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Purchase Contract") , under which the NationsBank of North Carolina, <br /> N.A. (the "Lender") would advance funds for the acquisition, <br /> construction and equipping of the Improvements and the County would <br /> be obligated to make Installment Payments (as defined therein) to <br /> repay the funds advanced to it and to make certain other payments, <br /> among other requirements, such obligations being subject to <br /> termination by the County under certain circumstances as provided <br /> therein; <br /> (d) a draft of a Deed of Trust and Security Agreement (the <br /> "Deed of Trust") which the County would execute and deliver to a <br /> trustee for the benefit of the Lender and which would encumber the <br /> Site and the Improvements and certain related property as security <br /> for the County's obligation to repay the funds advanced to it <br /> pursuant to the Installment Purchase Contract; and <br /> (e) a draft of a lease, between the County and the Board of <br /> Education (the "Lease") , under which the County would lease the <br /> Site conveyed to it by the Board of Education and the Improvements <br /> to the Board of Education for, use by the Chapel Hill-Carrboro City <br /> Schools; now, therefore, <br /> BE IT RESOLVED by the Board of Commissioners for the County of <br /> Orange: <br /> Section 1. The Board of Commissioners for the County of <br /> Orange, North Carolina (the "Board of Commissioners") hereby finds <br /> and determines in connection with the proposed Installment Purchase <br /> Contract that (a) the proposed Installment Purchase Contract is <br /> necessary or expedient for the County, (b) the proposed Installment <br /> 4 <br />