Orange County NC Website
34 <br /> (d) An executed copy of Deed of Trust Supplement #3, which extends the <br /> benefit of the security provided to the Trustee under the Prior Deed of Trust to <br /> secure the County's performance of its obligations under this Supplemental <br /> Agreement and 2025 Bonds, as contemplated by Section 1.06(iv) of the Prior <br /> Agreement <br /> (e) A County Certificate directing the Trustee to authenticate and then <br /> deliver the 2025 Bonds to the person or persons named therein upon payment to <br /> the Trustee of a specified sum, and directing the Trustee as to the application of the <br /> proceeds from the sale of the 2025 Bonds <br /> (f) An Opinion of Bond Counsel to the effect (i) that the issuance of the <br /> 2025 Bonds is permitted under the terms of the 2021 Agreement and has been duly <br /> authorized, and (ii) that the issuance of the 2025 Bonds in itself will have no adverse <br /> effect on the exemption from Federal income tax with respect to any Outstanding <br /> Bonds with respect to which any such interest is intended to be exempt <br /> (g) Evidence of the issuance or proposed issuance of one or more lender's <br /> title insurance policies (or an appropriate endorsement to an existing policy) in <br /> favor of the Trustee, in an aggregate face amount of insurance equal to the total <br /> amount of Outstanding Bonds plus the principal amount of the 2025 Bonds, and <br /> including the instrument referenced in (d) above as an insured instrument <br /> Section 1.07. Limited Obligation. The 2025 Bonds are limited obligations <br /> of the County, as provided and described in Section 4.05 of the 2021 Agreement. <br /> ARTICLE II <br /> REDEMPTION <br /> Section 2.01. Redemption Dates and Prices. The 2025 Bonds are subject <br /> to redemption only as provided in this Section. <br /> (a) Optional Redemption - The 2025 Bonds maturing on or after October 1, <br /> 20 are subject to redemption at the County's option, in whole or in part on any <br /> date on or after October 1, 20 , upon payment of the principal amount to be <br /> redeemed plus interest accrued to the redemption date, without any prepayment <br /> penalty or premium. <br /> 5 <br />