Orange County NC Website
<br /> <br />EXHIBIT B MANAGER COMPENSATION <br /> <br />During the Term of this Agreement, Manager shall receive compensation from the <br />Owner subject to annual appropriation according to the following: <br /> <br />1. Base Management Fee <br /> <br />1. Base Management Fee. Beginning July 1, 2025 and continuing thereafter on <br />the first day of each month throughout the remainder of the Term, Owner shall pay a <br />monthly fee to Manager (the “Base Management Fee”) in equal monthly installments of <br />$16,197.00 per month. Each installment will be due and payable on the first day of each <br />successive month. The initial Base Management Fee for the term year ending June 30, <br />2026 shall not exceed $194,364.00 Dollars. <br />(a) Beginning July 1, 2026 and annually thereafter on July 1 of each succeeding <br />year of the Term the Base Management Fee shall be adjusted annually to <br />reflect changes in the Consumer Price Index for the Southern region (CPI) as <br />maintained by the Bureau of Labor Statistics. <br />(b) The Base Management Fee shall increase if the CPI increases and shall <br />decrease if the CPI decreases. Any such increase or decrease based on the <br />CPI shall not exceed 5%. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE