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FACILITY NAMING <br /> AND <br /> SPONSORSHIP AGREEMENT <br /> This Facility Naming and Sponsorship Agreement ("Agreement") is entered into as of this 1 " day of <br /> July, 2024, between Sports Endeavors , Incorporated, a North Carolina corporation with offices located <br /> at 431 US Highway 70A East, Hillsborough, NC 27278 - 9912 (" Sports Endeavors ") and Orange County, <br /> North Carolina hereinafter referred to as " Orange County, " pursuant to Gen . Statute 160A460 et seq . , <br /> and other applicable laws . <br /> WHEREAS , Orange County has constructed and is operating the Soccer . com Center ("Facility") located <br /> on West Ten Road in Efland, North Carolina; and <br /> WHEREAS , the Facility is utilized by local, regional, state, and national organizations , among other <br /> uses ; and <br /> WHEREAS , Sports Endeavors desires to renew its sponsorship of the Facility in return for certain <br /> benefits as set forth below . <br /> NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein, and for <br /> other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br /> Orange County and Sports Endeavors hereby agree as follows . <br /> 1 . RECITALS . The recitals set forth above are hereby incorporated into this Agreement . <br /> 2 . TERM AND TERMINATION. <br /> 2 . 1 . The term of this Agreement shall commence July 1 , 2024 and, unless sooner terminated in <br /> accordance with the Agreement, shall continue until June 30 , 2029 . <br /> 2 . 2 . Provided Sports Endeavors is not in default hereunder, Sports Endeavors shall have the option <br /> to extend the term of this Agreement for an additional five (5 ) years at a mutually agreed upon <br /> yearly investment . Sports Endeavors can exercise its option by providing written notice to <br /> Orange County of Sports Endeavors intent to renew no later than January 1 , 2029 . <br /> 2 . 3 . Sports Endeavors shall have the right to terminate this Agreement upon 30 days written notice <br /> to Orange County in the event of the occurrence of any of the following contingencies . <br /> 2 . 3 . 1 . If Orange County is not using its best efforts to utilize the Facility to its potential and <br /> Sports Endeavors is not receiving the desired brand exposure ; or <br /> 2 . 3 . 2 . If Orange County is adjudicated as insolvent, declares bankruptcy or is otherwise unable <br /> to perform its management duties for the Facility ; or <br /> 2 . 3 . 3 . Upon material breach of any provision of this Agreement by Orange County, if such <br /> breach is not cured within thirty (3 0) days after Orange County ' s receipt of written notice <br /> from Sports Endeavors , <br /> 2 . 4 . Orange County shall have the right to terminate this Agreement upon written notice to Sports <br /> Endeavors in the event of the occurrence of any of the following contingencies : <br /> 2 . 4 . 1 . If Sports Endeavors is adjudicated as insolvent, declares bankruptcy or is otherwise <br /> unable to pay its debts when due ; or <br /> Page 1 of 12 <br />