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<br />STATE OF NORTH CAROLINA RESOLUTION TO ACQUIRE
<br />REAL PROPERTY/ COUNTY
<br />COUNTY OF ORANGE
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<br />WHEREAS, North Carolina General Statutes § 122C 147 provrdes-that the
<br />authority to hold title to real property and the authority to"acquire the same may be
<br />held by an area mental health, development disabilities and siabsfance abuse
<br />authority, upon the consent of the boards of county comrnissianers of all counties
<br />which comprise the authority; and ~.
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<br />WHEREAS, North Carolina General Statutes § F122C;147(c);further provides this
<br />consent shall be ratified by resolution of each.' affected board of county commissioners
<br />and may specify any necessary or proper conditionsCfo~r'the consent;; including, but
<br />not limited to, provisions for~distnbution of~Ch~ proceeds in the evelrt of disposition of
<br />the property by an•area authority,,%a,rd ~ `_ ,. (; ` .x
<br />WHEREAS, the Area Board of Orange-Verson Chatham Mental Health,
<br />Developmental Disa~bilii`ries and Substano"e Afius~, Services (hereinafter referred to as
<br />"OPC") at a Board Meeting h~ld an f , 2006, adopted a motion to
<br />accept a proposed conveyan, e of title ofi,a tract or parcel of land situated in Orange
<br />and Person Courtier, f~`orth Garolin`a;-(fiereinafter referred to as "the Properties")
<br />mare particularly, described in,Deed~Book ~, Page _ in the Orange County
<br />Registry and in Deed Soo`k ~=-'' ,Page of the Chatham County Registry, said
<br />description being attached as Exhibits A and B and incorporated herein by reference,
<br />and 1:.=,:,:,`
<br />WHEREAS'`OPC desires to enter into a Financing Agreement by and between
<br />OPC and Wachovia Bank, N.A., a North Carolina banking corporation, that provides
<br />for, inter ilia, a conveyance by OPC of the Property as described in Exhibits A and B
<br />attached hereto, to a Trustee for Wachovia Bank, N.A., as security far a loan in the
<br />arnaunt of Four Hundred Twenty- One Thousand Dollars ($421,000.00); and
<br />WHEREAS, the payments required to repay the advance made pursuant to the
<br />Financing Agreement call for an amortization period of approximately fifteen (15)
<br />years, payments are quarterly in arrears in the amount of $7,016.66, and a portion of
<br />each payment is paid as and represents payment of interest at an annual interest rate
<br />of 4.89%; and
<br />WHEREAS, OPC , at an Area Board Meeting held on ,
<br />2006, adopted a motion (a copy of which is attached hereto as Exhibits A and B and
<br />incorporated herein by reference) recommending to the respective Boards of
<br />Commissioners of Orange, Person and Chatham Counties that in the event of
<br />disposition by OPC of the real property hereinabove referred to, any and all proceeds
<br />shall be used by OPC for purposes authorized under Article 4 of Chapter 122C of the
<br />General Statutes of North Carolina, or in the event of dissolution of OPC ,any and all
<br />proceeds from the disposition of the real property hereinabove referred to shall be
<br />distributed to and among Orange, Person and Chatham Counties according to the
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