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<br /> ORANGE COUNTY ) This instrument secures future advances.
<br /> DEED OF TRUST SUPPLEMENT #4
<br /> THIS DEED OF TRUST SUPPLEMENT #4 (this "Supplement") is dated as of
<br /> May 11, 2022, 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 /> Introduction
<br /> The County is issuing its $41,070,000 Limited Obligation Bonds, Series 2022
<br /> (the "2022 Bonds"), under a Fourth Supplemental Trust Agreement dated as of May
<br /> 11, 2022 (the "2022 Agreement"), between the County and BNY-M, as trustee. The
<br /> County is issuing the 2022 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 2022 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) a First Supplemental Trust Agreement dated
<br /> as of April 1, 2019, (b) a Second Supplemental Trust Agreement dated as of October
<br /> 1, 2019, and (c) a Third Supplemental Trust Agreement dated as of May 1, 2020 (the
<br /> 2018 Agreement as supplemented, the "Prior Agreement"). Under the Prior
<br /> Agreement, the County has issued its $7,510,000 Limited Obligation Bonds, Series
<br /> 2018, its $14,135,000 Limited Obligation Bonds, Series 2019A, its $29,745,000
<br /> Limited Obligation Bonds, Series 2019B, and its $40,731,000 Limited Obligation
<br /> Bond, Series 2020 (together, the "Prior Bonds"). The County secured its repayment
<br /> obligation with respect to the Prior Bonds by granting a security interest in certain
<br /> Mortgaged Property, as defined in the Existing Deed of Trust (as defined below).
<br /> The parties have now agreed that the Mortgaged Property will also secure the
<br /> County's repayment obligations with respect to the 2022 Bonds as provided in the
<br /> 2022 Agreement.
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