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• Contract and this Deed of Trust, and the County complies with all of the terms, covenants <br />and conditions of the Financing Contract and this Deed of Trust, this conveyance will be <br />null and void and will be canceled of record at the County's request and cost, and title <br />will revert as provided by law; <br />BUT IF, HOWEVER, THERE OCCURS AN EVENT OF DEFAULT <br />UNDER THE FINANCING CONTRACT, then the Company will have the remedies <br />provided for in this Deed of Trust, including directing the Deed of Trust Trustee to sell <br />the Mortgaged Property under power of sale. <br />THE COUNTY COVENANTS AND AGREES with the Deed of Trust Trustee <br />and the Company (and their respective heirs, successors and assigns), in consideration of <br />the foregoing, as follows: <br />1 Security Provided By This Deed of Trust <br />1-1 Security for Payment and Performance. This Deed of Trust secures <br />the County's payment, as and when the same become due and payable, of all amounts <br />payable by the County under the Financing Contract and this Deed of Trust (the <br />"Obligations") and the County's timely compliance with all terms, covenants and <br />. conditions of (a) the Financing Contract, (b) this Deed of Trust, (c) the Trust Agreement <br />dated as of December 1, 2010 (the "Trust Agreement"), between the Company and the <br />Trustee named therein, (d) the ($85,000,000] Limited Obligation Bonds (the "Bonds") <br />executed and delivered pursuant to the Trust Agreement, and (e) any Additional Bonds, <br />as defined in the Trust Agreement, as may be executed and delivered pursuant to the <br />Trust Agreement. <br />1-2 Present and Future Advances. This Deed of Trust is executed to secure all <br />the County's present and future obligations to the Company related to the Mortgaged <br />Property. The making of future advances is subject to the terms and conditions of the <br />Financing Contract, the Trust Agreement and this Deed of Trust. The amount of the <br />present obligations secured by this Agreement is [Eighty-Five Million] Dollars <br />([$85,000,000]) and the total amount, including present and future obligations, that may be <br />secured by this Agreement at any one time is One Hundred Million Dollars <br />($100,000,000). The period within which future obligations may be incurred is 30 years <br />from December 1, 2010. <br />1-3 Security Interest in Fixtures. This Deed of Trust is intended to be a <br />security agreement pursuant to the North Carolina Uniform Commercial Code for the <br />"Fixtures," as defined below, and any other portion of the Mortgaged Property deemed to <br />• be personal property (the "Personal Property Collateral"). The County grants to the <br />Company and the Deed of Trust Trustee a security interest in the Personal Property <br />Collateral to secure the Obligations. The County agrees that the security interest in the <br />3 <br />