Orange County NC Website
t <br />• <br />Contract require enforcement by a court of equity, the enforceability thereof maybe limited <br />by such principles of equity as the court having jurisdiction may impose. <br />(b) Pursuant to the Act, no deficiency judgment may be rendered against the <br />County in the event of a breach by the County of its obligations under the Contract, <br />including its obligation to pay the Installment Payments under the Contract, and the taxing <br />power of the County is not pledged, and may not be pledged, to pay any obligation of the <br />County under the Contract. <br />(c) Under North Carolina law, the recovery of attorneys' fees is limited by and <br />subject to the procedures and limitations set forth in Section 6-21.2 of the General Statutes <br />of North Carolina, as amended. <br />(d) We have assumed for purposes of all of our opinions contained herein that <br />the Bank will exercise its rights under the Contract in good faith and in a commercially <br />reasonable manner. <br />This opinion is for the sole benefit of the Bank and any assignee of the Contract and may not <br />be relied upon by any other person without our prior written consent. <br />Very truly yours, <br />COLEMAN, GLEDHILL, HARGRAVE & PEEK, P.C. <br />G~~u¢ <br />Isgaetters~rbcfmancingcounselopin.ltr <br />