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296 <br />RESOLUTION AUTHORIZING EXECUTION AND DELIVERY <br />OF FIRST AMENDMENT TO DEED OF TRUST AND SECURITY AGREEMENT <br />FROM LEE COUNTY TO FLEMING L. LOYD, III, AS TRUSTEE <br />AND SOUTHERN NATIONAL LEASING CORPORATION <br />WHEREAS, Lee County had previously entered into a Deed of <br />Trust and Security Agreement dated February 25, 1993, to Fleming L. <br />Loyd, III, as trustee and Southern National Leasing Corporation in <br />which Southern National Leasing Corporation advanced the County the <br />sum of $1,620,000.00 secured by a first lien on the Cumnock Water <br />Plant Facilities located in West Sanford Township, Lee County, North <br />Carolina; and <br />WHEREAS, there has been submitted to this meeting a form of <br />a document entitled "First Amendment to Deed of Trust and Security <br />Agreement"; and <br />WHEREAS, the Finance Officer and County Attorney have <br />advised the Board that the document is necessary to carry out the <br />County's obligation and has recommended its approval; <br />NOW, THEREFORE, BE It Resolved by the Board of <br />Commissioners for the County of Lee as follows: <br />Section 1. The First Amendment to Deed of Trust and <br />Security Agreement in the form submitted to this meeting, is hereby <br />approved and the Chairman or Vice-Chairman is hereby authorized and <br />directed to execute and deliver, and the Clerk is hereby authorized <br />and directed to attest and acknowledge the First Amendment to Deed of <br />Trust and Security Agreement substantially in such form with such <br />necessary and appropriate variations, omissions, and insertions as <br />may be approved by the Chairman or Vice-Chairman. <br />Section 2. The Chairman, Vice-Chairman, and Clerk to <br />the Board are hereby authorized and directed to execute and deliver <br />from and on behalf of the County and all documents or other papers <br />and to perform and all acts they may deem necessary or appropriate in <br />order to carry out the intent of this resolution and the matters <br />herein authorized. <br />upon adoption. <br />Section 3. This resolution is effective immediately <br />Upon a vote, the results were as follows: <br />Aye: Dossenbach, Garner, Matthews, Paschal and Wicker <br />Nay: None <br />The Vice Chairman moved the motion had been adopted unanimously. <br />04 <br />3 <br />