1999 S Finance - NATIONSBANK, N.A Modification Agreement 05-04-1999 3b

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RETURN THIS COPY TO THE CLERK'S OFFICE FOR THE PERMANENT AGENDA FILE S~`7~~`~~ ~iS~F Return After Recording To: Geoffrey E. Gledhill, Esq. Orange County Attorney P.O. Drawer 1529 Hillsborough, NC 27278 This instrument has been preaudited in the manner required by The Local Government Budget and Fiscal Control Act. e Kenneth T. Chavious Finance Officer Orange County, North Carolina MODIFICATION AG FFMFNT STATE OF NORTH CAROLINA ) COLLATERAL IS OR INCLUDES FIXTURES ORANGE COUNTY ) THIS MODIFICATION AGREEMENT (this "Modification Agreement") is dated as of May 1, 1999, and is granted by ORANGE COUNTY, NORTH CAROLINA, a public body of the State of North Carolina (the "County"), to Stephen D. Poe, a citizen and resident of Forsyth County, North Carolina, as trustee (the "Deed of Trust Trustee"), for the benefit of NATIONSBANK, N.A., a national banking association organized and existing under the laws of the United States and having an office in Chapel Hill, North Carolina (the "Beneficiary"). This Modification Agreement, among other things, modifies and amends (1) an Installment Purchase Contract dated as of January 17, 1995 (the "Contract"), between the County and the Beneficiary, and (2) a Deed of Trust and Security Agreement dated as of January 17, 1995 (the "Deed of Trust;" together with the Contract, the "Original Documents"), from the County to the Trustee for the benefit of the Beneficiary, which Deed of Trust was recorded on January 17, 1995, at Book 1320, Page 38, Orange County Registry. The North Carolina Local Government Commission joins in the execution of this instrument for the purpose of evidencing its approval of the modifications effected by this instrument. The parties desire to modify the Original Documents to reduce the interest rate payable by the County on its financing obligations to the Beneficiary.