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DocuSign Envelope ID:56COB206-26C6-403B-9D33-D169069A82E4 <br /> LOAN AND SECURITY AGREEMENT <br /> 14.6 The Borrower has only one place of business in North Carolina and that place of <br /> business is in Orange County. <br /> 14.7 If more than one Borrower executes this Agreement, their obligations under this <br /> Agreement shall be joint and several. <br /> PART FIVE-THE COMPANY'S POLICIES AND PROCEDURES <br /> 15. The Borrower has been given a copy of the Company's Policies and Procedures, and has <br /> been given an opportunity to review the policies and procedures and ask questions about <br /> them. The Borrower will not use the loan proceeds for any purpose that the Company's <br /> policies and procedures say is an 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 <br /> proceeds is permitted, or has any other questions about the policies and procedures or the <br /> terms of the loan documents (or wants to request any changes or any permission to vary <br /> the terms), Borrower will ask the Company for the desired information. The Borrower <br /> recognizes that it is the Borrower's responsibility to comply with the policies and <br /> procedures and the terms of the loan documents, and it is not the Company's <br /> responsibility to make sure the Borrower either understands the terms or complies with <br /> the terms. The Company 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 <br /> Borrower is entitled to rely on a waiver by the Company of a requirement of the policies <br /> and procedures and the 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 <br /> given when delivered by hand or on the date shown as the date of delivery on a <br /> United States Postal Service return receipt, if addressed as follows: <br /> 18.2.1 If to the Company, addressed as follows: Orange County Small Business <br /> Loan Program Company, Post Office Box 1177, Hillsborough, NC 27278; or, <br /> 18.2.2 If to the Borrower, addressed to the address shown below the Borrower's <br /> signature to this Agreement. <br /> Page 7 of 9 <br />