2021-053-E Economic Dev-Boro Beverage Company loan amendment

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DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7E EXHIBIT A - PROMISSORY NOTE Amount: Date: $ 25,000 February 25, 2019 FOR VALUE RECEIVED, Boro Beverage Company, LLC, a North Carolina limited liability company (hereafter the "Borrower") promises to pay to the order of the Orange County Small Business Loan Program Company (hereafter the "Company"), the principal sum stated above, together with interest on the unpaid principal balance from the date of this Note at the "Prime Rate," as defined below, plus 3.00% (300 basis points), on the dates and in the amounts described below. PAYMENTS; PREPAYMENT Borrower shall make its first payment on April 1, 2019 in the amount of the interest accruing from the date of the Promissory Note to February 28, 2019, plus the principal and interest for the first month beginning March 1, 2019. The remaining sixty-five (65) payments shall include principal plus interest on the outstanding balance for the preceding month. If not sooner paid, all unpaid principal and all accrued and unpaid interest on this Note shall be due and payable on September 1, 2024. The Borrower may prepay the outstanding principal amount at its option at any time, in whole or in part, without penalty or premium. Each regular monthly payment and any prepayments shall be applied first to the payment of interest accrued to the payment date and then to principal. The Borrower may prepay the outstanding principal amount at its option at any time, in whole or in part, without penalty or premium. Each regular monthly payment and any prepayments shall be applied first to the payment of interest accrued to the payment date and then to principal. MANNER OF PAYMENT All payments shall be made payable to "Orange County Small Business Loan Program Company," and shall either be delivered to the Company at its offices at 131 West Margaret Lane Suite 211, Hillsborough, NC 27278, or sent by mail in care of Orange County Economic Development Department, 131 West Margaret Lane Suite 211, Hillsborough, NC 27278. The Company, however, by written notice to the Borrower under the Loan Agreement, may designate a different address for payments. All payments shall be made in lawful money of the United States of America. CALCULATION OF INTEREST For the purposes of this Note, the "Prime Rate" means the highest interest rate listed as the U.S. "Prime Rate" in "Money Rates" section of The Wall Street Journal generally,availool!Qi in Orange County, North Carolina. Changes in such published rate shall be effective immediately to change the interest rate payable on this Note. If such rate ceases to be published, then the 1