Orange County NC Website
X5 <br />a separate note and deed of trust, said note being payable with <br />interest as described in the note in Exhibit G (i.e., Loan Documents). <br />6. Other Lenders' Forms. At closing of the first <br />sale of each Low- income House, the parties intend that each Buyer <br />shall execute and deliver the Loan Documents and, with Buyer's consent <br />and if applicable, these loan documents: <br />(a) a promissory note secured by the Permanent <br />Lender's Lien in an amount equal to the loan provided to the Buyer by <br />the Permanent Lender, said amount being contemplated to be at least <br />�)roximately $77,500.00 for 15 Buyers and $70,000.00 for 15 Buyers; <br />(b) a promissory note secured by a NCHFA Deed of <br />Trust which shall be a third lien on the Buyer's Low- income House <br />(this loan is contemplated, but not required, to be for those Buyers <br />t <br />who obtain their First Mortgage Loan using NCHFA first mortgage <br />funds); and <br />(c) such other documents as are reasonable and <br />necessary in connection with the Permanent Lender's and NCHFA's said <br />loans and mortgage certificates, said documents to be in forms <br />materially similar to those shown on Exhibits I, J, and K. <br />7. Request Notice. At closing of sale of each <br />Low - income House, the Town shall execute and record at the Orange <br />County Register of Deed's office a request notice for sale under any <br />Permanent Lender's Lien in a form materially similar to Exhibit L <br />attached to, and incorporated into, this Agreement. <br />8. Miscellaneous Documents. At closing of the first <br />sale of each Low- income House, the Town and the Corporation shall <br />execute and deliver such ordinary and customary closing documents as <br />- 16 - <br />