I received an email from Jennifer Fountain, attorney for
Easter Creek, requesting that the BOC consider and approve the attached
Subordination Agreement. Easter Creek is refinancing debt and the bank is
requiring that the County subordinate its purchase financing extended to Easter
Creek when it purchased Phase I of Chamandy Drive industrial development.
I am also attaching our previous Subordination Agreement
that the County approved for the initial financing in February 2018, so this
request is consistent with the County’s prior action.
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