Orange County NC Website
Browse       Search
i <br /> Accordingly, this Supplement supplements the Dead 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 , Grange County Registry, as <br /> previously supplemented by the instrument recorded at RB 6818 , Page 817 , Orange <br /> County Registry (together , the " Existing Deed of Trust" ) . The Existing Deed of Trust, <br /> as modified by this Supplement, is referred to as the " Modified Deed of Trust In this <br /> Supplerent . <br /> The Mortgaged Property includes the real property described in Exhibit A . <br /> The County is the record owner of that real property . <br /> i <br /> The County executes and delivers this Supplement to secure current advances <br /> under the 2024 Agreementof $ 11 , 880 , 000 as well as (a) total outstanding advances <br /> with respect to the Prior Bonds of approximately $ 31 , 893 , 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 October 1 , 2044 % <br /> NOW , THEREFORE , <br /> 1 tion and delivery of the 2024 Bonds and. <br /> in consideration of the execu <br /> the 2024 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 the " Loan <br /> Documents , " as defined in Section 2 - 2 , <br /> ( 3 ) to charge the Mortgaged Property with that payment and performance , <br /> nd conveys to the Deed of Trust Trustee , her successors <br /> the County sells , grants a <br /> and assigns forever, in trust, with power of sale , the " Mortgaged Property, " as <br /> defined in the Existing Deed of Trust , along with <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 /> 3 <br />