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and the failure of Orange Enterprises to comply and remain in compliance with them constitutes <br />an event of default under this agreement: <br />(i) Orange Enterprises is a corporation duly incorporated under the laws of <br />and is in good standing in the State of North Carolina, is authorized to do business in North <br />Carolina and has the power to enter into this Agreement and by proper corporate action has been <br />duly authorized to execute and deliver this Agreement; <br />(ii) neither the execution and delivery of this Agreement, the consummation <br />of the transactions contemplated hereby, nor the fulfillment of compliance of the terms and <br />conditions of this Agreement, conflict with or result in a breach of any of the terms, conditions or <br />provisions of any corporate restriction or any agreement or instrument to which Orange <br />Enterprises is now a party or by which it is bound, or constitute a default under any of the <br />foregoing, or result in the creation or imposition of any lien, charge or encumbrance of any <br />nature whatsoever upon the Premises, except as provided in this Agreement, under the terms of <br />any instrument or agreement; <br />(iii) Orange Enterprises agrees to operate the Premises in order to provide <br />employment as follows: <br /> 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 <br />Employees 201 225 240 249 250 271 <br />O.C. 157 166 181 193 199 203 <br />Residents <br /># of Disabled 149 164 172 178 183 188 <br />Em to ees <br />New Jobs 13 11 8 9 8 8 <br />For Disabled <br />New Jobs for 3 9 7 6 9 9 <br />Non-Disabled <br />Em to ees <br />