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INSTALLMENT FINANCING CONTRACT • <br />THIS INSTALLMENT FINANCING CONTRACT (the "Contract") is dated as <br />of December 1, 2010, and is between ORANGE COUNTY, NORTH CAROLINA, a <br />political subdivision of the State of North Carolina (the "County"), and ORANGE <br />COUNTY PUBLIC FACILITIES COMPANY, a North Carolina nonprofit corporation <br />(the "Company"). <br />RECITALS: <br />The County desires to obtain funds to refinance certain existing financing <br />obligations, to provide for the acquisition of certain equipment, and to pay financing and <br />other related costs. The Company has agreed to advance funds to the County for such <br />purpose. The County is obtaining funds for such advance by providing for the issuance of <br />the 2010 Bonds (as defined below). <br />This Contract provides for the Company's obligation to advance the funds, and the <br />County's obligation to repay the funds with interest. In accordance with the County's <br />authority under Section 160A-20 of the North Carolina General Statutes, the County will • <br />secure its obligations under this Contract by a security interest in the Facilities and the <br />Sites (each as defined in Exhibit A). <br />Unless the context clearly requires otherwise, capitalized terms used in this <br />Contract and not otherwise defined will have the meanings set forth in Exhibit A. <br />NOW, THEREFORE, for and in consideration of the mutual promises and <br />covenants contained in this Contract, the parties agree as follows: <br />ARTICLE I <br />AnVANC'F. <br />The Company advances [$85,000,000] (the "Amount Advanced") to the County, <br />and the County accepts the Amount Advanced. <br />The Company is advancing the Amount Advanced by providing for the transfer <br />and deposit of such Advance as provided in the Trust Agreement. The County <br />acknowledges that the total of such deposits is being [(a) reduced by a discount for the <br />underwriting of the 2010 Bonds, and (b) increased by an amount of original issue • <br />premium in the offering of the 2010 Bonds;] the final total of the deposits to be made by <br />the Company pursuant to this Article is $ <br />2 <br />