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Agenda - 08-17-2004-5q
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Agenda - 08-17-2004-5q
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Last modified
8/29/2008 5:21:47 PM
Creation date
8/29/2008 10:23:26 AM
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Template:
BOCC
Date
8/17/2004
Document Type
Agenda
Agenda Item
5q
Document Relationships
2004 S Finance - BB&T Refinancing Installment Purchase Agreement
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2004
Minutes - 20040817
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2004
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8 <br />EXHIBIT A-2 <br />Revised Payment Schedule (Exhibit D) to Financing Agreement and Deed of Trust dated as <br />of December 1, 1996, and subsequent Modification Agreements dated as of March 1, 1997, <br />and dated as of June 1, 1998, respectively (together, the "Original Agreement") granted by <br />Orange County, North Carolina, to BB&T. <br />Dated as of: August 18, 2004 Account Number: 003-1523500-006 <br />This Payment Schedule is issued pursuant to a Modification Agreement dated as of <br />August 18, 2004 (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 $5,569,731.62) call for remaining <br />amortization period of approximately eight (8) years. Payments are semi-annual in arrears in the <br />amount of $431,250.67. A portion of each payment is paid as and represents payment of interest <br />at an annual interest rate of 3.90%. <br />Payments are due beginning on February 1, 2005, and semi-annually thereafter, with a <br />final payment of all outstanding principal and accrued and unpaid interest due on February 1, <br />2012, all as set forth in the attached amortization schedule. <br />6 <br />
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