HomeMy WebLinkAbout2024-788-E-Economic Dev-BORO BEVERAGE COMPANY-Amendment PROMISSORY NOTE
AMENDMENT TO PROMISSORY NOTE
THIS AMENDMENT TO PROMISSORY NOTE (this “Agreement”), dated as of December 12, 2024, by and
between BORO BEVERAGE COMPANY, LLC (the “Borrower”), and Orange County (together with its
successors and assigns, “Lender”).
WHEREAS, Borrower executed and delivered a Note dated as of February 25, 2019 for the benefit of
Lender in the original principal amount of $25,000.00 (the “Note”);
WHEREAS, Lender and Borrower are parties to that certain Loan and Security Agreement dated as of
January 1, 2021, by and between Borrower and Lender, as amended by that Amendment to Loan and
Security Agreement dated the date hereof between such parties (the “Loan Agreement”);
WHEREAS, Lender and Borrower desire to amend the Note as set forth herein.
NOW, THEREFORE, for other good and valuable consideration, the parties hereto hereby agree as
follows:
1. All capitalized terms not otherwise defined herein shall have the respective meanings
set forth in the Note and/or the Loan Agreement.
2. From and after the date hereof, the Principal Amount of the Note shall be $9,613.39.
3. All references to the Principal Amount contained in the Note shall be deemed to refer to
the Principal Amount as amended by this Agreement, as the same may be further amended, restated,
replaced, supplemented or otherwise modified from time to time.
4. Section INTEREST; PAYMENTS; PREPAYMENT is hereby amended in its entirety to read
as follows: “Interest payable on this Note shall accrue at the annual rate of zero percent (0%) and shall
accrue from the closing date.
Borrower shall make its first payment on (January 1, 2025) in the amount of the interest accruing from
the date of the Promissory Note to (December 31, 2024). The remaining twenty-eight (28) payments
shall be as follows:
Payments would be structured in two phases:
$100.00 per month payment for the first 4-months (January 2025 – April 2025)
$385.69 per month payment for the remaining 24-months of the loan (May 2025 – April 2027)
· Principal on the outstanding balance for the preceding month beginning (December, 2024)
with the payments to be calculated by amortizing the loan so that it would be paid in full on
(May 1, 2027).
If not sooner paid, all unpaid principal and all accrued and unpaid interest on this Note shall be due and
payable on (May 1, 2027).
Docusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
The Borrower may prepay the outstanding principal amount at its option at any time, in whole or in
part, without penalty or premium.
Each regular monthly payment and any prepayments shall be applied first to the payment of interest
accrued to the payment date and then to principal.”
Section MANNER OF PAYMENT is hereby amended in its entirety to read as follows:
All payments shall be made via Electronic Fund Transfer (EFT) payable to “Orange County.” Any
additional payments above the monthly payment amount collected through EFT, may be delivered or
mailed to the County at its offices at 131 West Margaret Lane, Hillsborough, NC 27278. The County,
however, by written notice to the Borrower under the Loan Agreement, may designate a different
address for payments. All payments shall be made in legal tender of the United States of America.
5. Except as specifically modified and amended herein, all other terms, conditions and
covenants contained in the Note shall remain in full force and effect.
6. All references in the Loan Documents to the “Note” shall mean the Note as hereby
amended.
7. This Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns.
[SIGNATURE PAGES IMMEDIATELY FOLLOW]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly
authorized representatives, all as of the day and year first above written.
BORROWER:
BORO BEVERAGE COMPANY, LLC
By: _____________________
Name: Carly Erickson
Title: Managing Member
LENDER:
Orange County
By: _____________________
Name: Travis Myren
Title: County Manager
Docusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
AMENDMENT TO PROMISSORY NOTE
THIS AMENDMENT TO PROMISSORY NOTE (this “Agreement”), dated as of August 22, 2023, by and
between BORO BEVERAGE COMPANY, LLC (the “Borrower”), and Orange County (together with its
successors and assigns, “Lender”).
WHEREAS, Borrower executed and delivered a Note dated as of February 25, 2019 for the benefit of
Lender in the original principal amount of $25,000.00 (the “Note”);
WHEREAS, Lender and Borrower are parties to that certain Loan and Security Agreement dated as of
January 1, 2021, by and between Borrower and Lender, as amended by that Amendment to Loan and
Security Agreement dated the date hereof between such parties (the “Loan Agreement”);
WHEREAS, Lender and Borrower desire to amend the Note as set forth herein.
