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39 <br /> obligations, that may be secured by this Agreement at any one time is $25,000,000. The <br /> period within which future obligations may be incurred is 30 years from May 1, 2016. <br /> The provisions in this Deed of Trust for future advances are made only to facilitate <br /> possible future financings as provided for under the Trust Agreement. As of the date of <br /> this Deed of Trust there is no agreement or obligation by the County to borrow, or for any <br /> person to lend, any additional funds beyond the $8,150,000 that constitutes the present <br /> obligations. <br /> 1-4 Security Interest in Fixtures. This Deed of Trust is intended to be a <br /> security agreement pursuant to the Uniform Commercial Code as in effect in North <br /> Carolina for the "Fixtures," as defined below. The County grants to the Lender and the <br /> Deed of Trust Trustee a security interest in the Fixtures to secure the Obligations. <br /> The County agrees to execute, deliver and file, or cause to be filed, in such place <br /> or places as may be requested by the Lender or the Deed of Trust Trustee, financing <br /> statements (including any continuation statements) in such form as either party may <br /> reasonably request to evidence the security interest provided for in this Section. Upon <br /> the occurrence of an Event of Default under this Deed of Trust or the Financing Contract, <br /> the Lender or the Deed of Trust Trustee is entitled to exercise all rights and remedies of a <br /> secured party under the Uniform Commercial Code as in effect in North Carolina and <br /> may proceed as to the Fixtures in the same manner as provided in this Deed of Trust for <br /> the real property. <br /> The "Fixtures" are all items of personal property attached or affixed to the Pledged <br /> Facilities in such a manner that removing the items would cause damage to the Pledged <br /> Facilities. The Fixtures may include plumbing, heating, lighting, electrical, laundry, <br /> ventilating, refrigerating, incinerating, air-conditioning, fire and theft protection and <br /> sprinkler equipment, including all renewals and replacements thereof and all additions <br /> thereto, and all articles in substitution thereof, and all proceeds of all the foregoing in <br /> whatever form. <br /> The County is not obliged to renew, repair or replace any undesirable or <br /> unnecessary Fixture. If the County determines that any Fixture has become undesirable or <br /> unnecessary, the County may remove that Fixture from the Pledged Facilities and sell, <br /> trade-in, exchange or otherwise dispose of it (as a whole or in part), with an amount <br /> equivalent to the fair market value of the Fixture as removed becoming Net Proceeds and <br /> subject to the provisions of Section 6.2 of the Financing Contract. <br /> With respect to those items of the Mortgaged Property that are or are to become <br /> Fixtures, this Deed of Trust constitutes a financing statement filed as a fixture filing. The <br /> County agrees that the security interest in the Fixtures granted in this Section 1-4 is in <br /> addition to, and not in lieu of, any security interest in the Fixtures acquired by real <br /> property law. The fixtures are located on the land described on Exhibit A, and the County <br /> 4 <br />