Agenda - 10-03-2000-7a - Laserfiche WebLink

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7 DRAWN BY AND RETURN TO: ' Geoffrey E. Gledhill P.O. Drawer 1529. Hillsborough, North Carolina. 27278 STATE OF NORTB CAROLINA COIINTY OF ORANGS INSTALLMENT PIIRCSASS DSSD OF TRUST TH2S INSTa*•*• PIIRCBASS DEED OF TRIIST .(the "Deed of Trust") made this day of 2000, by and between~THE COUNTY OF ORANGE, NORTH CAROLINA, whose~addresa is Past Office Hox 8181, Hillsborough, North Carolina 27278 (hereinafter referred to as the "Grantor"), and MARSHAL L. GATES, JR. and wife VIRG2NIA LINER GATES, whose address is (hereinafter referred to as the "Beneficiary°). The designation Grantor and Beneficiary as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. NITNSS iSSTB: WBEREAb', under the authority of North Carolina General Statute 160A-20, the Grantor has delivered to the Beneficiary its Installment Purchase Promissory Note ~ot even date (the "Note) in the principal sum of $346,000, the terms of which are incorporated herein by reference, as a part of the payment of the purchase price for real property purchased from the Beneficiary. The final due date for payment of the Note, if not sooner paid, is four years and 11 months from the date of Closing. NoN ~r~oa$, as security for the Grantor's obligation under the Note and other valuable consideration, the receipt of which is hereby aclmowledged, the G=antor has bargained, sold, given- granted and conveyed and does by these presents bargain, sell, give, grant and convey to said Trustee, his heirs, or successors, and assigns, the parcel of land situated in Hillsborough Township, Orange County, North Carolina, (the "Premises") and more particularly described as follows: See deecriptiaa ia.deQd which is attached ae Exhibit A.