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DocuSign Envelope ID: D25328CF-ADBD-48ED-9460-A8FC704967B0 <br /> ORANGE COUNTY ECONOMIC DEVELOPMENT <br /> BUSINESS INVESTMENT GRANT AGREEMENT <br /> THIS AGREEMENT, entered into this 10 day of May , 20 16,by and between Orange County <br /> ("County"),by and through Orange County Economic Development("Economic Development") and <br /> Chapel Hill Needlepoint"Grant Recipient"). <br /> WHEREAS, Economic Development is a County department that aids existing business <br /> investment and early-stage venture growth, assists local agriculture and local food systems, and supports <br /> entrepreneurial development; and, <br /> WHEREAS, Grant Recipient has a project to expand their existing Orange County business; and, <br /> WHEREAS, the Grant Recipient was selected to receive the Orange County Business Investment <br /> Grant through the procedures duly adopted by Economic Development; and, <br /> NOW THEREFORE, the County and the Grant Recipient,for the consideration and under the <br /> conditions hereinafter set forth, agree as follows: <br /> I. Approved Grant Grant funds are provided for the project("Project") described in the Grant <br /> Recipient's Grant Application("Application"), attached hereto and incorporated herein as Exhibit <br /> A, subject to this Agreement, the Business Investment Grant Program Guidelines ("Guidelines"), <br /> attached as Exhibit B and any additional terms imposed on the Grant Recipient("Additional <br /> Terms") attached as Exhibit C, in that order of priority. <br /> 2. Grant Award. Grant funds in an amount of four thousand three hundred seventy dollars <br /> ($4,375.00)have been awarded by the Grant Subcommittee described in Exhibit B <br /> ("Subcommittee") and shall be released to the Grant Recipient for the approved Project. The <br /> grant cannot be assigned or transferred without prior written approval. <br /> 3. Responsibilities of the Grant Recipient <br /> A. Implementation. The Project shall be implemented in the manner described in Exhibit A. <br /> Time is of the essence in the implementation of the Project. <br /> B. Use of Funds. Grant recipient shall not use the grant funds for any of the prohibited purposes <br /> described in the Guidelines. The grant shall be utilized solely for its intended use, as detailed <br /> in the Application, and subject to the Additional Terms. <br /> 4. Indemnity. The Grant Recipient agrees to indemnify and hold harmless the County and <br /> Economic Development and their officers and employees from any and all claims of actual <br /> injury, damage or loss to a person, or real or personal property that results from or is in any way <br /> connected to the use of the grant funds. <br /> 5. Termination. <br /> A. In the event of any of the circumstances set forth below(hereinafter referred to as"default"), <br /> the Subcommittee may immediately terminate this Agreement: <br /> OCEDbiga July 2015 <br />