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• Coun ty is not responsible for sending notices of redemption to anyone other than DTC or <br /> its nominee. <br /> If(a)DTC determines not to continue to act as securities depository for the Bonds <br /> or(b)the County so elects,the County will discontinue the book-entry system with DTC. <br /> If the County fails to identify another qualified securities depository to replace DTC, the <br /> County will deliver replacement Bonds in the form of fully-registered certificates. <br /> The County's Finance Officer has been appointed Registrar for the Bonds. As <br /> Registrar, the Finance Officer will maintain appropriate books and records indicating <br /> ownership of the Bonds. The County will treat the registered owner of this Bond as the <br /> person exclusively entitled to payment of principal and interest and the exercise of all <br /> other rights and powers of the owner, except that interest payments will be made to the <br /> person shown as owner on the County's registration books at the end of the day on the <br /> 15th day of the month preceding each interest payment date (whether or not such 15th day <br /> is a business day). <br /> The County has designated the Bonds as "qualified tax-exempt obligations" for <br /> the purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. <br /> • The Bonds are issued with the intent that North Carolina law will govern their <br /> terms. <br /> All acts, conditions and things required by the Constitution and laws of the State <br /> of North Carolina to happen, exist or be performed precedent to and in the issuance of <br /> this Bond have happened, exist and have been performed, and the issue of Bonds of <br /> which this Bond is one, together with all other indebtedness of the County, is within <br /> every debt and other limit prescribed by the Constitution and laws of the State of North <br /> Carolina. <br /> IN WITNESS WHEREOF, Orange County, North Carolina,has caused this Bond <br /> to signed by the Chair of its Board of Commissioners,to be countersigned by the Clerk to <br /> such Board, the County's seal to be affixed hereto and this Bond to be dated , <br /> 2010. <br /> COUNTERSIGNED: (SEAL) <br /> [Sample only-do not signl Sample only-do not signl <br /> Clerk, Board of Commissioners Chair,Board of Commissioners <br />• Orange County,North Carolina Orange County,North Carolina <br /> 9 <br />