Orange County NC Website
( d) An executed copy of Deed of Trust Supplement # 1 , which extends the <br /> benefit of the security provided to the Trustee under the Prior Deed of Trust to <br /> secure the County' s performance of its obligations under this Supplemental <br /> Agreement and 2023 Bonds, as contemplated by Section 1 . 06 ( iv) of the Prior <br /> Agreement <br /> ( e ) An Opinion of Bond Counsel to the effect that the execution and <br /> delivery of the 2023 Bonds as Additional Bonds is permitted under the terms of the <br /> Prior Agreement and has been duly authorized <br /> (f) A County Certificate directing the Trustee to authenticate and then <br /> deliver the 2023 Bonds to the person or persons named therein upon payment to <br /> the Trustee of a specified sum <br /> (g) A County Certificate directing the Trustee as to the application of the <br /> proceeds from the sale of the 2023 Bonds <br /> (h) Evidence of the issuance or proposed issuance of one or more lender ' s <br /> title insurance policies ( or an appropriate endorsement to an existing policy) in <br /> favor of the Trustee , in an aggregate face amount of insurance equal to the total <br /> amount of Outstanding Bonds plus the principal amount of the 2023 Bonds, and <br /> including the instrument referenced in ( d) above as an insured instrument <br /> Section 1 . 09 . Limited Obligation . The 2023 Bonds are limited obligations <br /> of the County, as provided and described in Section 4 . 05 of the Prior Agreement, <br /> ARTICLE II <br /> REDEMPTION <br /> Section 2 . 01 . Redemption Dates and Prices . ( a) Principal of the 2023 <br /> Bonds is subject to redemption and prepayment prior to the scheduled Payment <br /> Dates only under the terms of this Article . <br /> (b) 2023A Bond - The County may prepay the principal of the 2023A <br /> Bond in whole or in part at any time, at the County' s option, upon payment of (1) the <br /> principal amount to be prepaid, plus (ii) interest accrued to the prepayment date , <br /> 7 <br />