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Return After Recording to: Tara Fikes, Housing Director, P.O. Box 8181, Hillsborough, North Carolina <br />27278 <br />AGREEMENT AND DEED OF TRUST <br />STATE OF NORTH CAROLINA <br />ORANGE COUNTY <br />THIS AGREEMENT AND DEED OF TRUST (this "Agreement") is dated as of <br />and is granted by , a North <br />Carolina non profit corporation or unincorporated association (the "affordable housing owner"), <br />to Geoffrey E. Gledhill, a citizen and resident of Orange County, North Carolina (the "Deed of <br />Trust Trustee"), for the benefit of Orange County, North Carolina ("the County"). <br />RECITALS: <br />The affordable housing owner has the power to enter into this Agreement and to secure <br />its obligations under such contracts by security interests in all or a portion of the property it <br />owns. This Agreement provides for the County to reimburse the affordable housing owner for <br />public school capital impact fees paid by the affordable housing owner related to the construction <br />of affordable housing, and provides for securing the affordable housing owner's obligations <br />under this Agreement by creating certain security interests in favor of the County. <br />This Agreement secures reimbursement of <br />for final repayment is on or about <br />The current scheduled date <br />(99 years after the date of this Agreement) <br />NOW, THEREFORE, <br />(1) in consideration of the execution and delivery of this Agreement and other good <br />and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged; <br />(2) to secure the affordable housing owner's performance of all its covenants under <br />this Agreement, including the repayment of amounts advanced and to be advanced, <br />together with interest on all such advances as provided in this Agreement or any <br />amendments hereto, and all charges and expenses of collection (including court costs and <br />reasonable attorneys' fees and expenses); and <br />(3) to charge the Mortgaged Property, as defined below, with such payment and <br />performance, <br />the affordable housing owner hereby sells, grants and conveys to the Deed of Trust Trustee, his <br />heirs and assigns forever, in trust, with power of sale, the following (collectively, the "Mortgaged <br />