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Docusign Envelope ID : CO3CBB42-6385 -4265-A237- 1 BAD6C002EB8 <br /> MANAGEMENT AGREEMENT <br /> THIS MANAGEMENT AGREEMENT ( "Agreement" ) dated as of October 1 , 2024 (the <br /> " 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 />