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Exhibit C - Form of 2023 Bonds <br /> Registered Bond Number RA.4 / RB4 <br /> LIMITED OBLIGATION BOND , SERIES 2023A / 2023B <br /> ORANGE COUNTY, NORTH CAROLINA <br /> ORANGE COUNTY, NORTH CAROLINA (the " County , for value received , <br /> promises to pay, but solely from the sources and in the manner provided, to <br /> TD Bank, N .A . <br /> or registered assigns (the " Bondholder " ) , the principal sum of <br /> [ MILLION DOLLARS] <br /> 000 , 000 * * * * * ] <br /> in principal installments payable on each February 1 as shown on Schedule I . <br /> together with interest on the unpaid principal from the date hereof until payment of <br /> the entire principal sum at the annual rate of % , payable on each February 1 <br /> and August 1 , beginning February 1 , 2024 subject to prepayment and adjustment as <br /> described below , <br /> interest is payable ( a) from June 13 , 2023 ) if this Bond is authenticated prior <br /> to February 1 , 2024, or ( b ) otherwise from the February 1 or August 1 that is , or <br /> immediately precedes, the date on which this Bond is authenticated (unless <br /> payment of interest on this Bond is in default, in which case this Bond will bear <br /> interest from the date to which interest has been paid) . In all events , ( 1 ) all <br /> payments on this Bond will be applied first to interest accrued and unpaid to the <br /> payment date and then to principal, and ( 2 ) if not sooner paid, the entire principal of <br /> and interest on this Bond will be due and payable on February 1 , 20 , Principal <br /> and interest are payable in lawful money of the United States of America. <br /> 25 <br />