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4 <br /> MANAGEMENT AGREEMENT <br /> THIS MANAGEMENT AGREEMENT (this "Agreement") dated as of the <br /> by and between Orange County,North Carolina, P.O. Box 8181, <br /> Hillsborough,NC 27278, a political subdivision of the State of North Carolina("the County"), <br /> and Piedmont Food Processing Center, Inc. 500 Valley Forge Road, Hillsborough NC 27278 <br /> ("PFPC"). <br /> BACKGROUND <br /> The County is the owner of a food processing facility ("Facility") intended to serve as an <br /> economic development incubator for food businesses. <br /> PFPC is engaged in the business of providing management services, including operations <br /> services and consultation for regional food startup businesses. <br /> The County desires to engage PFPC, and PFPC desires to accept such engagement, to provide <br /> management services for the Facility on the terms and conditions set forth herein. <br /> The County and PFPC intend to work in mutual accord in order to ensure provision of high <br /> quality management services, thereby enhancing the use and enjoyment of the Facility. <br /> NOW, THEREFORE, in consideration of the mutual premises, covenants and agreements <br /> herein contained, the parties hereto, intending to be legally bound, hereby agree as follows: <br /> 1. Definitions <br /> For purposes of this Agreement, the following terms have the meanings referred to in <br /> this Section 1: <br /> "ADA" -the Americans with Disabilities Act, 42 U.S.C. Sections 12101-12213 as <br /> amended by the Civil Rights Act of 1991 (42 U.S.C. Section 1981(a)) and the ADA Amendment <br /> Act of 2008, as it now exists and as it may be amended in the future by statute or judicial <br /> interpretation. <br /> "Capital Equipment" - any and all furniture, fixtures, machinery or equipment, either <br /> additional or replacement, having a per item original cost of$2,500 or more and an expected <br /> useful life or more than one year. <br /> "Capital Improvements" - any and all building additions, alterations, renovations, <br /> repairs or improvements that have an initial dollar cost of not less than $2,500 per project. <br /> "County" - as defined in the first paragraph of this Agreement. <br /> 2 <br />