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Agenda - 01-24-2005-5i
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Agenda - 01-24-2005-5i
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Last modified
9/2/2008 12:05:31 AM
Creation date
8/29/2008 10:00:23 AM
Metadata
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Template:
BOCC
Date
1/24/2005
Document Type
Agenda
Agenda Item
5i
Document Relationships
2005 NS Finance - Refinancing BB&T Installment Purchase Agreements
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2005
Minutes - 20050124
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2005
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I <br />EXHIBIT A-1 <br />Revised Payment Schedule to Financing Agreement and Deed of Trust dated as of <br />December 1, 1996, and subsequent Modification Agreements dated as of March 1, 1997, <br />and June 1, 1998, respectively (together, the "Original Agreement"), granted by Orange <br />County, North Carolina for the benefit of BB&T. <br />[Replaces Exhibit X-11 <br />Dated as of`. February 1, 2005 Account Number: 003-1523500-005 <br />This Payment Schedule is issued pursuant to a Modification Agreement dated as of <br />February 1, 2005 (the "Modification Agreement'). The Modification Agreement, among other <br />things, modifies and amends the Original Agreement. All terms used in this Payment Schedule <br />have the meanings ascribed to them in the Original Agreement. <br />The payments required to repay the outstanding principal balance of the advance made <br />pursuant to the Original Agreement (which amount is $2,921,776.18) call for remaining <br />amortization period of approximately seven (7) years. Payments are semi-annual in arrears in the <br />amount of'$236,116.05. A portion of each payment is paid as and represents payment of interest <br />at an annual interest rate of 3.69%. <br />Payments are due beginning on August 1, 2005, and semi-annually thereafter, with a final <br />payment of all outstanding principal and accrued and unpaid interest due on December 20, 2011, <br />all as set forth in the attached amortization schedule, <br />5
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