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42 <br /> Promissory Note,Private Owner EXHIBIT F <br /> BUILDING REUSE PROGRAM—Revision#3 <br /> 2020-025-3201.2587 <br /> For VALUE RECEIVED and subject to the terms of and secured by the Rural Economic <br /> Development Loan Agreement and Legally Binding Commitment—Private-Owner Building <br /> Reuse Program,Reference Number 2020-025-3201-2587("LBC,"which is incorporated by <br /> reference herein), the undersigned borrowers](the"Owner")jointly and severally promise[s] to <br /> pay to lender Orange County or its assigns (together,the"Governmental Unit") or to the <br /> intended third-party beneficiary of this Promissory Note,the North Carolina Department of <br /> Commerce("Commerce"),upon demand and as directed by either the Governmental Unit or <br /> Commerce,an amount of principal loan("Loan")funds under the LBC up to and including <br /> $500,000.00 Dollars but which amount shall not exceed the amount of Loan funds the Owner has <br /> actually received under the LBC,plus interest and attorney's fees as addressed below. Unless <br /> otherwise specified herein,capitalized terms in this Promissory Note shall have the same <br /> meaning as those set forth in the LBC. <br /> The Owner acknowledges and represents that: (i)the undersigned is or are the only <br /> person(s), entity or entities who or that have any ownership interests in the certain real property <br /> located at: <br /> 6801 Industrial Drive j <br /> Mebane,NC 27302 <br /> in Orange County,North Carolina(the"Property");and (11)the undersigned shall be jointly and <br /> severally liable for any and all debts secured by this Promissory Note. <br /> The Owner further acknowledges that: (i)in order for the Owner to receive the Loan,the <br /> LBC requires the Owner to complete a"Project";(ii) in order for the Owner to receive the Loan, <br /> what the LBC identifies as the"Business"must maintain certain jobs and create and maintain <br /> certain other jabs in working with the Owner to complete the Project;(III)the Loan from the <br /> Governmental Unit to the Owner under the LBC consists entirely of a grant from the State of <br /> North Carolina to the Governmental Unit,subject to certain clawback provisions; (iv)Commerce <br /> is an intended third-party beneficiary to the LBC and to this Promissory Note;and(v)the LBC <br /> specifies those circumstances in which the Governmental Unit or Commerce can terminate the <br /> LBC and require the Owner to repay an amount of Loan funds according to a formula or else in <br /> an amount to be determined in the sole discretion of the Governmental Unit or Commerce but <br /> which amount shall not exceed the amount of Loan funds the Owner has actually received under j <br /> the LBC. <br /> Upon default,the Governmental Unit and/or Commerce may employ attorneys to enforce <br /> their rights and remedies under this Promissory Note and the LBC, and the Owner agrees to pay <br /> their reasonable attorneys' fees,plus all other reasonable expenses they incur in exercising their <br /> rights and remedies upon default, The rights and remedies of the Governmental Unit and <br /> Commerce,as described in this Promissory Note and the LBC,shall be cumulative and may be <br /> pursued singly,successively or together against the Owner(including each of the undersigned), <br /> the Property,or any other funds,property or security held by the Owner for payment or security, <br /> in the sole discretion of the Governmental Unit and Commerce. The failure to exercise any such <br /> right or remedy shall not be a waiver or release of such rights or remedies or the right to exercise <br /> any of them at another time. <br /> Promissory Note- t <br />