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Version 09.14.20 Collateral Exhibit Orange County Page 18 <br />CA Form - W04M5F19 <br />© (2019) The Travelers Indemnity Company. All rights reserved. <br />As security for the payment and performance of your Obligations to us, you shall unconditionally pledge and deliver to us and <br />maintain the Collateral in the type and amount set forth in the Collateral Requirements section of the applicable Program Exhibit. In <br />addition to the terms contained elsewhere in the Agreement, you agree to the provisions listed in this Collateral Exhibit concerning <br />the Collateral provided. <br />LETTER OF CREDIT <br />The following provisions apply to any Letters of Credit provided under the Agreement. <br />1. Any Collateral delivered to us and maintained by you under this section shall be clean, irrevocable, unconditional and <br />automatically renewing and in form, content and by issuer satisfactory to us. You acknowledge that any failure by you to provide <br />us with pursuant to our requirement will cause irreparable harm to us. <br />2. At least sixty (60) days prior to the expiration of any Collateral held by us, you shall deliver to us renewal or replacement <br />Collateral in form, content and by issuer satisfactory to us. The aggregate amount of such renewal or replacement Collateral shall <br />be the same amount as the expiring Collateral, unless we tell you in writing of such other amount as we, in our sole discretion, <br />determine necessary to secure all of your Obligations to us. <br />3. At any time, we may require changes in the form, content, issuer or amount of any Collateral held by us to secure your <br />Obligations. You shall provide such amended Collateral within 15 days after your receipt of our notice of the need for any such <br />changes. <br />AGREED TO BY AND BETWEEN: <br />Orange County THE TRAVELERS INDEMNITY COMPANY <br />________________________________________________________________________________________________ <br />Bonnie Hammersly <br />208 SOUTH CAMERON STREET <br />HILLSBOROUGH, NC 27278 <br />BHAMMERSLEY@ORANGECOUNTYNC.GOV <br />_________________________________________________ <br />Gary Donaldson <br />208 SOUTH CAMERON STREET <br />HILLSBOROUGH, NC 27278 <br />GDONALDSON@ ORANGECOUNTYNC.GOV <br />Travelers,385 Washington Street <br />St. Paul, MN 55102 <br />Attn: Stephanie Gardner <br />Email: SGARDNE2@travelers.com <br />DocuSign Envelope ID: FCD9FE56-CF01-4E96-B983-B8E8DFE6811C