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<br /> DEED OF TRUST SUPPLEMENT #3
<br /> THIS DEED OF TRUST SUPPLEMENT #3 (this "Supplement") is dated as of
<br /> May 1, 2020, and is granted by ORANGE COUNTY, NORTH CAROLINA, a political
<br /> subdivision of the State of North Carolina (the "County"), to Amy K. Johnson, as
<br /> trustee (the "Deed of Trust Trustee"), for the benefit of THE BANK OF NEW YORK
<br /> MELLON TRUST COMPANY, N.A.,AS TRUSTEE ("BNY-M").
<br /> RECITALS:
<br /> The County is issuing its [$45,000,000] Limited Obligation Bonds, Series 2020
<br /> (the "2020 Bonds"), under a Third Supplemental Trust Agreement dated as of May 1,
<br /> 2020 (the "2020 Agreement"), between the County and BNY-M, as trustee. The
<br /> County is issuing the 2020 Bonds to provide funds, to be used together with other
<br /> available funds, to acquire, construct, equip and otherwise improve a variety of
<br /> County facilities and assets, as well as to pay financing costs and other related costs.
<br /> The 2019B Agreement supplements a Trust Agreement dated as of June 1,
<br /> 2018 (the "2018 Agreement"), between the County and BNY-M, as trustee, which the
<br /> parties previously supplemented by a First Supplemental Trust Agreement dated as
<br /> of May 1, 2019, and a Second Supplemental Trust Agreement dated as of October 1,
<br /> 2019 (as supplemented, the "Prior Agreement"). Under the Prior Agreement, the
<br /> County issued its $7,510,000 Limited Obligation Bonds, Series 2018, its $14,135,000
<br /> Limited Obligation Bonds, Series 2019A, and its $29,745,000 Limited Obligation
<br /> Bonds, Series 2019B (together, the "Prior Bonds"). The County secured its
<br /> repayment obligation with respect to the Prior Bonds by granting a security interest
<br /> in certain Mortgaged Property, as defined in the 2019B Deed of Trust (as defined
<br /> below).
<br /> The parties have now agreed that the Mortgaged Property will also secure the
<br /> County's repayment obligations with respect to the 2020 Bonds as provided in the
<br /> 2020 Agreement.
<br /> Accordingly, this Supplement supplements the Deed of Trust and
<br /> Security Agreement granted by the County for the benefit of BNY-M dated as of
<br /> June 1, 2018 (the "2018 Deed of Trust") and recorded at RB 6486, Page 413, Orange
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