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5 <br /> MANAGEMENT AGREEMENT <br /> THIS MANAGEMENT AGREEMENT ("Agreement") dated as of <br /> (the "Effective Date") by and between Orange County, North Carolina, P.O. Box 8181, <br /> Hillsborough, NC 27278, a political subdivision of the State of North Carolina ("County") <br /> and Piedmont Food Processing Center, Inc., 500 Valley Forge Road, Hillsborough, NC <br /> 27278, a North Carolina non-profit corporation ("PFPC"). <br /> BACKGROUND <br /> The County is the owner of a food processing facility located at 500 Valley Forge Rd, <br /> Hillsborough, NC 27278 ("Facility") intended to serve as an economic development <br /> incubator for food businesses. <br /> Piedmont Food Processing Center (PFPC) is a North Carolina Corporation providing <br /> management services to shared kitchens across the state. <br /> The County desires to engage PFPC, and PFPC desires to accept such engagement, to <br /> provide 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 <br /> high-quality management services, thereby enhancing the use and enjoyment of the <br /> Facility. <br /> NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements <br /> herein contained, the parties hereto, intending to be legally bound, hereby agree as <br /> follows. <br /> 1. Definitions <br /> For purposes of this Agreement, the following terms have the meanings referred to in this <br /> 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 <br /> Amendment Act of 2008, as it now exists and as it may be amended in the future by <br /> statute or judicial interpretation. <br /> "Capital Equipment" - all furniture, fixtures, machinery or equipment having a per item <br /> original cost of $2,500 or more and an expected useful life of more than one year. It is <br /> expected that PFPC shall purchase or lease and maintain its own Capital Equipment. <br /> Capital Equipment owned by the County and situated at the Facility as of the date first <br /> above recorded is further described in Exhibit A. Exhibit A is current as of the date first <br /> 1 <br />