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C <br />Agreement (the "Agreement ") between the County and Paul O. Howard and Barbara E. James <br />(the "Seller ") pursuant to Section 160A -20 of the General Statues of North Carolina, as <br />amended. Pursuant to the Agreement, the County will agree to pay to the Seller the purchase <br />price for the Project in installments, together with interest thereon (the `Installment Payments "). <br />(c) In order to secure the County's obligation under the Agreement, the County will execute <br />and deliver a Deed of Trust (the "Deed of Trust") granting to the Seller a lien on the site of the <br />Project, together with all buildings, improvements and fixtures located or to be located thereon. <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, the County is hereby <br />authorized to enter into the Agreement and to pay a purchase price for the Project in an amount <br />5676,000. The County shall pay such purchase price in installments, together with interest <br />thereon at a rate not to exceed 4.00% per annum, in installments due in the amounts and at the <br />times set forth in the Agreement; provided, however, that the final Installment Payment due <br />under the Agreement shall not be later than December I, 2017. The payments of the Installment <br />Payments shall be designated as principal and interest as provided in the Agreement. <br />Section 3. The Board hereby approves the Agreement and the Deed of Trust in <br />substantially the forms presented at this meeting. The Chairman of the Board, the County <br />Manager and the Finance Director of the County are each hereby authorized to execute and <br />deliver on behalf of the County each of said documents in substantially the forms presented at <br />this meeting, containing such insertions, deletions and filling in of blanks as the person executing <br />such documents shall approve, such execution to be conclusive evidence of approval by the <br />Board of any such changes. The Clerk to the Board or any Deputy or Assistant Clerk to the <br />