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<br />percentage that the population of each county bears to the total population of the <br />combined said three (3) counties. <br />NOW, THEREFORE, BE IT RESOLVED, that the Orange County, Board of <br />Commissioners hereby authorizes OPC to acquire the real property hereinabove <br />referred to and to hold title to the same, by entering into a Financ7ng Agreement with <br />Wachovia Bank, N.A, that provides for a conveyance byrOPC`ofthe real property <br />hereinabove referred to, to a Trustee for Wachovia Bak, N Al as `security for a loan <br />in the amount of Four Hundred Twenty- One Thousand Dollars ($21,000.00), with <br />~ . ~ ,r... <br />the payments being required to repay the adGance calling for an amortization period <br />of approximately fifteen (15) years and quetterly pay mentsnin arrears in the amount <br />of $7,016.66, with a portion of each payment `repres~nting ;paymentof interest at an <br />annual interest rate of 4 89% and = - ' ` ' <br />k ' ~ y h iy f <br />~r, ~ ~ ~ <br />BE IT FURTHER RESOLVED, 'hat mlthe went ~Of disposition of'the real property <br />herein referred to~b~%OPC, a~~y an~°ail'proceeds shah iie used by bPC for purposes <br />authorized under Article 4~of~C~h'apter 122C of the Genetal Statutes of North Carolina, <br />or in the event of dissolution,of OPC, an~ and, al] proceeds from the disposition of real <br />p s I G~ r :,.~~ ~ <br />property heremaboVe r ferredtoshal! be distnt~ufied'to and among Orange, Person <br />~s ~ a r ~ i ~ ~.;° <br />and Chatham Countlies cCOrdmg to the percentage of the combined population of <br />said three (3) co,~un~ies~ ~,~ _°~ 4 ~,~ ,,> <br />IN WITN <br />Commissioners <br />e undersigned Orange County Board of <br />is Resolution to be effective as of the day of <br />Orange County Board of Commissioners <br />By: <br />(Chairperson) <br />ATi'EST: <br />Clerk of Board <br />(SEAL) <br />61 <br />