Orange County NC Website
27 <br /> NOW, THEREFORE, in consideration of the covenants contained in this <br /> Supplemental Agreement, the parties agree as follows: <br /> ARTICLE I <br /> THE 2019B Bonds <br /> Section 1.01. Provision for 2019B Bonds; Advance. (a) The County <br /> will issue, and the Trustee will authenticate and deliver, 2019B Bonds in an <br /> aggregate principal amount of [$50,000,000]. <br /> (b) The County acknowledges that the amount paid to it from the issuance <br /> and sale of the 2019B Bonds is equal to the face amount of the 2019B Bonds (i) <br /> reduced by the amount of a discount for the underwriting of the 2019B Bonds and <br /> (ii) increased by the net original issue premium in the offering of the 2019B Bonds. <br /> This total amount is $ . The County will use the amount paid as provided <br /> in this Supplemental Agreement to pay 2019B Project Costs, including Refinancing <br /> Costs. <br /> Section 1.02. Bonds Constitute Installment Contracts. Each of the <br /> 2019B Bonds, together with the County's corresponding obligations under the Trust <br /> Agreement and the Deed of Trust, constitutes a separate "installment contract" <br /> within the meaning of Section 160A-20 between the County and the owner of that <br /> Bond. The County's payment obligations, and its other obligations under this <br /> Agreement and with respect to the Bonds, are secured by the lien on the Mortgaged <br /> Property created under the Deed of Trust and by the other security provided for in <br /> the Trust Agreement. <br /> Section 1.03. Agreement Supplements 2018 Agreement; 2019B <br /> Bonds Are Additional Bonds. (a) This Supplemental Agreement is a <br /> "supplemental agreement" for the issuance of Additional Bonds as provided in the <br /> 2018 Agreement, and the 2019B Bonds are "Additional Bonds" as defined in the <br /> 2018 Agreement. <br /> (b) Except as modified by this Supplemental Agreement, all terms of the <br /> Prior Agreement remain in effect and apply with respect to the 2019B Bonds to the <br /> same extent as to all Prior Bonds. The continuing disclosure obligations set out in <br /> 2 <br />