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080 <br />Draft No. l <br />August 17, 2012 <br />Prepared by and Return to: <br />Paul H. Billow, Esq. <br />Womble Carlyle Sandridge & Rice, LLP <br />Post Office Box 831 <br />Raleigh, North Carolina 27602 <br />DEED OF TRUST <br />STATE OF NORTH CAROLINA <br />COUNTY OF LEE <br />This DEED OF TRUST, dated as of November 1, 2012 (the "Deed of Trust "), from the <br />Purchaser OF LEE, NORTH CAROLINA, a political subdivision duly organized and validly <br />existing under the Constitution and laws of the State of North Carolina (the "Purchaser "), to <br />as trustee (the "Deed of Trust Trustee "), for the benefit of PAUL O. HOWARD <br />and BARBARA E. JAMES, and their successors and assigns hereinafter mentioned (collectively, <br />the `Beneficiary'), <br />WITNESSETH: <br />WHEREAS, the Purchaser has entered into an Installment Financing Agreement, of even <br />date herewith (the "Agreement "), with the Beneficiary, whereby the Beneficiary agrees to sell to <br />the Purchaser the Project (as defined in the Agreement), and the Purchaser agrees to pay the <br />purchase price of the Project to the Beneficiary in installments with interest due at the times and <br />in the amounts set forth in Exhibit A to the Agreement (the `Installment Payments ") and to pay <br />certain additional payments as more fully provided therein; <br />WHEREAS, pursuant to the Agreement, the Purchaser is delivering this Deed of Trust to <br />secure the payment by the Purchaser to the Beneficiary of the Installment Payments and all other <br />sums payable under the Agreement and to secure the other obligations of the Purchaser under the <br />Agreement; <br />COLLATERAL IS OR INCLUDES FIX TURES <br />