Orange County NC Website
STATE OF NORTH CAROLINA ) The collateral is or includes Fixtures . <br /> ORANGE COUNTY ) This instrument secures future advances . <br /> SUPPLEMENTDEED OF TRUST <br /> THIS DEED OF TRUST SUPPLEMENT # 2 (this " Supplement " ) is dated as of <br /> June 1 , 2024 , and is granted by ORANGE COUNTY, NORTH CA.ROLINA, a political <br /> subdivision of the State of North Carolina (the " County " ) , to Any K . Johnson, as <br /> trustee (the " Deed of Trust Trustee ") , for the benefit of THE BANK OF NEW YORK <br /> MELLON TRUST COMPANY, N .A . , AS TRUSTEE ( " BNY - M " ) , <br /> Introduction <br /> The County is issuing its $ 11 , 880 , 000 ( aggregate principal amount) Limited <br /> Obligation Bonds , Series 2024 ( the " 2024 Bonds " ) , under a Second Supplemental <br /> Trust Agreement dated as of June 1 , 2024 ( the " 2024 Agreement " ) , between the <br /> County and BNY - M , as trustee . The County is issuing the 2024 Bonds to provide <br /> funds , to be used together with other available funds , to acquire , construct, equip <br /> and otherwise improve a variety of County facilities and assets , as well as to pay <br /> financing costs and other related costs . <br /> The 2024 Agreement supplements a Trust Agreement dated as of June 1 , <br /> 2021 (the " 2021 Agreement" ) . Under the 2021 Agreement, as previously <br /> supplemented , the County has issued the " Prior Bonds , " as defined in Section 2 - 2 . <br /> The County secured its repayment obligation with respect to the Prior Bonds by <br /> granting a security interest in certain Mortgaged Property, as defined in the Existing <br /> Deed of Trust (as defined below) . <br /> The parties have now agreed that the Mortgaged Property will also secure the <br /> County' s repayment obligations with respect to the 2024 Bonds as provided in the <br /> 2024 Agreement . <br /> r. <br />