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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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4/15/2016 9:26:09 AM
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BOCC
Date
4/19/2016
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
7a
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RES-2016-032 Resolution providing final approval of terms and documents for 2016 County installment financing
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\Board of County Commissioners\Resolutions\2010-2019\2016
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45 <br /> (c) Any addressee may designate additional or different addresses for <br /> communications by notice given under this Section to each of the others. The County <br /> must send copies of any notices it sends to the Deed of Trust Trustee also to the Lender. <br /> 5-2 Successors. This Deed of Trust is binding upon, will inure to the benefit of, <br /> and is enforceable by the County, the Deed of Trust Trustee and the Lender, and their <br /> respective successors and assigns. <br /> 5-3 No Marshalling. The County waives any and all rights to require <br /> marshalling of assets in connection with the exercise of any remedies provided in this <br /> Deed of Trust or as permitted by law. <br /> 5-4 Definitions. All capitalized terms used in this Deed of Trust and not <br /> otherwise defined have the meanings ascribed to them in the Financing Contract. <br /> 5-5 Governing Law; Forum. The County, the Lender and the Deed of Trust <br /> Trustee intend that North Carolina law will govern the interpretation of this Deed of <br /> Trust. To the extent permitted by law, the County, the Lender and the Deed of Trust <br /> Trustee agree that any action brought with respect to this Deed of Trust must be brought <br /> in the North Carolina General Court of Justice in Orange County, North Carolina. <br /> 5-6 Limitation of Liability of Officers and Agents. No officer, agent or <br /> employee of the County, the Lender or the Deed of Trust Trustee will be subject to any <br /> personal liability or accountability by reason of the execution of this Deed of Trust or any <br /> other documents related to the transactions contemplated by this Deed of Trust. Those <br /> officers or agents are deemed to execute documents in their official capacities only, and <br /> not in their individual capacities. This Section does not relieve any officer, agent or <br /> employee from the performance of any official duty provided by law. <br /> 5-7 Covenants Run with the Land. All covenants contained in this Deed of <br /> Trust run with the real estate encumbered by this Deed of Trust. <br /> 5-8 Further Instruments. Upon the request of the Lender or the Deed of Trust <br /> Trustee, the County will execute, acknowledge and deliver any further instruments <br /> reasonably necessary or desired by the Lender or the Deed of Trust Trustee to carry out <br /> more effectively the purposes of this Deed of Trust or any other document related to the <br /> transactions contemplated by this Deed of Trust, and to subject to the liens and security <br /> interests of this Deed of Trust all or any part of the Mortgaged Property intended to be <br /> given or conveyed, whether now given or conveyed or acquired and conveyed subsequent <br /> to the date of this Deed of Trust. <br /> 5-9 Severability. If any provision of this Deed of Trust is determined to <br /> be unenforceable, that will not affect any other provision of this Deed of Trust. <br /> 10 <br />
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