NOW, THEREFORE, for other good and valuable consideration, the parties hereto hereby agree as
follows:
1. All capitalized terms not otherwise defined herein shall have the respective meanings
set forth in the Note and/or the Loan Agreement.
2. From and after the date hereof, the Principal Amount of the Note shall be $14,270.79.
3. All references to the Principal Amount contained in the Note shall be deemed to refer to
the Principal Amount as amended by this Agreement, as the same may be further amended, restated,
replaced, supplemented or otherwise modified from time to time.
4. Section INTEREST; PAYMENTS; PREPAYMENT is hereby amended in its entirety to read
as follows: “Interest payable on this Note shall accrue at the annual rate of zero percent (0%) and shall
accrue from the closing date.
Borrower shall make its first payment on (September 1, 2023) in the amount of the interest accruing
from the date of the Promissory Note to (August 31, 2023). The remaining thirty-nine (39) payments
shall be as follows:
Payments would be structured in two phases:
$200.00 per month payment for the first 4-months (September 2023 – December 2023)
$385.69 per month payment for the remaining 35-months of the loan (January 2024 – November 2026)
· Principal on the outstanding balance for the preceding month beginning (August, 2023)
with the payments to be calculated by amortizing the loan so that it would be paid in full on
(November 1, 2026).
If not sooner paid, all unpaid principal and all accrued and unpaid interest on this Note shall be due and
payable on (November 1, 2026).
DocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
The Borrower may prepay the outstanding principal amount at its option at any time, in whole or in
part, without penalty or premium.
Each regular monthly payment and any prepayments shall be applied first to the payment of interest
accrued to the payment date and then to principal.”
Section MANNER OF PAYMENT is hereby amended in its entirety to read as follows:
All payments shall be made via Electronic Fund Transfer (EFT) payable to “Orange County.” Any
additional payments above the monthly payment amount collected through EFT, may be delivered or
mailed to the County at its offices at 131 West Margaret Lane, Hillsborough, NC 27278. The County,
however, by written notice to the Borrower under the Loan Agreement, may designate a different
address for payments. All payments shall be made in legal tender of the United States of America.
5. Except as specifically modified and amended herein, all other terms, conditions and
covenants contained in the Note shall remain in full force and effect.
6. All references in the Loan Documents to the “Note” shall mean the Note as hereby
amended.
7. This Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns.
[SIGNATURE PAGES IMMEDIATELY FOLLOW]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly
authorized representatives, all as of the day and year first above written.
BORROWER:
BORO BEVERAGE COMPANY, LLC
By: _____________________
Name: Carly Erickson
Title: Managing Member
LENDER:
Orange County
By: _____________________
Name: Bonnie Hammersley
Title: County Manager
DocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Amendment to Loan and Security Agreement
This Amendment to Loan and Security Agreement (the “Amendment”) is made and entered into
between BORO BEVERAGE COMPANY, LLC (“Borrower”) and Orange County (“Lender”).
Recitals
1. Borrower and Lender entered into a Loan and Security Agreement dated February 25, 2019 (the “Loan
Agreement”).
2. Borrower and Lender desire to modify and amend the Loan Agreement as provided herein.
Amendment
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Lender and Borrower hereby agree and amend and modify the Loan Agreement as follows:
1. Definitions. Except as otherwise provided herein, terms defined in the Loan Agreement shall have the
same meaning when used herein. Terms defined in the singular shall have the same meaning when used
in the plural and vice versa.
2. Amendments. The Loan Documents are hereby modified and amended as follows:
(a) Section 17 of the Loan Agreement is amended as follows:
17.2 Any communication under this Agreement shall be sufficiently given and deemed given when
delivered by hand or on the date shown as the date of delivery on a United States Postal Service
return receipt, if addressed as follows:
17.2.1 If to the County, addressed as follows: Orange County 131 W. Margaret Ln, Hillsborough,
NC 27278
(b) Section 12.11 and 12.12 of the Loan Agreement are deleted:
3. References. Each reference in the Loan Documents to any of the Loan Documents shall be deemed to
be a reference to such documents as modified hereby.
