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HomeMy WebLinkAbout2014-636 Attorney - Authorization of a Deed of Trust by Orange Enterprises, Inc V- J.-4k PIN: 9874-55-0774 AMENDMENT TO AGREEMENT Prepared by and return to: Williams Mullen, Lemuel D. Whitsett,P.O. Box 1000, Raleigh,NC 27602 This AMENDMENT TO AGREEMENT ("Amendment"), is made and entered into as of February 4, 2014, by and among OE Enterprises, Inc, f/k/a Orange Enterprises, Incorporated, a North Carolina non-profit corporation whose address is 348 Elizabeth Brady Road, Hillsborough, NC 27278 ("OE") and Orange County, a political subdivision of the State of North Carolina ("County"). OE and the County are each a "Party" and collectively the "Parties"to this Amendment. WITNESSETH: A. The Parties executed and entered into that certain Agreement dated April 26, 2005 and recorded May 4, 2005 in Book 3737, Page 156 in the Orange County Registry ("Agreement"). B. OE is the owner of fee simple title to that certain tract of land more particularly described on Exhibit A attached hereto ("Premises"). C. The Agreement restricted the amount of financing, evidenced by a deed of trust that could encumber the Premises ("Debt Limit"). D. OE wishes to enter into certain financing transactions, which would exceed the proscribed Debt Limit. E. The Parties desire to amend the Agreement as set forth herein by raising the Debt Limit on the Premises. NOW, THEREFORE, for in consideration of the premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows: 1. The Agreement is hereby amended as follows. 24435026_1 1 a. The last sentence of Paragraph 3 of the Agreement,which appears in Book 3737, Page 162 of the Orange County Registry is hereby deleted in its entirety and replaced as follows: The Premises may be subjected to one or more deeds of trust in favor of a bank, or other financial institution in an amount not to exceed $1,000,000.00, but no other without the written consent of the County. 2. All capitalized words not defined herein shall have the same meaning ascribed to them in the Agreement. 3. Except as expressly set forth herein, the Agreement shall remain in full force and effect and unaffected hereby. [Remainder of page intentionally left blank] [Signatures and notary acknowledgements to follow] 24435026_1 IN WITNESS WHEREOF, OE has executed this Amendment as of the day and year first above written. OE: OE ENT ' 'RISES, INC. a No Carol na non-profit corporation _41 /i�r y i Print: p'f i"/D . mT7Cac Its: —ri< ✓ ) Of K_ STATE OF NORTH CAROLINA COUNTY OF D()i,1 1A-AV -4 This 1L` day of February, 2014, personally came before meol i o Lff````n Ma f F' who, being by me duly sworn, says that he/she is the -'c&Sur-e v of OE Enterprit'es, Inc., a North Carolina non-profit corporation, and acknowledged the due execution of the foregoing instrument on behalf of OE Enterprises, Inc' /(1/A..— -- 1"—{"---P N• . Pu lic r 4,S`4 J&4 /t..{ c o 1 Notary's printed or typed name My commission expires: / 0 ..2-4 014KIII \ M. M l QQ/,iii [NOTARIAL AL] = ©1 A R V v z_ '0 P 0 B`\G [Signature page 1 of 2] 0////1/1 /1-11 (\)‘\\\\E 24435026_1 3 IN WITNESS WHEREOF, the County has executed this Amendment as of the day and year first above written. COUNTY: ORANGE COUNTY, a politic subdivision of North C. olina By: � .��_ Barry Jacob., Board of'o issio ATTEST: IB : /I ,tip •; Y Donna S. Baker, Clerk to the Board of Commissioners STATE OF NORTH CAROLINA COUNTY OF ORANGE This (., day of February, 2014, personally came before me Barry Jacobs, who, being by me duly sworn, says that he is the Chair of Board of Commissioners of Orange County, a political subdivision of North Carolina, and acknowledged the due execution of the foregoing instrument on behalf of Orange County. Notary Public Dav;c1. H kn Notary's printed or typed name My commission expires: OFFICIAL SEAL p'(�. _a Notary Public,N girth Carolina i O �i� � ORANGE t:C11JNTY DAVID h_.NT [NOTARIAL SEAL] My Commission Expires [Signature page 2 of 2] 24435026_1 4 EXHIBIT A Legal Description Located in Orange County,North Carolina: Being all of Lot 2 containing 10.1525 acres, more or less, as shown on plat entitled"Subdivision Map Fred B. Johnston Property, drawn by Niall Gillespie, PLS, and recorded at Plat Book 97, Page 66, Orange County Registry, to which plat reference is made for a more particular description. 24435026_1 5