Orange County NC Website
Browse       Search
fo <br />Resolution Approving Terms of Re-financing <br />WHEREAS, Orange County, North Carolina (the "County") has <br />determined to change the terms of the Payment Schedule to that Financing <br />Agreement and Deed of Trust granted to F. Louis Loyd, III (the "Deed of Trust <br />Trustee") for the benefit of Branch Banking and Trust Company, successor to <br />and assignee of BB&T Leasing Corporation ("BB&T") dated as of December 1, <br />1996, and recorded in Book 1536, Page 459, Orange County Registry; and those <br />subsequent Modification Agreements dated as of March 1, 1997, and recorded <br />at Book 1564, Page 163, Orange County Registry, and dated as of June 1, 1998 <br />and recorded at Book 1797, Page 393, Orange County Registry, respectively <br />(together, the "Original Agreement"); and <br />WHEREAS, the changes to the terms of the Payment Schedule include <br />revising the interest rate from 4.92% to 3.90%; <br />NOW, THEREFORE BE IT RESOLVED by Orange County, North <br />Carolina, that the proposed changes to the Payment Schedule of the Original <br />Agreement are hereby approved and the officers designated to sign financing <br />documents are hereby authorized and directed to take such action as may be <br />necessary to effectuate such changes. All other terms and conditions of the <br />Original Agreement and the Payment Schedule thereof remain in full force and <br />effect. <br />Adopted this day of August, 2004. <br />Attestation: <br />SEAL <br />Clerk to the Board <br />Orange County, North Carolina <br />Chair <br />Orange County, North Carolina <br />