4. Borrower Covenants. Borrower covenants with Lender as follows:
(a) Borrower shall execute, deliver, and provide to Lender such additional agreements, documents, and
instruments as reasonably required by Lender to effectuate the intent of this Amendment.
(b) Borrower hereby fully, finally, and forever releases and discharges Lender and its successors, assigns,
directors, employees, agents, and representatives from any and all actions, causes of action, claims,
debts, demands, liabilities, obligations, and suits of whatever kind or nature, in law or equity, that
Borrower has or in the future may have, whether known or unknown, arising from or relating to the
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Loan, the Loan Documents, or the actions or omissions of Lender in respect to the Loan or the Loan
Documents arising from events, acts or omissions occurring prior to the date hereof.
5. Payment of Expenses and Attorneys’ Fees. Borrower shall pay all reasonable expenses of Lender
relating to the negotiation, drafting of documents, and documentation of this Amendment, including,
without limitation, all reasonable attorneys’ fees and legal expenses. Lender is authorized and directed
to disburse a sufficient amount of the Loan proceeds to pay these expenses in full.
6. Agreement Remains in Full Force and Effect. The Loan Documents are ratified and affirmed by
Borrower and shall remain in full force and effect as modified hereby. Any property rights or rights to or
interests in property granted as security in the Loan Documents shall remain as security for the Loan and
the obligations of Borrower in the Loan Documents.
7. Integrated Agreement; Amendment. This Amendment, together with the Loan Agreement and the
Loan Documents, constitutes the entire agreement between Lender and Borrower concerning the
subject matter hereof, and may not be altered or amended except by written agreement signed by
Lender.
All other prior and contemporaneous agreements, arrangements, and understandings between the
parties hereto as to the subject matter hereof are, except as otherwise expressly provided herein,
rescinded.
This Amendment and the Loan Agreement shall be read and interpreted together as one agreement.
Date: December 30, 2020.
Lender:
Orange County
By: ________________
Name: Bonnie Hammersley
Title: County Manager
Borrower:
BORO BEVERAGE COMPANY, LLC
By: ________________
Name: Carly Erickson
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Title: Managing Member
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
AMENDMENT TO PROMISSORY NOTE
THIS AMENDMENT TO PROMISSORY NOTE (this “Agreement”), dated as of December 30, 2020, by and
between BORO BEVERAGE COMPANY, LLC (the “Borrower”), and Orange County (together with its
successors and assigns, “Lender”).
WHEREAS, Borrower executed and delivered a Note dated as of February 25, 2019 for the benefit of
Lender in the original principal amount of $25,000.00 (the “Note”);
WHEREAS, Lender and Borrower are parties to that certain Loan and Security Agreement dated as of
January 1, 2021, by and between Borrower and Lender, as amended by that Amendment to Loan and
Security Agreement dated the date hereof between such parties (the “Loan Agreement”);
WHEREAS, Lender and Borrower desire to amend the Note as set forth herein.
NOW, THEREFORE, for other good and valuable consideration, the parties hereto hereby agree as
follows:
1. All capitalized terms not otherwise defined herein shall have the respective meanings
set forth in the Note and/or the Loan Agreement.
2. From and after the date hereof, the Principal Amount of the Note shall be $25,000.00
3. All references to the Principal Amount contained in the Note shall be deemed to refer to
the Principal Amount as amended by this Agreement, as the same may be further amended, restated,
replaced, supplemented or otherwise modified from time to time.
4. Section INTEREST; PAYMENTS; PREPAYMENT is hereby amended in its entirety to read
as follows: “Interest payable on this Note shall accrue at the annual rate of zero percent (0%) and shall
accrue from the closing date.
Borrower shall make its first payment on (February 1, 2021) in the amount of the interest accruing from
the date of the Promissory Note to (December 31, 2019). The remaining sixty-eight (68) payments shall
be as follows:
Payments would be structured in two phases:
$181.16 per month payment for the first 6-months (February 2021 – July 2021)
$385.69 per month payment for the remaining 62-months of the loan (August 2021 – September 2026)
· Principal on the outstanding balance for the preceding month beginning (January, 2021)
with the payments to be calculated by amortizing the loan so that it would be paid in full on
(September 1, 2026).
