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THIS FIRST SUPPLEMENTAL TRUST AGREEMENT is dated as of June 13 , <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, 298 , 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 Agreemen t, " as defined in Exhibit B, <br /> NOW, THEREFORE, in consideration of the covenants contained in this <br /> Supplemental Agreement, the parties agree as follows , <br />