Orange County NC Website
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