Agenda - 05-15-1990 (2) - Laserfiche WebLink

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COLEMAN, BERNHOLZ, BERNHOLZ, GLEDHILL & HARGRAVE ATTORNEYS AT LAW 129 E. TRYON STREET P.O. DRAWER 1529 HILLSBOROUGH, NC 27278 919- 732 -2196 919- 942 -8000 July 12, 1990 FAX 919 -732 -7997 RECEIVED AUG fi '90 CHAPEL HILL OFFICE SUITE 300, THE CENTER 1506 E. FRANKLIN STREET First Wachovia Leasing Corporation CHAPEL HILL, NC 27514 919 - 929 -7151 Post Office Box 3099 FAX 919- 929 -3892 Winston - Salem, North Carolina 27150 ALONZO B. COLEMAN, JR. STEVEN A. BERNHOLZ Gentlemen: ROGER B. BERNHOLZ GEOFFREY E. GLEDHILL DOUGLAS HARGRAVE Our law firm serves as general counsel to Orange G. NICHOLAS HERMAN KIM K. STEFFAN County, North Carolina. I have examined and reviewed MARL wEE.TER EI the lease and related documents which pertain to the JOE TERRY G. HARN equipment to be financed by First Wachovia Leasing JANET B. DUTTON Corporation (Lessor) . It is my opinion and belief Of Counsel that: BONNER D. SAWYER (1902 - 1972) 1. The Lessee is a body politic and corporate of the State of North Carolina. 2. The Lessee has the authority and "is empowered to enter into the Lease and perform in accordance with its terms, except as to any provision which may subsequently be declared not to be binding upon a North Carolina local government. 3. Except as to any provision which may subsequently be declared not to be binding upon a North Carolina local government, the lease constitutes a legal, valid, and binding obligation of the Lessee and Moses Carey, Jr., Chairman, Orange County Board of Commissioners, has been duly authorized to execute the lease on behalf of the Lessee. The enforceability of the obligation(s) of Lessee may, however, be limited by general equitable principles, debtor's rights and moratoria under applicable statutes including but not limited to the United States Bankruptcy Code. GEG /lsg Very truly yours, COLEMAN, BERNHOLZ, 2LEDHIL & HARGRAVE W