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Agenda - 11-13-2018 8-e - Nonprofit Capital Funding Loan Agreement
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Agenda - 11-13-2018 8-e - Nonprofit Capital Funding Loan Agreement
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11/8/2018 2:04:34 PM
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BOCC
Date
11/13/2018
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8-e
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Agenda - 11-13-2018 Regular Board Meeting
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\Board of County Commissioners\BOCC Agendas\2010's\2018\Agenda - 11-13-2018 Regular Meeting
Minutes 11-13-2018
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\Board of County Commissioners\Minutes - Approved\2010's\2018
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36 <br /> I' <br /> Prepared by and return after recording to: <br /> John Roberts <br /> Orange County Attorney's Office <br /> 200 S. Cameron Street <br /> P.O. Box 8181 <br /> Hillsborough, NC 2 72 78 <br /> STATE OF NORTH CAROLINA ) The collateral is or includes fixtures. <br /> Exhibit D <br /> ORANGE COUNTY ) Deed of Trust <br /> I <br /> i <br /> THIS DEED OF TRUST AND SECURITY AGREEMENT (this "Deed of Trust") is <br /> dated as of December , 201_, and is granted by , residents of Orange County, <br /> North Carolina (referred to interchangeably herein as the "Property Owners" and "Grantors"), to <br /> Gary Donaldson, (the 'Deed of Trust Trustee"), for the benefit of ORANGE COUNTY, a North <br /> Carolina local government(the "County' <br /> RECITALS: <br /> The County is advancing $ ,000 to , NONPROFIT <br /> CORPORATION, a North Carolina Limited Liability Company, (the <br /> NONPROFIT CORPORATION") owned and operated by the <br /> Property Owner, pursuant to a Loan and Security Agreement and Promissory Note dated of even <br /> date herewith (collectively the "Loan Documents"), by and between the Property Owner, <br /> NONPROFIT CORPORATION, and the Company. The <br /> Property Owner will use these funds, together with other available funds, to further expand the j <br /> business of ,NONPROFIT CORPORATION. <br /> As a condition to entering into the Loan Documents, the Company has required the <br /> Property Owner to secure , NONPROFIT CORPORATION's <br /> obligations under the Loan Documents by this conveyance of the "Mortgaged Property," as <br /> defined in Exhibit A. <br /> i <br /> 1 <br /> i <br /> i <br /> I <br />
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