Orange County NC Website
Browse       Search
TOTAL 8,150,000 <br /> Exhibit B--Draft Agreements <br /> (a) A draft dated April 4, 2016, of an Installment Financing Contract to be dated on or <br /> about May 1, 2016 (the "Financing Contract"), between the County and the Bank, providing for the <br /> advance of funds to the County for the County's undertaking of the project, setting out the County's <br /> repayment obligation and setting out the County's obligations regarding care for the collateral and <br /> other matters. <br /> (b) A draft dated April 4, 2016, of a Deed of Trust and Security Agreement to be dated <br /> on or about May 1,2016,from the County to a deed of trust trustee for the Bank's benefit,providing <br /> for a security interest in the Grady Brown School and its associated real property to secure the <br /> County's repayment obligation. <br /> (c) A draft dated April 4, 2016, of a Lease to be dated on or about May 1, 2016, from the <br /> County to The Orange County Board of Education (the "School Board"), providing for the School <br /> Board's continued use of the Grady Brown School property during the financing term. <br /> (d) A draft dated April 4, 2016, of a Project Completion and Agency Agreement to be <br /> dated on or about May 1, 2016, between the County and the School Board, setting out their <br /> respective responsibilities for carrying out the acquisition and construction of the planned <br /> improvements to Grady Brown School. <br /> NOW THEREFORE BE IT ORDAINED by the Board of Orange County Commissioners that <br /> this resolution is effective up approval. Upon motion of Commissioner) <br /> seconded by mmissioner -� the foregoing resolution was adopted this the <br /> Jfday of 2016. <br /> I, Ann/aS. Baker, Clerk to the Board of Commissioners for the County of Orange, <br /> North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the <br /> proceedings of said Board at a meeting held on 2016, as relates in any way <br /> to the adoption of the foregoing and that said pro eeding are recorded in Minu Book No. <br /> of the minutes of said Board. <br /> WITNESS my hand and the seal of said County,the Albay of 016. <br /> 4 # <br /> �S�a9 a Donna S.Baker <br /> * lerk to the BoardS E A L <br /> 17 52 <br /> °`�4 (tusa�ti�s <br />