OTHER-2025-037-Lease modification

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i (b) The term " Deed of Trust" means the 2025 Deed of Trust, together with the Deed of Trust and Security Agreement granted by the County dated as of June 1 , 2021 , and recorded at RB 6730 , Page 209, Orange County Registry, as supplemented by the instrument recorded at RB 6818, Page 817 , Orange County Registry. All other capitalized terms used in this Modification and not otherwise defined have the meanings ascribed in the Original Lease . 2 . Change to Lease Term . Section 3 . 2 ( c) of the Original Lease is hereby amended to read as follows, in order to extend the expected Lease Term . 3 . 2 , Termination . [subparagraphs (a) and (b ) intentionally omitted from the text of this Modification, but they are not modified .] (c) The date that is 30 days after October 1 , 2045 , which is the scheduled date for the County ' s final payment under the " 2025 Trust Agreement," as defined below, except that the Lease Term ends immediately upon the termination of the 2025 Trust Agreement if the 2025 Trust Agreement is terminated following an event of default by the County under the 2025 Trust Agreement . The " 2025 Trust Agreement" means the Third Supplemental Trust Agreement dated as of June 1 , 2025 , between the County and a corporate trustee . Termination of the Lease Term terminates all the County ' s obligations under the Modified Lease, and terminates the School Board ' s rights of possession under the Modified Lease ; but all other provisions of the Modified Lease , including the receipt and disbursement of funds, shall continue until the 2025 Trust Agreement is discharged as provided therein . 3 . Priority of Deed of Trust. Notwithstanding anything in the Modified Lease to the contrary, the School Board ' s rights to possession of the Leased Property and all its other rights under the Modified Lease are subordinate to the rights of the beneficiary 3