Orange County NC Website
Browse       Search
now also include the real property described as Parcels Five through Ten on Exhibit <br /> A, and all improvements to that property, as further described below. <br /> Accordingly, this Supplement supplements the Deed of Trust and <br /> Security Agreement granted by the County for the benefit of BNY- M dated as of <br /> June 1 , 2021 , and recorded at RB 6730 , Page 209 , Orange County Registry (the <br /> " Existing Deed of Trust" ) , The Existing Deed of Trust, as modified by this <br /> ified Deed of Trust" in this Supplement. <br /> Supplement, is referred to as the " Mod <br /> The Mortgaged Property includes the real property described in Exhibit A . <br /> The County is the record owner of that real property. <br /> The County executes and delivers this Supplement to secure current advances <br /> under the 2023 Agreement of $ 14, 298 , 000 , as well as ( a) total outstanding advances <br /> with respect to the Prior Bonds of approximately $ 21 , 265 , 000 , and (b) potential <br /> future advances up to a total maximum principal amount outstanding at any one time <br /> of $ 200 , 000 , 000 , all as described and pursuant to the Existing Deed of Trust. The time <br /> during which such future advances may be made is 30 years from June 1, 2021 . The <br /> current scheduled date for final repayment of amounts secured under the Modified <br /> Deed of Trust is February 1 , 2043 . <br /> NOW, THEREFORE, <br /> ( 1 ) in consideration of the execution and delivery of the 2023 Bonds and <br /> the 2023 Agreement and other good and valuable consideration, the receipt and <br /> sufficiency of which the County acknowledges , <br /> ( 2 ) to secure the County' s performance of all its covenants under this <br /> Supplement, the Existing Deed of Trust, the 2023 Agreement, the 2021 Agreement, <br /> the 2023 Bonds and the Prior Bonds (together, the " Loan Documents " ) , and <br /> ( 3 ) to charge the Mortgaged Property with that payment and performance , <br /> the County sells , grants and conveys to the Deed of Trust Trustee , her successors <br /> and assigns forever, in trust, with power of sale , the " Mortgaged Property, " which is <br /> now defined as the following . <br /> 3 <br />