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DocuSign Envelope ID:5FCOF65D-9139-4E6A-B13C-2B74E389CABD <br /> LOAN AND SECURITY AGREEMENT <br /> that Borrower has the right to transfer a security interest in the Collateral; and that the <br /> Borrower will defend the title to the Collateral and its proceeds against the claims of others <br /> 14.2 The Borrower's correct address appears below its signature to this Agreement <br /> 14.3 The Fund may act as attorney for Borrower in adjusting any insurance coverage and in <br /> endorsing any insurance draft and may retain for the satisfaction of the Borrower's obligation <br /> any insurance proceeds and/or unearned premium on such insurance. <br /> 14.4 All information supplied and statements made by or in support of the Borrower in its <br /> application for this credit are true and correct. <br /> 14.5 Any loss or destruction of the Collateral shall not release the Borrower from the payment and <br /> performance of its obligations under this Agreement. <br /> 14.6 The Borrower has only one place of business in North Carolina and that place of business is <br /> in Orange County. <br /> 14.7 If more than one Borrower executes this Agreement„ their obligations under this Agreement <br /> shall be joint and several. <br /> PART FIVE-THE FUND'S POLICIES AND PROCEDURES <br /> 15. The Borrower has been given a copy of the Fund's Policies and Procedures, and has been given <br /> an opportunity to review the policies and procedures and ask questions about them. The Borrower <br /> will not use the loan proceeds for any purpose that the Fund's policies and procedures say is an <br /> improper use of the loan proceeds. <br /> 16. If at any time the Borrower has any questions about whether a particular use of the loan proceeds <br /> is permitted, or has any other questions about the policies and procedures or the terms of the loan <br /> documents (or wants to request any changes or any permission to vary the terms), Borrower will <br /> ask the Fund for the desired information. The Borrower recognizes that it is the Borrower's <br /> responsibility to comply with the policies and procedures and the terms of the Loan documents, and <br /> it is not the Fund's responsibility to make sure the Borrower either understands the terms or <br /> complies with the terms. The Fund may take action against the Borrower if the Borrower fails to <br /> comply with the policies and procedures and the terms of the loan documents. The Borrower is <br /> entitled to rely on a waiver by the Fund of a requirement of the policies and procedures and the <br /> terms of the loan documents only if that waiver is in writing. <br /> PART SIX—OTHER AGREEMENTS BETWEEN THE PARTIES <br /> 17. Communication— <br /> 17.1 Any communication required or permitted by this Agreement must be in writing. <br /> 17.2 Any communication under this Agreement shall be sufficiently given and deemed given when <br /> delivered by hand or on the date shown as the date of delivery on a United States Postal <br /> Service return receipt, if addressed as follows: <br /> 17.2.1 If to the Fund, addressed as follows: Orange County, 131 W. Margaret Lane, Suite <br /> 211, Hillsborough, NC 27278; or, <br /> 17.2.2 If to the Borrower, addressed to the address shown below the Borrower's signature <br /> to this Agreement. - <br /> Page 5 of 6 <br />