Orange County NC Website
25 <br /> the issuance of the 2019A Bonds, the Second Supplemental Trust Agreement dated <br /> as of November 1, 2019 (the "2019B Agreement"), which provided for the issuance <br /> of the 2019B Bonds, the Third Supplemental Trust Agreement dated as of May 1, <br /> 2020 (the "2020 Agreement") which provided for the issuance of the 2020 Bonds, <br /> the Fourth Supplemental Trust Agreement dated as of May 11, 2022 (the "2022 <br /> Agreement") which provided for the issuance of the 2022 Bonds, the 2026A <br /> Agreement, the 2026A Bonds, the Prior Bonds and the Modified Deed of Trust. <br /> "Permitted Encumbrances" means, as of any particular time, (a) the <br /> encumbrances on the County's title to the Mortgaged Property that are stated on <br /> Exhibit B, (b) liens for taxes and assessments not then delinquent, or liens which <br /> may remain unpaid pursuant to the Modified Deed of Trust, (c) the Modified Deed of <br /> Trust, (d) any lien or encumbrance which is made by its terms expressly <br /> subordinate to the lien of the Modified Deed of Trust, including leases of Mortgaged <br /> Property made by the County, as lessor, to other units of State or local government, <br /> (e) easements and rights-of-way granted by the County pursuant to the Modified <br /> Deed of Trust, and (f) encumbrances on the County's title to property that may be <br /> added in the future to the definition of the Mortgaged Property existing at the time <br /> the property becomes part of the Mortgaged Property. <br /> "Prior Bonds" means all the County's limited obligation bonds issued <br /> pursuant to the 2018 Agreement, as previously supplemented, and specifically <br /> means the following bonds: <br /> $7,510,00 original aggregate principal amount Limited Obligation Bonds, <br /> Series 2018 (the "2018 Bonds") <br /> $14,135,000 original aggregate principal amount Limited Obligation Bonds, <br /> Series 2019A (the "2019A Bonds") <br /> $29,745,000 original aggregate principal amount Limited Obligation Bonds, <br /> Series 2019B (the "2019B Bonds") <br /> $40,731,000 original aggregate principal amount Limited Obligation Bonds, <br /> Series 2020 (the "2020 Bonds") <br /> $41,535,000 original aggregate principal amount Limited Obligation Bonds, <br /> Series 2022(the "2022 Bonds") <br /> 15 <br />