Orange County NC Website
i <br /> i <br /> (a) The " Mortgaged Property" as defined in the Existing Deed of Trust; <br /> along with <br /> i <br /> (b ) The property described as Parcels Five , Six, Seven , Eight, Nine and Ten <br /> on Exhibit A and any real property later acquired by the County in exchange for, or <br /> in consideration of the exchange of, or with the proceeds from any disposition of, all <br /> or any part of any property described in this paragraph, and in all cases together <br /> with all easements , rights , rights - of-way and appurtenances belonging to any of that <br /> property ( collectively, the "Added Property" ) ; and <br /> (c) all buildings and other improvements and fixtures now or later <br /> attached to or used in or on that the Added Property or any of its improvements, <br /> including (1) all renewals , replacements , and additions , (ii) all articles in substitution, <br /> (iii) all building materials for construction, improvement, modification or repair of <br /> improvements upon their delivery to the Added Property, and (iv) all proceeds of all <br /> the foregoing in whatever form resulting from the loss or disposition of the foregoing, <br /> including all proceeds of and unearned premiums for any insurance policies covering <br /> the Added Property and the improvements, proceeds of title insurance and payments <br /> related to the exercise of condemnation or eminent domain authority, and all <br /> judgments or settlements in lieu of any of the foregoing; <br /> all of which together now constitutes the " Mortgaged Property" for the purposes of the <br /> Modified Deed of Trust. <br /> TO HAVE AND TO HOLD the Mortgaged Property with all privileges and <br /> appurtenances belonging thereunto , to the Deed of Trust Trustee, her successors <br /> and assigns forever, upon the trusts, terms and conditions and for the purposes set <br /> out below, in fee simple in trust; <br /> SUBJECT, HOWEVER, to the encumbrances described in Exhibit B , <br /> BUT THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST : if the <br /> " Obligations , " as defined in Section 1a- 1 below, in full and in <br /> County pays its <br /> accordance with the Loan Documents , and the County complies with all the terms , <br /> covenants and conditions of the Loan Documents , this conveyance will be null and <br /> void and will be canceled of record at the County' s request and cost, and title will <br /> revest as provided by law; <br /> 4 <br />