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Page 1 of 12 <br />FACILITY NAMING <br />AND <br />SPONSORSHIP AGREEMENT <br /> <br />This Facility Naming and Sponsorship Agreement (“Agreement”) is entered into as of this 1st day of <br />July, 2019, between Sports Endeavors, Incorporated, a North Carolina corporation with offices located <br />at 431 US Highway 70A East, Hillsborough, NC 27278-9912 (“Sports Endeavors”) and Orange County, <br />North Carolina hereinafter referred to as “Orange County,” pursuant to Gen. Statute 160A-460 et seq., <br />and other applicable laws. <br /> <br />WHEREAS, Orange County has constructed and is operating the Soccer.com Center (“Facility”) located <br />on West Ten Road in Efland, North Carolina; and <br /> <br />WHEREAS, the Facility is utilized by local, regional, state, and national organizations, among other <br />uses; and <br /> <br />WHEREAS, Sports Endeavors desires to renew its sponsorship of the Facility in return for certain <br />benefits as set forth below: <br /> <br />NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein, and for <br />other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br />Orange County and Sports Endeavors hereby agree as follows: <br /> <br />1. RECITALS. The recitals set forth above are hereby incorporated into this Agreement. <br />2. TERM AND TERMINATION. <br />2.1. The term of this Agreement shall commence July 1, 2019 and, unless sooner terminated in <br />accordance with the Agreement, shall continue until June 30, 2024. <br />2.2. Provided Sports Endeavors is not in default hereunder, Sports Endeavors shall have the option <br />to extend the term of this Agreement for an additional five (5) years at a mutually agreed upon <br />yearly investment. Sports Endeavors can exercise its option by providing written notice to <br />Orange County of Sports Endeavors intent to renew no later than January 1, 2024. <br />2.3. Sports Endeavors shall have the right to terminate this Agreement upon 30 days written notice <br />to Orange County in the event of the occurrence of any of the following contingencies: <br />2.3.1. If Orange County is not using its best efforts to utilize the Facility to its potential and <br />Sports Endeavors is not receiving the desired brand exposure; or <br />2.3.2. If Orange County is adjudicated as insolvent, declares bankruptcy or is otherwise unable <br />to perform its management duties for the Facility; or <br />2.3.3. Upon material breach of any provision of this Agreement by Orange County, if such <br />breach is not cured within thirty (30) days after Orange County’s receipt of written notice <br />from Sports Endeavors. <br />2.4. Orange County shall have the right to terminate this Agreement upon written notice to Sports <br />Endeavors in the event of the occurrence of any of the following contingencies: <br />2.4.1. If Sports Endeavors is adjudicated as insolvent, declares bankruptcy or is otherwise <br />unable to pay its debts when due; or <br />3