If not sooner paid, all unpaid principal and all accrued and unpaid interest on this Note shall be due and
payable on (September 1, 2026).
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
The Borrower may prepay the outstanding principal amount at its option at any time, in whole or in
part, without penalty or premium.
Each regular monthly payment and any prepayments shall be applied first to the payment of interest
accrued to the payment date and then to principal.”
Section MANNER OF PAYMENT is hereby amended in its entirety to read as follows:
All payments shall be made via Electronic Fund Transfer (EFT) payable to “Orange County.” Any
additional payments above the monthly payment amount collected through EFT, may be delivered or
mailed to the County at its offices at 131 West Margaret Lane, Hillsborough, NC 27278. The County,
however, by written notice to the Borrower under the Loan Agreement, may designate a different
address for payments. All payments shall be made in legal tender of the United States of America.
5. Except as specifically modified and amended herein, all other terms, conditions and
covenants contained in the Note shall remain in full force and effect.
6. All references in the Loan Documents to the “Note” shall mean the Note as hereby
amended.
7. This Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns.
[SIGNATURE PAGES IMMEDIATELY FOLLOW]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly
authorized representatives, all as of the day and year first above written.
BORROWER:
BORO BEVERAGE COMPANY, LLC
By: _____________________
Name: Carly Erickson
Title: Managing Member
LENDER:
Orange County
By: _____________________
Name: Bonnie Hammersley
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Title: County Manager
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7EDocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Revised 07/20
ORANGE COUNTY—DEPARTMENT USE ONLY
______________________________________________________________________________
Party/Vendor Name: BORO BEVERAGE COMPANY, LLC Party/Vendor Contact Person: Carly Erickson Contact
Phone: Party/Vendor Address: 400 W. Rosemary St., Suite 1005 City Chapel Hill State: NC Zip: 27516
Department: Economic Development Amount: n/a Purpose: Amendment to Orange County Loan & Security
Agreement and PROMISSORY NOTE Code(s): 48100001-450072 Vendor # (N/A if new vendor) Vendor
is a BOCC consultant? Yes No Contract Type: (Check one) New Renewal Amendment Effective
Date 12/29/20 Approved by Board Yes No Agenda Date: N/A
This agreement is approved as to technical form and content and I as Department Director affirmatively state work on
this project has not been initiated prior to execution of the agreement:
Department Director’s Signature ________________________________________ Date: ________
Agreements for emergency services or repair are not subject to the above affirmation. If services related to this
agreement have already begun or been completed please briefly describe the nature of the emergency condition that
was addressed:
Information Technologies
(Applicable only to hardware/software purchases or related services) This agreement has been reviewed and is
approved as to information technology content and specifications:
Office of the Chief Information Officer___________________________________ Date: ________
Risk Management
This agreement is approved for sufficiency of insurance standards, specifications, and requirements:
Office of the Risk Management Officer___________________________________ Date: _________
Financial Services
This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act:
Office of the Chief Financial Officer ____________________________________ Date: _________
Legal Services
This agreement is approved as to legal form and sufficiency:
Office of the County Attorney __________________________________________Date: ________
Clerk to the Board
Received for record retention:
All Docusign contracts must be copied to the Clerk upon completion: occlerkdocs@orangecountync.gov
The following signature block is for hard copies only and is not required for Docusign contracts:
Office of the Clerk to the Board __________________________________________Date:_________
DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7E
1/5/2021
1/5/2021
DocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BFDocusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Revised 04/23
1
ORANGE COUNTY—INTERNAL USE ONLY
______________________________________________________________________________
Finance Information
Vendor Name: BORO BEVERAGE COMPANY, LLC Vendor Contact Person: Carly Erickson Phone: (919)
537-8001 Address: 400 W. Rosemary St., Suite 1005 City Chapel Hill State: NC Zip: 27516 Department:
Economic Development Amount: Purpose: Amendment PROMISSORY NOTE Budget Code(s): 48100001-
450072 Vendor # Vendor Status with NCSOS: Active Vendor is a BOCC consultant: Yes No
Contract Details
Contract Type: New Amendment (Original Contract: (12/29/20) (Most Recent Amendment
)
Effective Date 9/1/23 End Date Notice Date (Notice Purpose )
Award
Approved by Board (Agenda Date: ); Made or Administered by
Signature Authority
- BOCC Express Delegation (Agenda Date: )
- Policy 9.4: Under $5,000; Service Under $90,000; Construction Under $250,000
- Budget Policy Section XV (Capital Improvement Project: )
Bidding
Informal Bidding ($30k-$90k); Formal RFP ($90k+); Other (<$30k); Exception(# )
Department Affirmation
This agreement is approved as to technical form and content and I as Department Director affirmatively state work
on this project has not been initiated prior to execution of the agreement.
