Orange County NC Website
Browse       Search
<br />FACILITY MANAGEMENT AGREEMENT <br /> <br />THIS FACILITY MANAGEMENT AGREEMENT (the "Agreement") is made and entered into this <br />1st day of July 2025 (the "Effective Date"), by and between Orange County, a political <br />subdivision of the State of North Carolina (the “Owner”), and Recreation Factory Partners, <br />Inc., a North Carolina Corporation having its principal office in Hillsborough, North Carolina <br />(the “Manager”). <br /> <br />RECITALS <br /> <br />WHEREAS, Owner owns the infrastructure, buildings, parking, lighting, sports <br />playing surfaces, sports equipment, and all other hard assets associated with the athletic <br />facility as the same exist now or may exist in the future including improvements related <br />thereto specifically located at 101 Meadowlands Drive, Hillsborough, North Carolina 27278, <br />as the same exist now or may exist in the future, known as the “Orange County Sportsplex” <br />or any other name(s) that may be identified in the future (hereinafter the "Facility"); <br /> <br />WHEREAS, Manager has expertise in providing management services for multi- <br />purpose athletic facilities throughout the United States; <br /> <br />WHEREAS, Owner and Manager desire for Manager to operate and manage the <br />Facility subject to the terms and conditions set forth herein; <br /> <br />NOW THEREFORE, in consideration of the promises and covenants herein <br />contained and other good and valuable consideration, the receipt of which is hereby <br />acknowledged, Owner and Manager agree as follows: <br /> <br />ARTICLE 1 DEFINITIONS <br /> <br />1.1. Definitions. For purposes of this Agreement, the following terms have the <br />meanings referred to in this Section: <br /> <br />Affiliate: A person or company that directly or indirectly, through one or more <br />intermediaries, controls or is controlled by, or is under common control with, a specified <br />person or company. <br /> <br />Agreement: The "Agreement" shall mean this Agreement, together with all exhibits <br />attached hereto (each of which are incorporated herein as an integral part of this <br />Agreement), as amended, supplemented or restated from time to time. <br /> <br />Approved Budgets: The “Approved Budgets” consist of the annual operating <br />budget of the Facility and the annual cash flow budget of the Facility. The cash flow budget <br />indicates monthly receipts and disbursements from July 1 through June 30 and includes <br />beginning and ending cash. <br /> <br />Base Management Fee: The "Base Management Fee” shall have the meaning <br />ascribed to such term in Exhibit B. <br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE