Orange County NC Website
32 <br />"Completion Certificate" means the certificate evidencing substantial <br />completion of the Financed Facilities provided for in Section 2.3(a) of the Project <br />Fund Agreement. <br />"Completion Date" means the date on which the County delivers the <br />Completion Certificate. <br />"Construction Contracts" means the contracts between the County and <br />contractors for the construction of the Pledged Facilities. <br />"County Board" means the County's governing board as from time to time <br />constituted. <br />"Contract Payments" means Installment Payments and Additional Payments. <br />"County Representative" means the County Manager, County finance officer <br />or any other person or persons at the time designated, by a written certificate <br />furnished to SunTrust and signed on the County's behalf by the County Manager or <br />the Chair of the County .Board, to act on the County's behalf for the purpose of <br />performing any act (or any specified act) under this Contract. <br />"Deed of Trust" means the Deed of Trust and Security Agreement, dated as <br />of June 1, 2007, from the County to a deed of trust trustee for the benefit of <br />SunTrust and its assigns, as it may be duly amended or supplemented. <br />"Event of Default" means one or more events of default as defined in <br />Section 10.1. <br />"Event of Nonappropriation" means a determination by the County Board <br />not to include an appropriation for Contract Payments in the County budget for any <br />Fiscal Year, as contemplated in Section 2.5(a), or any subsequent action by the <br />County Board to delete such an appropriation from an approved County budget. <br />"Federal Securities" means, to the extent such are legal investments for the <br />County's funds at the time of purchase, (a) direct obligations of the United States of <br />America for which its full faith and credit are pledged, (b) securities or obligations <br />evidencing direct ownership interests in specified portions (principal or interest) of <br />obligations described in (a), or (c) obligations unconditionally guaranteed by the <br />United States of America. <br />97562v1 32 <br />