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38 <br />Sanford Holshouser draft.of Anri123, 2007 <br />Prepared by and return after recording to: <br />Robert M. Jessup Jr. <br />Sanford Holshouser LLP <br />Post Office Box 5646 <br />Cary, NC 27512-5646 <br />STATE OF NORTH CAROLINA ) <br />ORANGE COUNTY ) <br />The collateral is or includes fixtures. ' <br />This deed of trust secures future advances. <br />THIS DEED OF TRUST AND SECURITY AGREEMENT (this "Deed of <br />Trust") is dated as of June 1, 2007, and is granted by ORANGE COUNTY, <br />NORTH CAROLINA, a political subdivision of the State of North Carolina (the <br />"County"), to [name] (the "Deed of Trust Trustee"), for the benefit of SUNTRUST <br />LEASING CORPORATION ("SunTrust"). <br />RECITALS: <br />Pursuant to an Installment Financing Contract dated as of June 1, 2007 (the <br />"Financing Contract"), between the County and SunTrust, SunTrust is providing <br />for an advance of [$50,057,000] for the benefit of the County. The County will <br />use these funds, together with other available funds, to provide for the acquisition, <br />construction and improvement of certain school facilities and other public <br />improvements, as well as to pay financing and other related costs, as more fully <br />described in the Financing Contract. <br />As a condition to entering into the Financing Contract, SunTrust has <br />required the County to secure its obligations under the Financing Contract by this <br />97561v1 38 <br />