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DocuSign Envelope ID:444E83CA-38C0-41FA6-1391B-D74A62F54B12 <br /> ORANGE COUNTY ECONOMIC DEVELOPMENT <br /> EMERGENCY SMALL BUSINESS FUNDING PROGRAM GRANT AGREEMENT <br /> THIS AGREEMENT, entered into this 6th day of May 2020, by and between Orange County <br /> ("County"), and Hillsborough Gallery of Arts Inc ("Grant Recipient"). <br /> WHEREAS, the COVID-19 pandemic has impacted the global markets and disrupted <br /> economic and business growth throughout the United States including Orange County; and <br /> WHEREAS, on March 10, 2020, the State of North Carolina declared a State of <br /> Emergency in response to the COVID-19 outbreak, followed by the federal government <br /> declaring a State of National Emergency on March 13, 2020, and a Stay-at-Home Order issued <br /> by Orange County on March 26, 2020; and <br /> WHEREAS, the pandemic and emergency orders have negatively impacted the <br /> workforce, businesses, industries and economies with closures and depressed economic <br /> activity; and <br /> WHEREAS, the County is committed to supporting its local businesses and created an <br /> emergency loan program using approximately $300,000 of Article 46 Sales Tax revenue <br /> originally budgeted for the Small Business Loan Program and making this grant pursuant to its <br /> authority granted in N.C. Gen. Stat. 153A-376 and Chapter 166A; and <br /> WHEREAS, the emergency program is targeted to small businesses experiencing <br /> revenue loss due to the pandemic in the form of both grants and loans intended to provide <br /> immediate financial assistance in order to continue operations, return furloughed employees to <br /> work or prevent further closures and layoffs. <br /> NOW THEREFORE, the County and the Grant Recipient, for the consideration and <br /> under the conditions hereinafter set forth, agree as follows: <br /> 1. Approved Grant. Grant funds are provided for the project ("Project") described in the <br /> Grant Recipient's Grant and Loan Application ("Application"), dated May 6, 2020 and <br /> incorporated by reference, subject to this Agreement, the Emergency Small Business <br /> Funding Program Guidelines ("Guidelines"), attached as Exhibit A. <br /> 2. Grant Award. Grant funds in an amount of FIVE THOUSAND DOLLARS ($5,000.00) <br /> have been awarded as described in Exhibit A and shall be released to the Grant <br /> Recipient for the approved Project. The grant cannot be assigned or transferred without <br /> prior written approval. <br /> 3. Responsibilities of the Grant Recipient <br /> A. Implementation. The Project shall be implemented in the manner described in Exhibit <br /> A. Time is of the essence in the implementation of the Project. <br /> Esbfpgc 043020 v0.2 <br />