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Exhibit A <br /> MEMORANDUM OF AGREEMENT <br /> This MEMORANDUM OF AGREEMENT is _-_by. and between The Orange <br /> ,.. County Industrial Facilities and Po-llution Control Financing <br /> Authority, a political subdivision and body corporate and politic <br /> of the State of North Carolina the <br /> __. { "Authority") , and <br /> Isotechnologies, Inc. , a North Carolina corporation (the <br /> "Company") . <br /> 1. Preliminary Statement. Among the matters of mutual <br /> inducement and reliance which have resulted in the execution of <br /> this Memorandum of Agreement are the following: <br /> (a) The Authority is a political subdivision and body <br /> corporate and politic of the State of North Carolina duly <br /> created pursuant to the <br /> provisions of Article V, Section 9 <br /> of the Constitution of North Carolina and Chapter 159C of <br /> the General Statutes of .North Carolina, as amended (the <br /> "Act") , and is a political subdivision of a state within the <br /> meaning of Section 103(a) (1) of the Internal Revenue Code of <br /> 1954, as amended (the <br /> "Code") , :_or., a constituted authority <br /> hori <br /> ty <br /> authorized to issue obligations for and on behalf of such a <br /> political subdivision, all within the meaning of the <br /> applicable regulations under the `Code. <br /> a -= <br /> (b) The Company proposes the acquisition of a tract of <br /> land of approximately 20 acres located east of Hillsborough, <br /> North Carolina on State Road 1879-,-or Elizabeth Brady Road <br />