2020-334-E-Economic Dev-Lazarus Repair and Maintenance

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ESBLPLSA 12.14 Keep and maintain books, records, and other documents relating directly to the receipt and disbursement of loan funds and the fulfillment of this Agreement. Each party agrees that any duly authorized representative of the County shall at all reasonable times, have access to and the right to inspect, copy, audit and examine all of the books, records and other documents relating to the loan and fulfillment of this Agreement. 12.15 Authorize, give permission and provide necessary information and cooperation for Orange County and its agents and representatives to debit funds from a bank account through an Electronic Fund Transfer (“EFT”) on the Automated Clearing House network. 12.16 Borrower shall endeavor to meet the following conditions but in no case fail to meet at least one of the following conditions for at least one year: (a) Job Retention, within six months of the award retain at least 50% of the work force that existed on January 1, 2020 and retain 100% within one year of the award date; (b) Living Wage, pay 90% of Borrower’s work force a living wage of $15 per hour; or (c) Community Participation and Involvement, in kind service, discounts or donation to first responders, healthcare and other front line workers in the amount of at least $250 annually for award recipients with net income of up to $100,000 and at least $500 annually for all others. Any value derived from discounts shall be the result of at least 15% off retail price. Determinations regarding qualifying recipients of in kind services or donations shall be at the sole discretion of the County. Borrower shall supply evidence of compliance through NC Employment Commission reports, IRS 941 Payroll quarterly reports, Orange County Living Wage certificate or, if those are inapplicable, owner affidavit. Validation of meeting the selected requirement will be obtained six months from the award date. 13. The Borrower agrees that it will not do any of the following without the County’s prior written consent: 13.1 Effect a change of ownership or control of the Business; 13.2 Consolidate or merge with any other County, unless the procedures for assignment and/or assumption are complied with; or 13.3 At any time an Event of Default is in existence, give any preferential treatment or make any advance to any person or entity directly or indirectly controlling or affiliated with or controlled by the Borrower, or any other County, or to any officer, director, or employee of the Borrower, or of any such County; 13.4 For two years after the date of this Agreement, undertake additional debt financing without prior written consent of the County, except that this provision shall not prohibit Borrower from (a) purchase money financing of ordinary and necessary equipment or (b) credit purchases of inventory. The County’s consent, when required under this provision, shall not be unreasonably withheld. 13.5 Permit or suffer to exist any other lien, security interest or encumbrance upon the Collateral, except for the existing security interest described in Exhibit A and the security interest created pursuant to this Agreement and any other agreements delivered by the Borrower pursuant to this Agreement. 13.6 Use the Collateral for any illegal purposes. 13.7 Assert a claim or defense held against the County against any assignee of this Agreement 14. The Borrower further represents to the County and acknowledges that the following things are true: 14.1 No financing statement, other than those financing statement(s) on file with the North Carolina Secretary of State at the date of execution of this Agreement and described in Exhibit B (if DocuSign Envelope ID: C9987797-8D57-49E7-BA05-0AD09986F1C8