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19 <br /> THIS FIRST SUPPLEMENTAL TRUST AGREEMENT is dated as of June , <br /> 2023 (this "Supplemental Agreement"), is between ORANGE COUNTY, NORTH <br /> CAROLINA, a political subdivision of the State of North Carolina (the "County"), and <br /> THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking <br /> association having an office in Jacksonville, Florida, as trustee (the "Trustee"), and <br /> relates to the issuance of [$14,500,000] Limited Obligation Bonds, Series 2023 (the <br /> "2023 Bonds"). <br /> Introduction <br /> The County and the Trustee executed and delivered a Trust Agreement dated <br /> as of June 1, 2021 (the "Prior Agreement"). The Prior Agreement provides for the <br /> issuance of a 2021 series of limited obligation bonds (the "2021 Bonds"), and allows <br /> for the issuance of additional series of limited obligation bonds. The Prior <br /> Agreement provides that the parties will enter into a supplemental agreement for <br /> each issue of limited obligation bonds. <br /> The County and the Trustee are now entering into this Supplemental <br /> Agreement to supplement the Prior Agreement and provide for the issuance of the <br /> 2023 Bonds as additional bonds under the Trust Agreement. The 2023 Bonds are <br /> issued and secured on a parity with the 2021 Bonds and the rest of the "Prior <br /> Bonds," as defined below. <br /> The County is issuing the 2023 Bonds to provide funds to be used, together <br /> with other available funds, on a project (the "2023 Project") to acquire, construct, <br /> equip and otherwise improve a variety of County facilities and assets, including <br /> those described in Exhibit A, and to pay financing costs and other related costs. <br /> Each of the 2023 Bonds represents an "installment contract" within the <br /> meaning of Section 160A-20 of the North Carolina General Statutes, between the <br /> County and the owner of that Bond. The Trustee serves under this Supplemental <br /> Agreement for and on behalf of the bondholders. <br /> Unless the context clearly requires otherwise, capitalized terms used in this <br /> Supplemental Agreement and not otherwise defined have the meanings set forth in <br /> Exhibit B or in the 'Prior Agreement,"as defined in Exhibit B. <br /> 1 <br />