Orange County NC Website
N <br />execute and deliver the Loan Documents and, with Buyer's consent and <br />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; and <br />(b) such other documents as are reasonable and <br />necessary in connection with the Permanent Lender's loan. <br />7. Request Notice. At closing of each Town sale of a <br />Low - income House, the Town shall execute and record at the orange <br />County Register of Deed' s of f ice 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. The Town shall execute <br />and deliver such ordinary and customary closing documents as are <br />reasonably necessary to give effect to the terms of this Agreement and <br />as are required in connection with Permanent Lender's loan. <br />D. Permitted V lue Calculations. At each resale of a <br />Low - income House, the Town shall review any improvements made to said <br />Low - income House to determine their propriety and Permitted Value as <br />described and defined in the Shared Equity Agreement. <br />E. Marketing. The Administrator shall market the resales <br />of Low- income Houses by preparing advertising or marketing materials <br />necessary or convenient for the resale of the Low- income Houses to <br />Low- and /or Very Low- income Persons, as applicable. <br />VIII. Trust. After the first resale of any Low-- income House and <br />in the event that all of the Town's funds described in this Agreement <br />and earmarked for loans to any subsequent Buyer(s) are not then being <br />- 24 - <br />