Orange County NC Website
14 County' s Obligation Limited . Notwithstanding any other provision <br /> of the Loan Documents, the parties intend that this transaction will comply with <br /> North Carolina General Statutes Section 160A- 20 . No deficiency judgment may be <br /> entered against the County in violation of Section 160A - 20 . <br /> No provision of this Supplement should be construed or interpreted as <br /> creating a pledge of the County' s faith and credit within the meaning of any <br /> constitutional debt limitation . No provision of this Supplement should be construed <br /> or interpreted as an illegal delegation of governmental powers, nor as an improper <br /> donation or lending of the County' s credit within the meaning of the North Carolina <br /> constitution . The County' s taxing power is not and may not be pledged, directly or <br /> indirectly contingently, to secure any moneys due under this Supplement. <br /> Nothing in this Section is intended to impair or prohibit foreclosure under the <br /> Modified Deed of Trust if the Obligations are not paid when due or otherwise upon <br /> the occurrence of an Event of Default under the Loan Documents . <br /> No provision of this Supplement restricts the County' s future issuance of any <br /> of its bonds or other obligations payable from any class or source of the County' s <br /> moneys ( except to the extent the Loan Documents restrict the incurrence of <br /> additional obligations secured by the Mortgaged Property) . <br /> To the extent of any conflict between this Section and any other provision of <br /> this Supplement, this Section takes priority. <br /> 2 . Miscellaneous <br /> 24 Notices . <br /> ( a) Any communication provided for in this Supplement must be in English <br /> and must be in writing, and " writing" includes facsimile transmission and electronic <br /> mail . <br /> (b ) For the purposes of this Supplement, any communication sent by <br /> facsimile transmission or electronic mail will be deemed to have been given on the <br /> date the communication is similarly acknowledged by a County Representative ( in <br /> the case of the County) or other authorized representative (in the case of any other <br /> party) . No such communication will be deemed given or effective without such an <br /> 6 <br />