Town within thirty (30) days of receipt of an <br />accurate invoice, approved by the contact person or his/her designee. <br />5. Financial Records: The Contractor agrees to allow the Town to inspect its financial books <br />and records upon reasonable notice, during normal working hours. <br />6. Termination for Cause: In the event that the Contractor shall cease to exist as an <br />organization, or shall enter bankruptcy proceedings, or be declared insolvent, or liquidate <br />Revised 7/2010 <br />Page 1 of 3 <br />