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• <br /> • . - First Union National Bank 2 <br /> of North Carolina <br /> • First Union Plaza <br /> Charlotte,North Carolina 28288 <br /> FON <br /> May 9, 1989 <br /> Mr. Ken Chavius <br /> Finance Department <br /> Orange County <br /> 109 Orange Street - <br /> Hillsborough, NC 27278 - <br /> Dear Ken: <br /> On behalf of First Union National Bank, please accept my thanks for the <br /> opportunity to submit a proposal that demonstrates our effort to assist Orange <br /> County in its acquisition of computer hardware. First Union is actively <br /> interested in supporting the County in this endeavor, and as such, we are well <br /> prepared to help you meet your needs. <br /> The rate and payment factor contained within our proposal is effective for <br /> fundings accomplished within the next thirty days. Upon your acceptance of <br /> our proposal and final credit approval, we will issue a commitment on the rate <br /> and terms established therein. To the extent that interest rates are stable, <br /> we will endeavor to hold the identified rate and payment factor beyond thirty <br /> days if a commitment cannot be made prior to the proposal expiration date. <br /> Thanks again, Ken, for your time and consideration in this matter. As you <br /> review our proposal, don't hesitate to contact me should you have any <br /> questions. I look forward to hearing from you soon. <br /> Sincere! , <br /> P. Scott Nagelson <br /> Assistant Vice President <br /> Public Finance <br /> 1p <br /> • <br />