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DocuSign Envelope ID:5FCOF65D-9139-4E6A-B13C-2B74E389CABD <br /> EXHIBIT A - PROMISSORY NOTE <br /> Amount: Date: <br /> $ 12,000.00 October 2, 2018 <br /> FOR VALUE RECEIVED, CHEESE BREAD KING, LLC, a North Carolina limited liability <br /> company (hereafter the "Borrower") promises to pay to the order of Orange County (hereafter <br /> the "Company"), the principal sum stated above, together with interest on the unpaid principal <br /> balance from the date of this Note at the "Prime Rate," as defined below, plus 3.00% (300 basis <br /> points), on the dates and in the amounts described below. <br /> PAYMENTS; PREPAYMENT <br /> Borrower shall make its first payment on November 1, 2018 in the amount of the interest <br /> plus principal accruing from the date of the Promissory Note to October 31, 2018. <br /> If not sooner paid, all unpaid principal and all accrued and unpaid interest on this Note <br /> shall be due and payable on October 1, 2021. <br /> The Borrower may prepay the outstanding principal amount at its option at any time, in <br /> whole or in part, without penalty or premium. <br /> Each regular monthly payment and any prepayments shall be applied first to the <br /> payment of interest accrued to the payment date and then to principal. <br /> The Borrower may prepay the outstanding principal amount at its option at any time, in <br /> whole or in part, without penalty or premium. <br /> Each regular monthly payment and any prepayments shall be applied first to the <br /> payment of interest accrued to the payment date and then to principal. <br /> MANNER OF PAYMENT <br /> All payments shall be made payable to "Orange County and shall either be delivered to <br /> the Company at its offices at 131 West Margaret Lane, Suite 211, Hillsborough, NC 27278, or <br /> sent by mail in care of Orange County Economic Development Department, 131 W. Margaret <br /> Lane, Suite 211, Hillsborough, NC 27278. The Company, however, by written notice to the <br /> Borrower under the Loan Agreement, may designate a different address for payments. All <br /> payments shall be made in lawful money of the United States of America. <br /> CALCULATION OF INTEREST <br /> For the purposes of this Note, the `Prime Rate" means the highest interest rate listed as <br /> the U.S. "Prime Rate" in "Money Rates" section of The Wall Street Journal generally available in <br /> Orange County, North Carolina. Changes in such published rate shall be effective immediately <br /> to change the interest rate payable on this Note. If such rate ceases to be published, then the <br /> Company in its reasonable discretion shall substitute another similar published interest rate <br /> index as the Prime Rate under this Note. <br /> 1 <br />