Orange County NC Website
85 <br /> TOTAL ANNUAL DEBT SERVICE REQUIREMENTS <br /> The following table sets forth for each Fiscal Year of the County, the debt service required to be <br /> paid by the County under the Trust Agreement with respect to the 2024 Bonds and the Prior Bonds. <br /> 2024A Bonds 2024B Bonds Prior Bonds <br /> Fiscal Year Total Principal Total Principal Total Principal <br /> (Ended June 30) and Interest and Interest and Interest' Total <br /> 2024 <br /> 2025 <br /> 2026 <br /> 2027 <br /> 2028 <br /> 2029 <br /> 2030 <br /> 2031 <br /> 2032 <br /> 2033 <br /> 2034 <br /> 2035 <br /> 2036 <br /> 2037 <br /> 2038 <br /> 2039 <br /> 2040 <br /> 2041 <br /> 2042 <br /> 2043 <br /> 2044 <br /> TOTAL' <br /> 'Includes debt service on the 2021A Bonds,2021B Bonds,2023A Bonds and 2023B Bonds. <br /> Note:Totals may not foot due to rounding. <br /> CERTAIN RISKS OF 2024 BOND OWNERS <br /> INSUFFICIENCY OF PAYMENTS <br /> If the County fails to pay any payments on the Bonds as the same become due or if another event <br /> of default occurs under the Trust Agreement, the Trustee may accelerate the principal with respect to the <br /> Bonds, direct the Deed of Trust Trustee to foreclose on the Mortgaged Property under the Modified Deed <br /> of Trust,take possession of the Mortgaged Property and attempt to dispose of the Mortgaged Property. See <br /> "THE DEED OF TRUST" in Appendix C hereto. Zoning restrictions and other land use factors relating <br /> to the Mortgaged Property may limit the use of the Mortgaged Property and may affect the proceeds <br /> obtained on any disposition by the Deed of Trust Trustee. THERE CAN BE NO ASSURANCE THAT THE <br /> MONEYS AVAILABLE IN THE FUNDS AND ACCOUNTS HELD BY THE TRUSTEE AND THE PROCEEDS OF ANY <br /> SUCH DISPOSITION OF THE MORTGAGED PROPERTY WILL BE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF <br /> THE PRINCIPAL AND INTEREST WITH RESPECT TO THE BONDS. SECTION 160A-20(f) OF THE GENERAL <br /> STATUTES OF NORTH CAROLINA PROVIDES THAT NO DEFICIENCY JUDGMENT MAY BE RENDERED AGAINST <br /> 13 <br />