Orange County NC Website
11 <br /> Accordingly, this Supplement supplements the Deed of Trust and <br /> Security Agreement granted by the County for the benefit of BNY-M dated as of <br /> June 1, 2018 (the "2018 Deed of Trust") and recorded at RB 6486, Page 413, Orange <br /> County Registry, which has been previously supplemented by instruments recorded <br /> at RB 6613, Page 17, RB 6633, Page 1121, and RB 6657, Page 704, Orange County <br /> Registry (those instruments, together with the 2018 Deed of Trust, are referred to <br /> as the "Existing Deed of Trust" in this Supplement). The Existing Deed of Trust, as <br /> modified by this Supplement, is referred to as the "Modified Deed of Trust" in this <br /> Supplement. <br /> The Mortgaged Property includes the real property described in Exhibit A. <br /> The County is the record owner of that real property. <br /> The County executes and delivers this Supplement to secure current advances <br /> under the 2022 Agreement of$41,070,000, as well as (a) total outstanding advances <br /> with respect to the Prior Bonds of approximately $76,837,000, and (b) potential <br /> future advances up to a total maximum principal amount outstanding at any one time <br /> of$200,000,000, all as described and pursuant to the Existing Deed of Trust. The time <br /> during which such future advances may be made is 30 years from June 1, 2018. The <br /> current scheduled date for final repayment of amounts secured under the Modified <br /> Deed of Trust is February 1, 2043. <br /> NOW, THEREFORE, <br /> (1) in consideration of the execution and delivery of the 2022 Bonds and <br /> the 2022 Agreement and other good and valuable consideration, the receipt and <br /> sufficiency of which the County acknowledges, <br /> (2) to secure the County's performance of all its covenants under this <br /> Supplement, the Existing Deed of Trust, the 2022 Agreement, the Prior Agreement, <br /> the 2022 Bonds and the Prior Bonds (together, the "Loan Documents"), and <br /> (3) to charge the Mortgaged Property with that payment and performance, <br /> the County sells, grants and conveys to the Deed of Trust Trustee, her successors <br /> and assigns forever, in trust, with power of sale, the Mortgaged Property, as defined <br /> in the 2019B Deed of Trust, which includes the property described in Exhibit A; <br /> 3 <br />