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4 <br />County pursuant to the Original Agreement and the Prior Modification remains on or about <br />February 1, 2012. <br />The North Carolina Local Government Commission joins in the execution of this <br />instrument for the purpose of evidencing its approval of the modifications effected by this <br />instrument. <br />The parties desire to modify the Original Agreement, as modified by the Prior <br />Modification. The purpose of the modification is to provide for an adjustment of the principal <br />and interest payments payable under the Original Agreement, as modified by the Prior <br />Modification. <br />The security interest evidenced hereby is a "construction mortgage" within the meaning <br />of N.C. Gen. Slat. § 25-9-313. <br />Now, therefore, for and in consideration of the premises, and for the purposes <br />described in the Original Agreement and the Prior Modification, the County covenants and <br />agrees with the Deed of Trust Trustee and BB&TGF (and their respective heirs, successors <br />and assigns), as follows: <br />1. Exhibit D to the Original Agreement, as modified by the Prior Modification, is <br />hereby amended to read as set forth on Exhibit A attached to this Modification Agreement and <br />incorporated herein by this reference. <br />2. Except as modified by this Modification Agreement, the terms and provisions of <br />the Original Agreement and the Prior Modification are in all respects ratified and confirmed. <br />3. Notwithstanding any other provision of this agreement, the Original Agreement <br />or the Prior Modification, the County, the Deed of Trust Trustee and BB&TGF intend to comply <br />with North Carolina General Statutes Section 160A-20. No deficiency judgment may be entered <br />against the County in violation of such Section 160A-20, including, without limitation, any <br />deficiency judgment for amounts that may be owed under this agreement or the Original <br />Agreement when the sale of all of the Mortgaged Property, as defined in the Original Agreement, <br />is insufficient to produce enough money to pay in full all Required Payments, as defined in the <br />Original Agreement. <br />4. This document may be executed in counterparts, including separate counterparts, <br />all of which shall constitute but a single agreement. <br />[The remainder of this page has been left blank intentionally) <br />2 <br />