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RES-1996-001 Resolution Finalizing the $2 Million Private Placement Financing for the Jail Addition, Courthouse Addition and SHSC Construction
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RES-1996-001 Resolution Finalizing the $2 Million Private Placement Financing for the Jail Addition, Courthouse Addition and SHSC Construction
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Last modified
11/27/2013 9:42:53 AM
Creation date
10/15/2013 1:06:20 PM
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BOCC
Date
1/16/1996
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
V-A
Document Relationships
Agenda - 01-16-1996 - V-A
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\Board of County Commissioners\BOCC Agendas\1990's\1996\Agenda - 01-16-1996
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4.11 Complete Release. If Grantor shall pay all sums due <br /> under the Contract in accordance with its terms, together with <br /> interest thereon, and any renewals and extensions thereof, and <br /> shall comply with all of the covenants, terms and conditions of <br /> this Deed of Trust, then this conveyance shall be null and void and <br /> shall be cancelled of record at the request and expense of Grantor. <br /> 4.12 Limited Obligation of Grantor. NO PROVISION OF THIS <br /> DEED OF TRUST SHALL BE CONSTRUED OR INTERPRETED AS CREATING A <br /> PLEDGE OF THE FAITH AND CREDIT OF THE GRANTOR WITHIN THE MEANING OF <br /> ANY CONSTITUTIONAL DEBT LIMITATION. NO PROVISION OF THIS DEED OF <br /> TRUST SHALL BE CONSTRUED OR INTERPRETED AS CREATING A DELEGATION OF <br /> GOVERNMENTAL POWERS NOR AS A DONATION BY OR A LENDING OF THE CREDIT <br /> OF THE GRANTOR WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE <br /> OF NORTH CAROLINA. THIS DEED OF TRUST SHALL NOT DIRECTLY OR <br /> INDIRECTLY OR CONTINGENTLY OBLIGATE THE: GRANTOR TO MAKE ANY <br /> PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION OF THE <br /> GRANTOR FOR ANY FISCAL YEAR IN WHICH THIS DEED OF TRUST SHALL BE IN <br /> EFFECT. NO DEFICIENCY JUDGMENT MAY BE RENDERED AGAINST THE GRANTOR <br /> IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER THE <br /> CONTRACT OR THIS DEED OF TRUST AND THE TAXING POWER OF THE GRANTOR <br /> IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR <br /> CONTINGENTLY TO SECURE ANY MONEYS DUE UNDER THIS DEED OF TRUST. <br /> 4.13 Entire Agreement. This Deed of Trust, the Contract and <br /> any other loan documents contain the entire agreement among the <br /> parties relating to the subject matter hereof and thereof, and all <br /> prior agreements relative thereto which are not contained herein or <br /> therein are terminated. <br /> IN WITNESS WHEREOF, Grantor has caused this Deed of Trust to <br /> be duly executed and sealed the day and year first above written. <br /> COMOF ORANGE, NO CAROLINA <br /> By: <br /> C airman, L4 <br /> Board of Commissioners <br /> ATTEST: <br /> Clerk to oard of Co ssioners <br /> [County Seal] <br /> 14 <br />
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