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Agreement, to be dated the date of delivery thereof(the "Agreement"), between the County and <br /> JPMorgan Chase Bank, N.A. (the "Lender"), pursuant to which the Lender will advance to the <br /> County an amount sufficient, together with any other available funds, to (i) pay the costs of the <br /> Project and (ii) pay the financing costs associated therewith, and the County will repay the <br /> advancement in installments, with interest thereon (the "Installment Payments"). <br /> (c) In order to secure the County's obligations under the Agreement, the County will <br /> execute and deliver a Deed of Trust, to be dated the date of delivery thereof (the `'Deed of <br /> Trust"), from the County to the deed of trust trustee named therein for the benefit of the Lender, <br /> granting a first lien of record on the site of the County's Government Center constituting a <br /> portion of the Project, together with all improvements and fixtures located or to be located <br /> thereon (the "Mortgaged Property'). <br /> (d) There has been presented to the Board at this meeting drafts of the Agreement and the <br /> Deed of Trust. <br /> Section 2. In order to provide for the financing of the Project and the payment of the <br /> financing costs associated therewith, the County is hereby authorized to enter into the Agreement <br /> and receive an advancement pursuant thereto in the principal amount not to exceed $8,250,000. <br /> The County shall repay the advancement in installments due in the amounts and at the times set <br /> forth in the Agreement. The payments of the Installment Payments shall be designated as <br /> principal and interest as provided in the Agreement. The interest rate payable under the <br /> Agreement shall be 1.03% per annum, and the final Installment Payment due under the <br /> Agreement shall not be later than April 1, 2030. <br /> Section 3. The Board hereby approves the Agreement and the Deed of Trust in <br /> substantially the forms presented at this meeting. The Chair of the Board, the County Manager <br /> 2 <br />