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NationsBank, N.A. (Carolinas) Tel 919 918-4245 <br /> Commercial Banking Group Fax 919 967-3881 g <br /> P.O. Box 570 <br /> Chapel Hill, NC 27514-0570 <br /> NationsBank <br /> It November 8, 1995 <br /> r' <br /> Mr. Ken Chavious <br /> Finance Officer <br /> Orange County Finance Office <br /> P.O. Box 8181 <br /> Hillsborough, NC 27278 <br /> Dear Mr. Chavious: <br /> NationsBank of North Carolina, N.A. ("Bank") is pleased to provide a financing <br /> commitment to Orange County ("Borrower") pursuant to the Installment Financing <br /> Proposal dated October 11, 1995. Terms and conditions are as follows: <br /> BORROWER: Orange County, North Carolina. <br /> PURPOSE: To provide financing for construction of an addition to the <br /> County Jail and Courthouse and a new Human Services <br /> Center. <br /> TYPE OF FACILITY: A term loan to be fully funded at closing <br /> r, <br /> AMOUNT: Up to $2,000,000.00. <br /> INTEREST RATE: The Borrower will have the choice of the following interest rate <br /> options: <br /> 15 Year Amortization 4.40% (Exhibit A) <br /> 10 Year Amortization 4.35% (Exhibit B) <br /> For any interest rate option, interest will be calculated on the basis of the 365/365 day <br /> method. <br /> USA <br /> J 0" <br /> Official Sponsor <br /> 1994/1996 Member FDIC <br />