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40 <br /> This Bond constitutes the entire issue of [$43,000,000] Limited Obligation <br /> Bonds, Series 2020 (the "Bonds"), issued under, and equally and ratably secured by, <br /> a Trust Agreement dated as of June 1, 2018,between the County and The Bank of New <br /> York Mellon Trust Company, N.A., as trustee (the "Trustee"), as previously <br /> supplemented and as supplemented by a Third Supplemental Trust Agreement <br /> between the County and the Trustee and dated as of May 1, 2020 (as supplemented, <br /> the "Trust Agreement"). <br /> This Bond constitutes an installment contract within the meaning of Section <br /> 160A-20 of the North Carolina General Statutes between the County and the owner <br /> (from time to time) of this Bond. The Bond is payable solely from funds appropriated <br /> on an annual basis by the County's governing Board of Commissioners and other <br /> funds available for the purpose of payment pursuant to the Trust Agreement, such as <br /> certain net insurance and condemnation awards and the proceeds of remedial action, <br /> which revenues and other moneys have been pledged as described in the Trust <br /> Agreement to secure payment of the Bond. Neither the County's faith and credit nor <br /> its taxing power is pledged to the payment of any amounts due under the Bond. As <br /> provided for under that Section 160A-20, no deficiency judgment may be rendered <br /> against the County in any action for breach of a contractual obligation under the Bond <br /> or the Trust Agreement. <br /> To further secure its obligations under the Trust Agreement, the County has <br /> granted, for the benefit of the Trustee on behalf of the owners of the Bonds, a security <br /> interest in certain public facilities and the related real property, and certain other <br /> property, pursuant to the Trust Agreement and a Deed of Trust and Security <br /> Agreement dated as of June 1, 2018, as previously supplemented and as <br /> supplemented by a Deed of Trust Supplement #3 dated as of May 1, 2020, delivered <br /> by the County for the Trustee's benefit (as supplemented, the "Deed of Trust"). <br /> The security provided to owners of the Bond under the Deed of Trust and <br /> otherwise is on parity with the security provided to owners of prior bonds issued <br /> under the Trust Agreement. Additional Bonds secured by a parity interest in the <br /> property securing the Bond may be issued under the terms and conditions set forth <br /> in the Trust Agreement. <br /> Reference is made to the Trust Agreement and the Deed of Trust referenced <br /> above for the provisions, among others, with respect to the nature and extent of the <br /> 19 <br />