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12 <br /> MANAGEMENT AGREEMENT <br /> THIS MANAGEMENT AGREEMENT (this " Agreement " ) dated as of the <br /> 0 , t IVp.c., ,� 3 , 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 l : <br /> " ADA " - the Americans with Disabilities Act, 42 U . S . C . Sections 1210142213 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 $ 25500 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 />