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<br /> Apr 13,2020 1:17 pm Prepared by DBC Finance (Finance 8.500 Orange County, NC:2020) Page 6
<br /> PROOF OF ARBITRAGE YIELD
<br /> Orange County, NC
<br /> Limited Obligation Bond,Series 2020
<br /> Final Numbers
<br /> Capital One
<br /> Present Value
<br /> to 05/08/2020
<br /> Date Debt Service Total @ 2.7001731403%
<br /> 10/01/2020 436,839.99 436,839.99 432,210.63
<br /> 04/01/2021 549,868.50 549,868.50 536,794.15
<br /> 10/01/2021 3,008,868.50 3,008,868.50 2,898,197.76
<br /> 04/01/2022 516,672.00 516,672.00 491,038.58
<br /> 10/01/2022 2,983,672.00 2,983,672.00 2,797,870.70
<br /> 04/01/2023 483,367.50 483,367.50 447,228.92
<br /> 10/01/2023 2,956,367.50 2,956,367.50 2,698,899.62
<br /> 04/01/2024 449,982.00 449,982.00 405,321.21
<br /> 10/01/2024 2,930,982.00 2,930,982.00 2,604,912.96
<br /> 04/01/2025 416,488.50 416,488.50 365,223.70
<br /> 10/01/2025 2,905,488.50 2,905,488.50 2,513,917.25
<br /> 04/01/2026 382,887.00 382,887.00 326,872.45
<br /> 10/01/2026 2,729,887.00 2,729,887.00 2,299,472.60
<br /> 04/01/2027 351,202.50 351,202.50 291,888.54
<br /> 10/01/2027 2,702,202.50 2,702,202.50 2,215,915.59
<br /> 04/01/2028 319,464.00 319,464.00 258,483.68
<br /> 10/01/2028 2,547,464.00 2,547,464.00 2,033,738.59
<br /> 04/01/2029 289,386.00 289,386.00 227,950.46
<br /> 10/01/2029 2,102,386.00 2,102,386.00 1,633,997.10
<br /> 04/01/2030 264,910.50 264,910.50 203,148.62
<br /> 10/01/2030 2,077,910.50 2,077,910.50 1,572,234.84
<br /> 04/01/2031 240,435.00 240,435.00 179,499.87
<br /> 10/01/2031 2,029,435.00 2,029,435.00 1,494,918.36
<br /> 04/01/2032 216,283.50 216,283.50 157,196.04
<br /> 10/01/2032 2,005,283.50 2,005,283.50 1,438,036.34
<br /> 04/01/2033 192,132.00 192,132.00 135,947.01
<br /> 10/01/2033 1,981,132.00 1,981,132.00 1,383,118.04
<br /> 04/01/2034 167,980.50 167,980.50 115,712.58
<br /> 10/01/2034 1,956,980.50 1,956,980.50 1,330,099.36
<br /> 04/01/2035 143,829.00 143,829.00 96,453.93
<br /> 10/01/2035 1,932,829.00 1,932,829.00 1,278,918.21
<br /> 04/01/2036 119,677.50 119,677.50 78,133.58
<br /> 10/01/2036 1,892,677.50 1,892,677.50 1,219,207.73
<br /> 04/01/2037 95,742.00 95,742.00 60,852.65
<br /> 10/01/2037 1,868,742.00 1,868,742.00 1,171,931.39
<br /> 04/01/2038 71,806.50 71,806.50 44,431.65
<br /> 10/01/2038 1,844,806.50 1,844,806.50 1,126,303.45
<br /> 04/01/2039 47,871.00 47,871.00 28,837.19
<br /> 10/01/2039 1,820,871.00 1,820,871.00 1,082,269.76
<br /> 04/01/2040 23,935.50 23,935.50 14,037.01
<br /> 10/01/2040 1,796,935.50 1,796,935.50 1,039,777.91
<br /> 51,855,681.99 51,855,681.99 40,731,000.00
<br /> Proceeds Summary
<br /> Delivery date 05/08/2020
<br /> Par Value 40,731,000.00
<br /> Target for yield calculation 40,731,000.00
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