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2005 NS Finance - Refinancing BB&T Installment Purchase Agreements
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2005 NS Finance - Refinancing BB&T Installment Purchase Agreements
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Last modified
6/7/2011 11:01:44 AM
Creation date
9/29/2010 3:07:42 PM
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Template:
BOCC
Date
1/24/2005
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
5i
Document Relationships
Agenda - 01-24-2005-5i
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\Board of County Commissioners\BOCC Agendas\2000's\2005\Agenda - 01-24-2005
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<br />81/12/2005 10:50 9196443324 <br />FINANCE <br />Resolution Aoarovina Terms of Re-financing <br />WHEREAS, Orange County. North Carolina (the "County"} has <br />determined to change the terms of the Payment Schedule to that Financing <br />Agreement and Deed of Trust granted to F. Louis Loyd, III (the "Deed of Trust <br />Trustee") for the benefit of Branch Banking and Trust Company, successor to <br />and assignee of BB&T Leasing Corporation ("B68T") dated as of December 1, <br />1996, and recorded in Book 1536, Page 459, Orange County Registry; and those <br />subsequent Modification Agreements dated as of March 1, 1997, and recorded <br />at Book 1564, Page 163, Orange County Registry, and dated as of June 1, 1998 <br />and recorded at Book 1797, Page 393, Orange County Registry, respectively <br />(together, the "Original Agreement"); and <br />WHEREAS, the changes to the terms of the Payment Schedule include <br />revising the interest rate from 4.92% to 3.69%; <br />NOW, THEREFORE BE IT RESOLVED by Orange County, North <br />Carolina, that the proposed changes to the Payment Schedule of the Original <br />Agreement are hereby approved and the ofhcers designated to sign financing <br />documents are hereby authorized and directed to take such action as may be <br />necessary to effectuate such changes. All other terms and conditions of the <br />Original Agreement and the Payment Schedule thereof remain in full force and <br />effect. <br />Adopted this <br />Attestation: <br />SEAL <br />day of January, 2005. <br />Clerk to the Board Board Chair <br />Orange County, North Carolina Orange County, North Carolina <br />
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