Orange County NC Website
for the benefit of the owners of the Refunded Obligations until used and applied in <br /> accordance with this Agreement. <br /> SECTION 8. The Escrow Agent acknowledges receipt of a certified copy of the <br /> 2021 Resolution calling the Refunded Obligations for redemption, and of a copy of <br /> the Finance Officer's certificate contemplated by the 2021 Resolution related to the <br /> final call for redemption. The County confirms that it has specifically and irrevocably <br /> elected to redeem all of the Refunded Obligations as described on Exhibit A. <br /> The County irrevocably directs the Escrow Agent to, and the Escrow Agent <br /> agrees that it will, promptly after the original execution and delivery of this Escrow <br /> Agreement, provide for a notice of refunding in substantially the form of Exhibit D to <br /> be posted with the EMMA continuing disclosure system of the Municipal Securities <br /> Rulemaking Board (the "MSRB") with respect to the DTC Obligations. <br /> The County irrevocably directs the Escrow Agent to, and the Escrow Agent <br /> agrees that it will, at least thirty days but not more than sixty days before October 1, <br /> 2022, cause a redemption notice substantially in the form of Exhibit E (a) to be sent <br /> to The Depository Trust Company both (i) by registered or certified mail, postage <br /> prepaid, to Supervisor, Call Notification Department, The Depository Trust Company, <br /> 55 Water St., 50th Floor, New York NY 10041-0004, and (ii) by electronic mail to <br /> redemptionnotification@dtcc.com, and (b) to be posted with the MSRB's EMMA <br /> continuing disclosure system with respect to the DTC Obligations. <br /> The County irrevocably directs the Escrow Agent to, and the Escrow Agent <br /> agrees that it will, promptly after the original execution and delivery of this Escrow <br /> Agreement, provide for a notice of refunding in substantially the form of Exhibit F to <br /> be sent to the address shown on Exhibit F. <br /> SECTION 9. The Escrow Agent's liability to make the payments required by <br /> this Agreement with respect to the Refunded Obligations is limited to the principal <br /> of and interest received on the Escrow Investments and the other funds on deposit <br /> in the Escrow Fund. The Escrow Agent is not liable for any loss resulting from any <br /> investment made pursuant to this Agreement in compliance with the provisions of <br /> this Agreement. <br /> 4 <br />