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EXHIBIT A - PROMISSORY NOTE <br />1 <br /> <br />Amount: Date: <br /> <br />$ 2,000 <br /> <br /> October 3, 2018 <br /> <br /> <br />FOR VALUE RECEIVED,BORO BEVERAGE COMPANY,LLC,a North Carolina <br />limited liability company(hereafter the “Borrower”) promises to pay to the order of Orange <br />County(hereafter the “Company”), theprincipal sum stated above, together with interest on the <br />unpaid principal balance from the date of this Note at the “Prime Rate,” as defined below, plus <br />3.00%(300basis points), on the dates and in the amounts described below. <br />PAYMENTS; PREPAYMENT <br />Borrower shall make its first payment on November1, 2018 in the amount of the interest <br />plus principal accruing from the date ofthe Promissory Note toOctober31, 2018. <br />If not sooner paid, all unpaid principal and all accrued and unpaid intereston this Note <br />shall be due and payable on October 1, 2019. <br />The Borrowermay 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 211Hillsborough, 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 />Borrowerunder 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 Journalgenerally 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 />Companyin its reasonable discretion shall substitute another similar published interest rate <br />index as the Prime Rate under this Note. <br />DocuSign Envelope ID: EB3192FE-16C4-46A8-BD81-BD425A584053