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ESBLPLSA <br /> <br />applicable), covers the Collateral; there is no adverse lien or security interest in the Collateral; <br />that Borrower has the right to transfer a security interest in the Collateral; and that the Borrower <br />will defend the title to the Collateral and its proceeds against the claims of others <br /> <br />14.2 The Borrower’s correct address appears below its signature to this Agreement <br /> <br />14.3 The County may act as attorney for Borrower in adjusting any insurance coverage and in <br />endorsing any insurance draft and may retain for the satisfaction of the Borrower’s obligation <br />any insurance proceeds and/or unearned premium on such insurance. <br /> <br />14.4 All information supplied and statements made by or in support of the Borrower in its application <br />for this credit are true and correct. <br /> <br />14.5 Any loss or destruction of the Collateral shall not release the Borrower from the payment and <br />performance of its obligations under this Agreement. <br /> <br />14.6 The Borrower has its principal place of business in North Carolina and that place of business is <br />in Orange County. <br /> <br />14.7 If more than one Borrower executes this Agreement, their obligations under this Agreement <br />shall be joint and several. <br /> <br />PART FIVE-THE COUNTY’S POLICIES AND PROCEDURES <br /> <br />15. The Borrower has been given a copy of the County’s Emergency Loan Program Policies and <br />Procedures, and has been given an opportunity to review the policies and procedures and ask <br />questions about them. The Borrower will not use the loan proceeds for any purpose that the County’s <br />policies and procedures say is an improper use of the loan proceeds. <br /> <br />16. If at any time the Borrower has any questions about whether a particular use of the loan proceeds is <br />permitted, or has any other questions about the policies and procedures or the terms of the loan <br />documents (or wants to request any changes or any permission to vary the terms), Borrower will ask <br />the County for the desired information. The Borrower recognizes that it is the Borrower’s <br />responsibility to comply with the policies and procedures and the terms of the loan documents, and <br />it is not the County’s responsibility to make sure the Borrower either understands the terms or <br />complies with the terms. The County 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 Borrower is <br />entitled to rely on a waiver by the County of a requirement of the policies and procedures and the <br />terms of the loan documents only if that waiver is in writing. <br /> <br />PART SIX – OTHER AGREEMENTS BETWEEN THE PARTIES <br /> <br />17. Communication – <br />17.1 Any communication required or permitted by this Agreement must be in writing. <br /> <br />17.2 Any communication under this Agreement shall be sufficiently given and deemed given when <br />delivered by hand or on the date shown as the date of delivery on a United States Postal Service <br />return receipt, if addressed as follows: <br /> <br />17.2.1 If to the County, addressed as follows: Orange County Emergency Loan Program, <br />131 W. Margaret Lane, Suite 205, Hillsborough, NC 27278; or, <br /> <br />DocuSign Envelope ID: 03233199-7132-43D7-A472-1876C4D65FEC