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49 <br /> Attachment 4 <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 /> STATE OF ) <br /> NORTH CAROLINA ) <br /> LEASE <br /> ORANGE COUNTY ) <br /> Orange County PIN <br /> Brief description: Grady Brown Elementary School <br /> THIS LEASE is dated as of May 1, 2016, and is entered into by and between <br /> ORANGE COUNTY, NORTH CAROLINA, as lessor (the "County"), and THE <br /> ORANGE COUNTY BOARD OF EDUCATION, as lessee (the "School Board"). <br /> WITNESSETH: <br /> The County and the School Board have previously agreed to cooperate in a plan to <br /> carry out capital improvements for public schools, including the installation of new roofs <br /> (the "Project") for Grady Brown Elementary School ("Grady Brown"). <br /> The County has entered into an Installment Financing Contract dated as of May 1, <br /> 2016 (the "Financing Contract"), to provide funds for the Project. The County has granted a <br /> Deed of Trust and Security Agreement, also dated as of May 1, 2016 (the "Deed of Trust"), <br /> to secure the County's repayment obligations under the Financing Contract. <br /> The County proposes to lease Grady Brown and its associated real property, as <br /> described on Exhibit A (the "Site"), to the School Board, so that the School Board can <br /> continue to operate Grady Brown, both during the Project period and then throughout the <br /> County's financing term. The School Board has determined to accept this lease. <br />