Orange County NC Website
Exhibit B -- Draft Documents <br /> (a) A draft dated October 2, 2017, of a Supplemental Installment Financing Contract <br /> to be dated on or about November 1, 2017 (the "Financing Contract"), between the County and <br /> Orange County Public Facilities Company (the "Company), providing for the advance of funds <br /> to the County, for the County's obligation to repay the amounts advanced, and for the County's <br /> responsibilities for the use and care of the collateral. <br /> (b) A draft dated October 2, 2017, of a Deed of Trust and Security Agreement to be <br /> dated on or about November 1, 2017, from the County to a deed of trust trustee for the <br /> Company's benefit, providing for a security interest in property to secure the County's <br /> obligations under the Financing Contract. The County expects the security will consist of Morris <br /> Grove Elementary School and the County office building on West Margaret Lane in <br /> Hillsborough. <br /> (c) A draft dated October 2, 2017, of a First Supplemental Trust Agreement to be <br /> dated on or about November 1, 2017, between the Company and a Trustee, providing for the <br /> issuance of limited obligation bonds to generate funds for the advance to the County under the <br /> Financing Contract. The bonds are payable from amounts paid by the County under the <br /> Financing Contract. <br /> (d) A draft dated October 2, 2017, of an Escrow Agreement to be dated on or about <br /> November 1, 2017, between the County and the Trustee, providing for the safekeeping and <br /> investment of bond proceeds until the proceeds can be applied to the payment of existing <br /> obligations. <br /> (e) A draft of a Bond Purchase Agreement to be dated on or about November 2, <br /> 2017, providing for the underwriter's obligation to purchase the bonds. The final form of this <br /> Agreement will set out the final principal amount, principal payment schedule and interest rates <br /> for the bonds, and the other terms and conditions for the underwriter's obligation to purchase the <br /> bonds. <br /> 6 <br />