Orange County NC Website
or professional design or surveying services, or material furnished <br /> pursuant to any contract with respect to the Project, including, <br /> without limitation, certificates by the County' s architect or <br /> engineer as to the costs incurred, with copies of invoices paid or <br /> to be paid by the County with the �t Financing Proceeds. <br /> SECTION 6. PROJECT <br /> 6.1 Title. The County has good and valid title to the <br /> Proper, free and clear of any liens, claims or security interests <br /> of any party whatsoever, other than the Permitted Encumbrances . <br /> 6.2 Availability of Utilities. All utility services <br /> necessary for the construction of the Project and the operation <br /> thereof for their intended purpose are presently available, or will <br /> be available when needed, through presently existing public or <br /> unencumbered private easements or rights-of-way (which, in the case <br /> of the Property, would inure to the benefit of Lender or other <br /> purchaser of the Proms e®rty in the event of the foreclosure of or <br /> sale under the power contained in the Deed of Trust) at the <br /> boundaries of the Project, including but not limited to, water <br /> supply, storm and sanitary sewer, electric and telephone <br /> facilities. <br /> 6.3 Security Agreement. To secure all obligations of the <br /> County hereunder, the County hereby grants to the Lender a security <br /> interest in any and all of the County' s right, title and interest <br /> in and to any fixtures incorporated, or to be incorporated, or used <br /> in connection with the operation of, the Project, and all <br /> substitutions and replacements thereto, and any and all proceeds <br /> thereof, including without limitation, the proceeds of insurance <br /> thereon. The County agrees to execute and deliver all documents <br /> and instruments necessary or appropriate to perfect or maintain the <br /> security interest granted hereby and to maintain the Lender' s <br /> security interest in the collateral described in this Section 6 .3 . <br /> The County may install on or locate in the Project any personal <br /> property and, to the extent that such personal property does not <br /> constitute a fixture, the Lender shall have no security interest <br /> therein. <br /> 6 .4 Assignment of Leases. To further secure all obligations <br /> of the County hereunder, the County hereby grants, conveys, <br /> transfers and assigns to the Lender, and grants to the Lender a <br /> security interest in, all of the County's right, title, and <br /> interest in and to any lease or leases now existing or hereafter <br /> made for all or any part of the Prop e!, together with all <br /> rents, income, profits, revenues, proceeds, and royalties due and <br /> becoming due therefrom. The County agrees to execute and deliver <br /> all documents, instruments and financing statements necessary or <br /> appropriate to perfect or maintain the security interest granted <br /> hereby. <br /> J 11 <br />