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REGISTERED <br />Number R -X <br />EXHIBIT A - Form of Bonds <br />UNITED STATES OF AMERICA <br />STATE OF NORTH CAROLINA <br />ORANGE COUNTY <br />General Obligation School Bond, Series 2018 <br />REGISTERED <br />INTEREST RATE <br />MATURITY DATE <br />DATED DATE <br />CUSIP <br />% <br />August 1, <br />July 12, 2018 <br />684 609 XXX <br />REGISTERED OWNER: ** ***CEDE & CO. * * * ** <br />PRINCIPAL AMOUNT: * * ** THOUSAND DOLLARS <br />($ ,000) * ** <br />ORANGE COUNTY, NORTH CAROLINA (the "County"), for value received, <br />promises to pay to the registered owner of this Bond, or registered assigns or legal <br />representative, the principal amount stated above on the maturity date stated above, subject to <br />prior redemption as described below, and to pay interest on this Bond semiannually on each <br />August 1 and February 1, beginning February 1, 2019, at the annual rate stated above (calculated <br />on the basis of a 360 -day year consisting of twelve 30 -day months). Interest is payable (a) from <br />the dated date stated above, if this Bond is authenticated prior to February 1, 2019, or (b) <br />otherwise from the February 1 or August 1 that is, or immediately precedes, the date on which <br />this Bond is authenticated (unless payment of interest on this Bond is in default, in which case <br />this Bond will bear interest from the date to which interest has been paid). <br />This Bond is. one of an issue of the County's $64,400,000 General Obligation School <br />Bonds, Series 2018 (the "Bonds "), of like date and tenor, except as to number, denomination, <br />rate of interest, privilege of redemption and maturity. The Bonds are issued pursuant to a <br />resolution adopted by the County's governing Board of Commissioners on June 5, 2018, and the <br />Constitution and laws of the State of North Carolina, including the Local Government Bond Act. <br />