Services related to this agreement have already begun or been completed. Description of the nature of the
emergency condition that was addressed:
Department Director’s Signature ________________________________________ Date: ________
Information Technologies
This agreement has been reviewed and is approved as to information technology content and specifications:
Office of the Chief Information Officer___________________________________ Date: ________
Inapplicable because no hardware/software purchases or related services
Risk Management
This agreement is approved for sufficiency of insurance standards, specifications, and requirements:
Office of the Risk Management Officer___________________________________ Date: _________
Financial Services
This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act:
Office of the Chief Financial Officer ____________________________________ Date: _________
Legal Services
This agreement is approved as to legal form and sufficiency:
Office of the County Attorney __________________________________________Date: ________
Clerk to the Board
All Docusign contracts must be copied to the Clerk upon completion: occlerkdocs@orangecountync.gov
The following signature block is for hard copies only and is not required for Docusign contracts:
Received for record retention:
Office of the Clerk to the Board __________________________________________Date:_________
DocuSign Envelope ID: 4320B151-61D3-4EA2-8E7B-09C1BDDC18BF
8/24/2023
8/25/2023
Docusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
Revised 01/24
1
ORANGE COUNTY—INTERNAL USE ONLY
______________________________________________________________________________
Finance Information
Vendor Name: BORO BEVERAGE COMPANY, LLC Vendor Contact Person: Carly Erickson Phone: (919)
537-8001 Address: 422 W Franklin St City Chapel Hill State: NC Zip: 27516 Department: Economic
Development Amount: N/A Purpose: Amendment PROMISSORY NOTE Budget Code(s): 48100001-450072
Vendor # 64717 Vendor Status with NCSOS: Current-Active Vendor is a BOCC consultant: Yes No
Contract Details
Contract Type: New Amendment (Original Contract: 12/29/20) (Most Recent Amendment
8/22/23)
Effective Date 1/1/25 End Date Notice Date (Notice Purpose )
Award
Approved by Board (Agenda Date: ); Made or Administered by
Signature Authority
- BOCC Express Delegation (Agenda Date: )
- Policy 9.4: Under $5,000; Service Under $90,000; Construction Under $250,000
- Budget Policy Section XV (Capital Improvement Project: )
Bidding
Informal Bidding ($30k-$90k); Formal RFP ($90k+); Other (<$30k); Exception(# )
Department Affirmation
This agreement is approved as to technical form and content and I as Department Director affirmatively state work
on this project has not been initiated prior to execution of the agreement.
This agreement is approved as to technical form and content. Services related to this agreement have alread y
begun or been completed. Description of the nature of the emergency condition that was addressed:
Department Director’s Signature ________________________________________ Date: ________
Information Technologies
This agreement has been reviewed and is approved as to information technology content and specifications:
Office of the Chief Information Officer___________________________________ Date: ________
Inapplicable because no hardware/software purchases or related services
Risk Management
This agreement is approved for sufficiency of insurance standards, specifications, and requirements:
Office of the Risk Management Officer___________________________________ Date: _________
Financial Services
This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act:
Office of the Chief Financial Officer ____________________________________ Date: _________
Legal Services
This agreement is approved as to legal form and sufficiency:
Office of the County Attorney __________________________________________Date: ________
Clerk to the Board
All Docusign contracts must be copied to the Clerk upon completion: occlerkdocs@orangecountync.gov
The following signature block is for hard copies only and is not required for Docusign contracts:
Received for record retention:
Office of the Clerk to the Board __________________________________________Date:_________
Docusign Envelope ID: 252F613A-4295-426F-B7F1-299019A56719
12/18/2024
12/18/2024