Agenda - 02-04-1980 - Laserfiche WebLink

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w rK additions thereto or omissions therefrom. Section 3. The Authority hereby approves the form of the Company's pro:aissory note, dated as of the date of the issuance of the .Bond (the "Note"), presented to the hoard at this meeting in the form attached as Exhibit A to the Loan Agreement . The Authority hereby authorizes the endorse- ir-.gnt without rec -)urse, in substantially the form of the ndorsement appearing on the Form of the Rote, to the Purahaser, as security for the Bond. Sectiori 4. The Authority hereby approves the Seiarity Agreement, elated as of January 1, 1980, from the Company to the Authority, in the form of that which has been presented to this Board at this meeting, and the Chairman or tl e Vftc,- Chairman and the Secretary or any Assistant Secretary of the Authority are hereby authorized to execute and deliver the Security Agreement, in any number of signed counterparts, for and on behalf of the Authority in substantially such fore with such changes therein, additions thereto and omissionsr therefrom as those axecuti-ig the Security Agreement shall approve, uheir execution and delivery thereof constituting the conclusive approval of the Authority of any changes therein or addi,•i.ons thereto or omissions therefrom. Section 5. The Authority hereby approves the fo2m of the Deed of 'Trust, dated as of January 1, 1,980 (the "Deed of Trust"), from the Company to John G. Geist, Trustee, for the benefit of the Authority, presented to the Board at this meeting. Section b. For the purpose of providing funds fc,r paying the cost of the acquisition, construction and in- stallation of a plant to be used for the manufacture of nameplates and other speciality items in Orange County, the site thereof and equipment therefor (the building, site and equipment being hereinafter referred to collectively as the "P.roJect") , the issuance of a revenue bond of the Authority pursuant to Section 9 of Article v of the Constituti.c: of North Carolina, as amended, in the principal amount cr TSV-i Million Dollars ($2,000,000) is hereby authorized. Said bond shall be designated "The Orange County Industrial Fa.illi- ties and Pollution Control Financing Authority Revenu° Bond (W.H. Brady Co. Project)" (hereinafter referred to as the "Bond"), and the Bond shall, be in the form and denomi.nati-in and have the terms and provisions of that which has b:ien pre- sented to the Board at this meeting, and the Chairman or the Vice Chairman and the Secretary or the Assistant Secretary of the Authority and hereby authorizes to execute and deliver -3-