2000 S EDC - Approval of Resolution Concerning Revised Documents Governing Orange County Small Business Loan Program

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Exhibit A—Form of Promissory Note from Company to Banks PROMISSORY NOTE Amount: Date: $ March , 2000 FOR VALUE RECEIVED, the undersigned ORANGE COUNTY SMALL BUSINESS LOAN PROGRAM COMPANY, a North Carolina nonprofit corporation (the "Company"), promises to pay to the order of a [national banking association] [North Carolina banking corporation] (the "Bank"), at its offices at North Carolina, or at such other place as the holder hereof may from time to time designate in writing, the principal sum of Dollars ($ ), or so much thereof as may have been loaned and outstanding hereunder, together with interest from the date hereof on the unpaid principal balance at the "Prime Rate," as defined below, all in lawful money of the United States of America. This is one of the Notes referred to in that certain Loan Agreement among the Company, Orange County, North Carolina, the Bank, and certain other financial institutions of even date herewith(the "Loan Agreement"). Capitalized terms used in this Note and not otherwise defined have the meanings ascribed thereto in the Loan Agreement. PRINCIPAL ADVANCES; INTEREST. Principal of this Note shall be advanced to the Company from time to time as provided under the Loan Agreement. Each Advance shall bear interest from the date of such Advance at the Prime Rate. An authorized Bank officer shall note the amount and date of each Advance on the Certificate of Principal Advances, and shall also identify on the Certificate of Principal Advances (in a manner reasonably acceptable to both the County and the Bank) the corresponding Program Loan to which the Advance relates. For the purposes of this Note, the "Prime Rate" means the interest rate so denominated and set by the Bank in its discretion as its "Prime Rate," as in effect from time to time. Changes in the Prime Rate 14