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No. R-1 $200,000 23Q <br /> REGISTERED BOND WITHOUT COUPONS <br /> (Registered as to both principal and interest) <br /> United States of America <br /> State of North Carolina <br /> COUNTY OF ORANGE <br /> Sanitary Sewer Bond <br /> The County of Orange, in the State of North Carolina, is <br /> justly indebted and for value received hereby promises to pay to <br /> the <br /> UNITED STATES OF AMERICA <br /> FARMERS HOME ADMINISTRATION <br /> or registered assigns or legal representative the principal sum <br /> of <br /> TWO HUNDRED THOUSAND DOLLARS <br /> in annual installments on the 1st day of June in the following <br /> years and amounts: <br /> Year of Principal Year of Principal <br /> Maturity Amount Maturity Amount <br /> 1990 $ 2,000 2009 $ 5,500 <br /> 1991 2,000 2010 6, 000 <br /> 1992 2,000 2011 6,000 <br /> 1993 2,000 2012 6, 500 <br /> 1994 2,000 2013 7, 000 <br /> 1995 2,000 2014 <br /> 7,500 <br /> 1996 <br /> 2,500 2015 8, 000 <br /> 1997 2,500 2016 8,000 <br /> 1998 3,000 2017 8,000 <br /> 1999 3,000 2018 8,000 <br /> 2000 3,000 2019 8,000 <br /> 2001 3,500 2020 8,000 <br /> 2002 3,500 2021 8,000 <br /> 2003 4,000 2022 8,000 :____ . <br /> 2004 4,000 2023 8,000 w <br /> 2005 4,000 2024 8,000 <br /> 2006 4,500 2025 8,000 <br /> 2007 5,000 2026 8,000 <br /> 2008 5, 000 2027 6,000 <br /> and to pay interest from the date hereof on the unpaid part of <br /> such principal sum at the rate of six and three hundred seventy- <br /> five one thousandths per centum (6.375%) per annum until payment <br /> thereof, such interest to the maturity hereof being payable on <br /> June 1, 1988 and annually thereafter on June 1 in each year. The <br /> -18- <br /> BROWN 9 WOOD.ONE WORLD TRADE CENTER.NEW YORK.N.Y.10045 <br />