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Esbfpgc 043020 v0.2 <br />ORANGE COUNTY ECONOMIC DEVELOPMENT <br />EMERGENCY SMALL BUSINESS FUNDING PROGRAM GRANT AGREEMENT <br /> <br />THIS AGREEMENT, entered into this 5th day of May 2020, by and between Orange County <br />(“County”), and Eighth Abundance, Inc. (“Grant Recipient”). <br /> <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 /> <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 /> <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 /> <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 /> <br /> NOW THEREFORE, the County and the Grant Recipient, for the consideration and <br />under the conditions hereinafter set forth, agree as follows: <br /> <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 5, 2020 and <br />incorporated by reference, subject to this Agreement, the Emergency Small Business <br />Funding Program Guidelines (“Guidelines”), attached as Exhibit A. <br /> <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 /> <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 />DocuSign Envelope ID: 4BEA7BE7-6697-444C-AFD4-EE399598E89C