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36 <br /> Attachment 3 <br /> S*H draft of April 4 <br /> Prepared by and return after recording to: <br /> Robert M. Jessup Jr. <br /> Sanford Holshouser LLP <br /> 209 Lloyd St., Suite 350 <br /> Carrboro, NC 27510 <br /> Orange County PIN: 9863277482 <br /> STATE OF NORTH CAROLINA ) The collateral is or includes fixtures. <br /> ORANGE COUNTY ) This Deed of Trust secures <br /> future advances. <br /> Brief description: Grady Brown School, 1100 New Grady Brown School Road, <br /> Hillsborough NC 27278 <br /> THIS DEED OF TRUST AND SECURITY AGREEMENT (this "Deed of <br /> Trust") is dated as of May 1, 2016, and is granted by ORANGE COUNTY, NORTH <br /> CAROLINA, a political subdivision of the State of North Carolina (the "County"), to <br /> , as trustee (the "Deed of Trust Trustee"), for the benefit of FIRST <br /> BANK(the "Lender"). <br /> RECITALS: <br /> The Lender is advancing $8,150,000 to the County pursuant to an Installment <br /> Financing Contract dated as of May 1, 2016 (the "Financing Contract"), between the <br /> County and the Lender. The County will use these funds, together with other available <br /> funds, to carry out a plan to acquire, construct and improve various public facilities and <br /> improvements, as well as to pay financing costs. <br /> As a condition to entering into the Financing Contract, the Lender requires the <br /> County to secure its obligations under the Financing Contract by this conveyance of <br /> Grady Brown School and its related real property, as described in Exhibit A, and the <br /> other "Mortgaged Property," as defined below. <br />