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<br />• SHLF draft of No~Tember 11, 2010 <br />Prepared by and return after recording to: <br />Robert M. Jessup Jr. <br />Sanford Holshouser. LLP <br />209 Lloyd St., Suite 350 <br />Carrboro, NC 2751.0 <br />STATE OF NORTH CAROLINA ) The collateral is or includes fixtures. <br />} <br />This Deed of Trust <br />ORANGE COUNTY ) secures future advances. <br />THIS DEED OF TRUST AND SECURITY AGREEMENT (this "Deed of <br />Trust") is dated as of December 1, 2010, and is granted by ORANGE COUNTY, <br />NORTH CAROLINA, apolitical subdivision of the State of North Carolina (the <br />• "County"), to a resident of County, <br />(the "Deed of Trust Trustee"}, for the benefit of ORANGE COUNTY PUBLIC <br />FACILITIES COMPANY, a North Carolina nonprofit corporation (the "Company"). <br />RECITALS: <br />The Company is advancing [$85,000,000] to the County pursuant to an <br />Installment Financing Contract dated as of December 1, 2010 (the "Financing Contract"), <br />between the County and the Company. The County will use these funds, together with <br />other available funds, to refinance certain existing financing obligations, to provide for <br />the acquisition of certain equipment, and to pay financing and other related costs. <br />As a condition to entering into the Financing Contract, the Company has required <br />the County to secure its obligations under the Financing Contract by this conveyance of <br />certain public facilities (the "Facilities," as more particularly defined below) that were <br />acquired and improved with proceeds of some of the financings that are now to be <br />refinanced, along with the real property associated with the Facilities and the other <br />"Mortgaged Property," as defined below. <br />The Facilities are located on the real property described in Exhibit A. The County <br />• is the record owner of that real property. <br />This Deed of Trust is given to secure current advances under the Financing <br />Contract of [$85,000,000], as well as .potential future advances in the total maximum <br />