Orange County NC Website
19 <br />Exhibit B -- Draft Documents <br />(a) A draft dated April 30, 2015, of an Installment Financing Contract to be <br />dated on or about June 1, 2015 (the "Financing Contract "), between the County and <br />Orange County Public Facilities Company (the "Company), providing for the advance of <br />funds to the County, for the County's obligation to repay the amounts advanced, and for <br />the County's responsibilities for the use and care of the collateral. <br />(b) A draft dated April 30, 2015, of a Deed of Trust and Security Agreement to <br />be dated on or about June 1, 2015, from the County to a deed of trust trustee for the <br />Company's benefit, providing for a security interest in the Gravelly Hill Middle School <br />property to secure the County's obligations under the Financing Contract. <br />(c) A draft dated April 30, 2015, of a Trust Agreement to be dated on or about <br />June 1, 2015, between the Company and a Trustee, providing for the issuance of limited <br />obligation bonds to generate funds for the advance to the County under the Financing <br />Contract. The bonds are payable from amounts paid by the County under the Financing <br />Contract. <br />(d) A draft dated April 30, 2015, of an Escrow Agreement to be dated on or <br />about June 1, 2015, between the County and the Trustee, providing for the safekeeping <br />and investment of bond proceeds until the proceeds can be applied to the payment of <br />existing obligations. <br />(e) A draft of a Bond Purchase Agreement to be dated on or about June 15, <br />2015, providing for the underwriter's obligation to purchase the bonds. The final form of <br />this Agreement will set out the final principal amount, principal payment schedule and <br />interest rates for the bonds, and the other terms and conditions for the underwriter's <br />obligation to purchase the bonds. <br />5 <br />